In October 2017, Bell & Company assisted a multi-site Northern Ireland business with Personal Guarantee exposure.

• The clients instructed Bell & Company regarding their Personal Guarantee Exposure of £200,000 and potentiality loss of the company properties to a Fixed Charge Receiver.
• The closure of the company would result in 97 employees losing their jobs and many families being affected.
• The outstanding Company liability was £1,300,000 and assets valued at £600,000.
• The Company refinanced and settled at £690,000 retaining the assets and achieved a full & final settlement.
• The Company remained intact and, all 97 employees retained their jobs.

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After a clients business went into Insolvency this triggered a personal guarantee which risked them going Bankrupt.

• The personal guarantee of £50,000 came to us when the Bank initiated Legal proceedings issuing a Summons.
• That customer’s Bankruptcy would have started a domino effect as our client could not satisfy the Personal Guarantee in full.
• The client was hopeful that he could operate in the future as a sole trader. If he could address this Personal Guarantee this would reduce the risk of going bankrupt.
• We initiated contact with the Bank and managed to successfully put proceedings on hold whilst we started negotiations.

Bell & Company successfully negotiated on the Personal Guarantee achieving savings of £44,500 on the initial Bank demand for repayment