When consultancy is all you need and you are happy to perform certain tasks yourself then we can provide guidance on, or reassurance about, your actions.
Consultancy services can cover a wide spectrum, but here is an idea of the areas our consultancy services can cover:
- Closing down or ceasing operations not involving a formal insolvency
- Whether certain proposed actions breach Insolvency law
- How to conduct actions that do not breach insolvency law
- Financial restructuring to preserve an entity
- Implementation of financial reporting systems
- Interpreting your financial reports
- Understanding trustee duties
When it comes to legal advice, we are able to provide trustees with the information they seek when they are advised to seek legal advice. We are also able to offer other professionals (accountants, solicitors, lenders) advice on how they should deal with their client or how their clients predicament can be resolved.
There is often a blurring of duties between solicitors and other professionals when it comes to legal advice in specialist areas – e.g. a solicitor can advise on any law, but may not necessarily be a specialist in Insolvency, whereas an Insolvency Practitioner is licensed, regulated and insured to give advice and act within the area of insolvency and can often provide the guidance needed. Similarly, an Insolvency Practitioner can advise that an organisation should close, despite the organisation’s auditors being able to sign a clean audit report in relation to going concern issues, but it is only the auditors that can make the decision about the audit report.
When you approach Lucas Johnson for advice we will make sure we fully understand what you would like us to do and be clear in the permitted scope of our work. Where any conflict of interest can arise – e.g. if a board of trustees requests advice on the actions to be taken by the organisation and also on their own personal position we will refer you to a one of our chose specialist partners to ensure you can be given all the help you need.