Insolvency Expertise for UK Subsidiaries of Asian Companies
The Insolvency Advice we can offer Asian Companies with UK Subsidiaries is much sought after
We now offer what we call our ‘Pan Asian Insolvency Desk’ service, which is based at our Croydon office. With the ever-increasing number of Asian companies with UK subsidiaries operating in the country, we were receiving enquiries from solicitors and accountants to see if we could offer their clients our advice and expertise. Members Voluntary Liquidations (MVLs) are particularly in demand amongst such companies, due to the uncertainty created by the post Brexit agreement and the current Covid-19 crisis.
Our Croydon Office is Well Placed to Deliver What is Needed
The UK’s insolvency regime is considered to be one of the best and most robust in the world. When it comes to MVLs, we have acted as liquidator on several hundred of these, for both UK and overseas clients since we started in 1997. Click here to see some of our testimonials.
However, whereas English is the international business language in many parts of the world, this is less the case when it comes to China and other Asian countries, for example. We knew that an important factor in working for Chinese and other Asian subsidiaries in this country was having a team member(s) that could speak either Mandarin or Cantonese. Put simply, it facilitates the process.
One of our newer recruits, Alex Tsang, speaks both Mandarin and Cantonese, which has helped us enormously in giving our Chinese clients the level of service they want. Alex works closely with one of our Insolvency Practitioners, Steve Illes, who heads up our Croydon office, when working on insolvency procedures involving Chinese and other Asian companies.
We have found that insolvency expertise allied to the ability to communicate in Mandarin and Cantonese is a winning combination in this arena
Recent MVL Experience with UK Subsidiaries of Chinese Companies
In recent months we have worked on 3 MVLs for large corporations who were looking to streamline their UK operations. 2 of these MVLs were for a Chinese shipping company and came about due to a merger. The other recent case was a subsidiary of a Hong Kong/Mainland Chinese Bank seeking to wind down its UK investment vehicle.
Contact us for Help and Advice with UK Subsidiaries of Asian Companies
Our knowledge and experience of insolvency, allied to our multiple language capability means that we are well placed to provide an all-round insolvency service when either a UK operated Chinese business or a subsidiary of a Pan-Asian parent company is looking to receive insolvency and turnaround advice.
Contact our Pan Asian Insolvency Desk in Croydon or call us on 0208 088 1899 for help and advice.
WeChat: Alternatively, Steve Illes can be contacted on WeChat. His WeChat ID is: StevenIlles.