The Business Exchange Swindon & Wiltshire Edition 33: Oct/Nov 2017 | Page 10

LEGAL
Bower & Bailey’s David Janata talks
insolvency and corporate recovery
David Janata is a partner at Bower & Bailey Solicitors, based at Regent Circus
in Swindon. He has over 30 years experience in the Swindon market dealing
with insolvency and corporate recovery. David gives us his insight into how
businesses have faired this year so far and provides us with his top tips for
staying afl oat.
There have been fewer insolvency matters
in 2017 than had been initially predicted.
I attribute this to the low level of interest
rates. The threat of insolvency imposes an
enormous stress for business owners and
employees at all levels.
business in order to protect the company
and its employees.
• Don’t ignore deadlines; maintain an open
dialogue with your creditors.
restructure the company to protect the
business owner and the employees.
What’s involved?
An essential element of the process is to talk
to banks and consider with the client the
possibility of some sort of debt restructuring,
or a company voluntary arrangement.
Our advice includes the suitability of
administration or whether parts of the
business can be closed or sold. Our goal is
to provide constructive business solutions
tailored to the realities of the client’s
situation and to do so in a straightforward
and coherent manner.
We provide clear pragmatic legal
advice which aims to take the fear out
of the process. The goal is key. This
involves working with licensed insolvency
practitioners, commercial lenders and the
clients other professional advisers. We work
The warning signs of
business insolvency
Here are my top tips for
avoiding insolvency
• Keep calm and don’t bury your head in
the sand; as a business owner you will
know when matters have gone awry.
• Seek legal advice from a solicitor at the
earliest stage.
• Time constraints: you need responsive
and experienced advice from a legal
professional.
• Once you have received advice. Respond
to the advice that you are given promptly.
• Assess turn around solutions and
determine if it’s possible to restructure the
Often it’s a basic issue of not having a good
handle on your debtors which can spiral out
of control. As all business owners know it’s
always shrewd to recall the adage that ‘Cash
is King’.
The role of an experienced and
competent solicitor in the process is to offer
realistic and pragmatic advice on the options
available. We work with our clients to
achieve the best outcome.
Along with my colleagues I provide
practical guidance about turn-around
situations; I work with the business and
individuals to establish how best to
with our clients to identify what they want
to achieve and offer realistic advice. Practical
experience dictates the benefi ts that can be
achieved for the business and the employees
in a properly restructured business.
A properly restructured company will
be able to avail itself of the fantastic
opportunities ahead in the Wiltshire
economy.
David works alongside his insolvency
colleagues James Macdonald, James Hulme
and Rob Brookes.
If you have any questions David Janata
can be contacted via email: djanata@
bowerandbailey.co.uk or by calling 01793
610466
For more info:
www.bowerandbailey.co.uk
@bowerbailey
Local expert legal advice for you,
your business and your family
• Accident and Injury
Compensation
• Divorce and Children Matters
Cambridge House,
4 College Court, Regent Circus,
Swindon, Wiltshire SN1 1PJ
• Employment issues
• Commercial Property
• Company and Commercial • House Sales, Purchases,
Mortgages
• Consumer and Civil Disputes • Wills and Estates
T: 01793 610466
F: 01793 511505
www.bowerandbailey.co.uk
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