Verisona Scores Another Business Accolade

The latest industry recognition for a team of Portsmouth legal experts at the UK’s ‘Insolvency & Rescue Awards’ not only breaks new ground for their firm, Verisona Law, but also for their profession.

The hard work, commitment and support given by the Insolvency and Business Turnaround team at Verisona Law to the historic rescue of Portsmouth Football Club continues to win praise throughout the world of professional services.

Verisona Law is now the first law firm to ever have been given the title of ‘Business Rescue of the Year’ at the only awards that recognise best practice and professional excellence in the corporate recovery and insolvency sector.

A panel of over 20 judges - including the Chief Executive Officers of the Insolvency Practitioners Association and Institute for Turnaround, Presidents of the Turnaround Management Association (TMA) and Association of Business Recovery Professionals ‘R3’ and the Managing Editor of Credit Today and Insolvency News - agreed that Verisona Law had made an exceptional contribution to the industry in the past year and that the Portsmouth firm had shown itself more than worthy of the national title.

‘Just to be shortlisted by such an expert panel was a tremendous compliment to our work,’ says Nick Oliver, who heads up the team at Verisona Law, including Directors David Oliver, Mike Dyer and Chris Allnutt, and joined over 700 industry leaders at a ceremony held at The Lancaster Hotel in London. ‘At first, I don’t think we quite believed it, but once the announcement had sunk in, we were all elated.’

The firm, which was also shortlisted for ‘Insolvency Firm of the Year’, has proudly added its latest trophy to a growing collection.

‘Of course, the work we did was for the people of Portsmouth, the fans and the consortium, including the Portsmouth Supporters’ Trust,’ said Vincent Denham, Verisona Law’s CEO. ‘At the time, we were just focused on seeing the project through, but upon reflection, and in light of interest and plaudits from various business communities, we are beginning to realise that we achieved something pretty special.’

‘We are very touched by the congratulations we have received since the win was announced and all very proud of each other.’


Businesses in financial difficulty

  • Advice on business refinancing and restructuring
  • Advice on, and management of, insolvency procedures
  • Negotiations with trade creditors, HMRC (including ‘time to pay’ agreements), landlords, banks, factoring companies, financiers and insolvency practitioners
  • Business sales

Individuals in financial difficulty

  • Assistance with financial difficulties, personal guarantees, statutory demands, bankruptcy issues and individual voluntary arrangements (IVAs)
  • Dealings with the Official Receiver, The Insolvency Service and trustees in bankruptcy (including possession actions in relation to residential property)

Company Directors

  • Advice on director’s duties, potential personal liability for on-going trading and options where the company is in difficulty
  • Advice on post-insolvency matters including claims by liquidators and director disqualification action by The Insolvency Service

Creditors

  • Advice on issuing statutory demands, bankruptcy and winding-up petitions
  • Maximising recoveries
  • Retention of title, charge and debenture issues
  • Enforcement of personal guarantees
  • Representation at creditor meetings

Insolvency practitioners

  • Technical advice, transactional support and litigation services locally and nationally
  • Assistance with investigations, insolvency-related disputes and litigation (including construction disputes)
  • Personal insolvency issues
  • Asset and debt recovery
  • Asset and business sales
  • Property issues
  • Employment issues
  • Cross-border assistance

Buyers of distressed or insolvent businesses

  • Advice on purchasing distressed or insolvent businesses
  • Risk assessment and due diligence
  • Support for valuation and price negotiation
  • Related property, leasehold and employment issues

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