Receivership & Lender Services

Lenders and their clients operate in an increasingly dynamic and competitive environment. Slowing growth patterns, increased competition and an uncertain economic outlook all present threats to performance and viability, regardless of past results or strength of the markets in which they operate.

Our CRS team brings you the expertise, knowledge and experience to help you make the right decisions in recognizing and dealing with a debtor under stress.

Investigating Accountant & Monitoring Accountant

Our investigation services typically fall under the following categories:

• Pre-Lending reviews.
  These reviews are usually conducted only after finance approval has been given on an in-principle basis, often with a very specific scope. A common limited scope assignment is the assessment of forecasts and the assumptions that underpin them. Other typical limited scope assignments include the review of product and process costing, and assessment of financial reporting systems.
• Prudential reviews.
  Prudential reviews are conducted when a lender seeks additional comfort about an existing customer, typically, before extending existing facilities. Viability is not thought to be in doubt, and in fact a common issue is the borrower’s capacity to maintain rapid growth.
• Pre-appointment reviews.
  Pre-appointment reviews are appropriate when there are doubts about the capabilities or integrity of management, and the enforcement of security is a real possibility.
• Monitoring Accountant
  Ongoing monitoring is a key aspect of many workouts, with periodic investigation of the borrower to ensure that they remain able to fulfill their commitments

We understand that cost is often a major issue when deciding to appoint an Investigating Accountant. Our flexible approach to fee structures and costs allows us to offer the following alternatives:

• Free Initial interview
  We will attend your first interview with the borrower or potential borrower at no charge, to provide suggestions and input.
• Desk Based reviews
  As the name suggests, a desk based review does not involve meetings with the business operators or a site visit. This allows us to significantly reduce the time and associated fee. This approach is appropriate where you have already identified a likely course of action, but would like the benefit of a different perspective before implementation.
  Normally, a three to five page report is faxed within 18 hours of receipt of your file, for a low fixed fee.
• Sliding Fee scale
  As familiarity with a business increases, we are better able to assess risk and focus on a reduced scope. Along with that we able to offer a sliding fee scale.

Receivership & other Statutory appointments

Where there is no practical alternative to security or debt enforcement, we can act as Receiver or Administrator if voluntary administration is more appropriate.

Wherever possible we like to help you to review your options before an enforcement decision is made. This ensures that all options have been explored and allows us to address the logistics of an appointment, to ensure that we can be as effective as possible.

Debtor recovery services

At CRS, we can also assist lenders in cases where it is not appropriate or cost effective to enforce your security, and the appointment of a liquidator or bankruptcy trustee may be more appropriate.

If you do decide to proceed with a recovery action, usually you are able to nominate the insolvency practitioner of your choice as liquidator or trustee, and we can also act in this capacity.