Evaluator Reports
From 30 April 2021, an administrator is now unable to complete a sale, hire out or dispose of all or a substantial part of a company’s assets to a connected party within 8 weeks of a company entering administration without first obtaining the approval of creditors or through an evaluators independent written report.
Nick Elliott of Stag Advisory LLP is uniquely placed to offer evaluators reports in accordance with the new legislation:
- A qualified (non appointment taking) insolvency Practitioner who has held an insolvency licence for more than 25 years
- Previous Big 4 / Top 10 Director / Partner
- Responsible for trading and selling a significant range of businesses / business and assets across multiple sectors and a significant bandwidth of turnovers so commercially understands how insolvency deals work
- Hands on detailed experience of pre and post insolvency funding solutions
Stag has already provided a range of evaluator reports across different business sectors and supporting businesses with revenues from £2m to north of £100m, so has significant experience of working with all the parties connected with the provision of the evaluator reports.
Please use email or call 07850 733093 and we can talk through any questions or queries and commence work as soon as the information is available
FAQs
Do I need an evaluators report?
- Where the purchaser is connected to the insolvent company (by way of directorship, shareholding or family connection as well as business partners) or member of the same group an evaluators report is required.
- The nominated administrator / their legal advisors will be able to advise you if an evaluators report is required.
What does substantial disposal mean?
The disposal, hiring out or sale by the administrator of the company’s assets if it:
- takes place within the first 8 weeks following the appointment of administrators
- involves one or more connected parties
- disposes of all or a substantial part of the company’s business or assets
Who makes the application for an evaluators report?
- The connected party is responsible for making the application for the evaluators report
- Where there are multiple transactions connected to the substantial disposal, their needs to be one report covering all the transactions to assess the overall commercial position
What information is required to allow an evaluators report to be produced?
- We have a simple checklist that will be provided following our initial discussion
- The bulk of the information can be provided by the applicant or advisors supporting them on the acquisition
- In addition to information from the applicant, certain information will be require from the nominated administrators / the agents acting on their behalf
How long does the report take to produce?
We fully appreciate the need for speed and certainty here given our in depth knowledge and experience of the insolvency arena.
Subject to receipt of all the required information, the evaluators report will be delivered by close of play the next day.
How much does the evaluators report cost?
Reports are tailored to each individual situation and following a brief introductory call, we will be able to provide a fee for undertaking the work.
Stag Advisory LLP
1st Floor | Gooches Court | Stamford | Lincolnshire | PE9 2RE
Stag Advisory LLP is a limited liability partnership registered at companies house under number OC415774 | VAT registration 269 1082 91
