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Advisory
Insolvency and restructuring advisory in Ghana
The options narrow as the cash runs down.
An options review for a business under pressure, informal restructuring and creditor negotiation, and formal processes under the Corporate Insolvency and Restructuring Act 2020 (Act 1015). The useful time to take advice is earlier than most people take it.
Request a confidential options review All advisoryDirectors carry personal exposure for continuing to trade while insolvent. That is the fact which should govern the timing of this conversation, and it is the one most often not known until a lawyer explains it.
Why earlier is materially better
Every option available under Act 1015 requires something: cash to fund a process, creditor goodwill, time to negotiate, or an asset worth preserving. All of those deplete. A business that takes advice with three months of runway has choices. The same business with three weeks has one, and it is rarely the one anybody wanted.
Not every business needs a formal process
Most do not. A large proportion of the situations we see are working capital problems presenting as solvency problems: a receivable that has become a loan, stock that will not move, or a contract that is loss-making and has fourteen months to run. Those are fixable, and the options review exists to establish which situation you are actually in.
What the review gives you
An honest position on solvency, the options genuinely available, what each would cost and achieve, and a plain statement of the directors' exposure as things stand. Written so it can be put to a board, and confidential.
The insolvency and restructuring framework, including administration
Director exposure for trading while insolvent
For a confidential options review
Scope
What we do
The options review comes first in every case, because nothing else can sensibly be decided without it.
Confidential options review
An honest assessment of solvency, the realistic options, what each costs and achieves, and the directors' exposure as things currently stand.
Informal restructuring
Renegotiating terms with creditors, restructuring debt, disposing of loss-making activities, and rebuilding a working capital position without a formal process.
Creditor negotiation
Including with the Ghana Revenue Authority where statutory arrears exist, which is frequently the largest and most pressing creditor.
Formal processes under Act 1015
Where a formal route is the right answer, advising on and supporting the process, working alongside your lawyers.
Process
How the review runs
Fast, because the situations that bring people here do not wait.
First conversation
Confidential, no charge, usually same day. What the position is, what is pressing, and who currently knows.
Same day where possibleInformation
Management accounts, the cash position, the creditor list including statutory arrears, and any facility documentation.
Days 1 to 3Solvency assessment
Balance sheet and cashflow solvency, tested rather than assumed, with the assumptions stated.
Week 1Options paper
Each realistic option, what it costs, what it achieves and what it forecloses. Written to be put to a board.
Weeks 1 to 2Implementation
Whichever route is chosen, alongside your lawyers.
As requiredEngagement
Fees, timing and who does the work
Fee basis
Fixed fee for the reviewQuoted before it starts. Anything that follows is quoted separately once the route is chosen.Who does the work
Partner-ledJudgement work with personal consequences for directors. It is not delegated.Discretion
AbsoluteNothing is discussed outside the circle you agree, including internally.Questions
Questions when a business is under pressure
When should we take advice?
What is our personal exposure as directors?
Does taking advice mean the business is finished?
We owe PAYE and VAT. Does that change things?
Will this stay confidential?
Next step
Call. The first conversation costs nothing.
It will tell you whether you have a solvency problem or a working capital problem, and what the directors' position is as things stand.
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