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Receivers deal with lots of different situations when companies find themselves in difficulty. Tony Mitchell, Cranfield’s MD, relates some of the quirkier aspects of his job when dealing with buy-to-let landlords.
Are buy-to-let landlords filling their pockets as rents hit record highs? This is what is being claimed as the market for rented properties continues to grow.
Of course the general perception is that many landlords are getting richer as the rental market increases. Whilst it may be true that some landlords are indeed making a great deal of money, there are many others who are finding it very difficult given the high gearing they built up pre 2009. In reality, this is acting as a millstone around the necks of many landlords which higher rents are not removing. Consequently, Tony Mithcell has found himself being appointed over more and more residential properties as a Fixed Charge Receiver to recover lenders’ money lent under buy to let loans... Read more
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How many company directors do you know who have invested personal assets in their business to help with the company’s cash flow, expansion, research and development or simply to prop up the business when it faces difficult times?
With more and more businesses facing financial difficulty in the current economic climate, there will be an increasing number of directors who are potentially risking losing everything if their company does fail. This presents a double blow at a time when directors are reeling from the shock of business failure and on top of that are facing losing their home and any other capital investments they’ve made in the business.
What many directors are not aware of is that they can potentially safeguard their personal assets through a director’s debenture, which gives them priority over other creditors if the business fails... Read more
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Table Football
Our fourth table football tournament took place on 4 October with nineteen teams competing for the trophy... Read more
Cheese and Wine
As part of an Olympic themed event to celebrate a great sporting event coming to Coventry and our sponsorship of Olympic hopeful Katrina Wootton... Read more
Racquets Club
Is there anyone out there who would like to break free from the shackles of their desk and join an informal and friendly group of like minded people who enjoy racquet sports?... Read more
Olympic Hopeful Update
Our Olympic hopeful, Katrina Wootton, discovered in July that she had an extra bone in her foot that was causing her agony whilst running and which resulted in her pulling out of the final at the Birmingham Championships... Read more
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