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The proposed administrators of the business requested BTG Advisory’s Recoveries team to undertake a debtor ledger review for both them and the current company funders.
The review was undertaken and a report was provided to confirm the positive and negative items found within the ledger. The administrators spoke with the funder and an exit strategy was agreed with a third party that would cover the original funding position while the administration ran.
The new funder appointed our team of specialists to undertake the collection of the outstanding ledger, which now belonged to them.
A successful collect-out position was achieved for the funder within a month with a healthy surplus being passed on to the administrators.
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