When payment commitments and available funds diverge, management needs reliable information quickly. A structured assessment supports professional advice and decisions. It must not delay any necessary legal assessment or urgent action.
Compare available bank funds, payments falling due and receipts realistically expected. Separate confirmed amounts from hopes of new orders or finance that has not been committed.
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Compare available bank funds, payments falling due and receipts realistically expected. Separate confirmed amounts from hopes of new orders or finance that has not been committed. Give the overview a clear reference date and update it regularly. Reconcile it with accounting records and identify missing data. This lets the professionals involved understand which information can support their assessment and where uncertainty remains.
Prepare a coherent brief for advisers
Collect material contracts, current financial reports, receivables lists and security information in a protected location. Describe when difficulties became apparent and which measures have already been taken. Qualified legal advisers should promptly assess insolvency duties and personal liability questions. General online articles or hopes of a particular receipt cannot substitute for an assessment of the company’s specific circumstances and the actions required.
Coordinate decisions and communication
Appoint a small group with clear responsibilities for information, specialist coordination and stakeholder conversations. Record decisions together with the information supporting them. Operational measures, possible funding and legal steps need to work together. Avoid conflicting promises to customers, suppliers or employees. An organised process does not automatically solve the crisis, but provides a better basis for responsible decisions under significant time pressure.
JABA / PERSPECTIVES
Jaba supports commercial decisions. Individual legal and tax advice is provided exclusively by separately engaged, appropriately qualified professionals.
