Insolvency Services

Welcome to BBK Partnership Complete Insolvency Services

At BBK Partnership, we understand that financial distress can be one of the most challenging phases for any business or individual. Our Complete Insolvency Services are designed to provide clear guidance, practical solutions, and professional support during these difficult times. With over three decades of experience, our qualified insolvency practitioners combine deep technical expertise with a compassionate, client-focused approach to help organisations and individuals navigate insolvency with dignity, transparency, and compliance.

Our services cover a wide spectrum of insolvency matters, including corporate restructuring, liquidation, administration, receivership, voluntary arrangements, and personal insolvency solutions. We work closely with directors, stakeholders, and creditors to explore every available option whether that means rescuing and restructuring a business to return it to profitability, or facilitating an orderly wind-down to minimise risks and maximise value for stakeholders. For individuals, we provide tailored debt management and insolvency solutions that ease financial burdens while ensuring compliance with legal obligations.

At BBK Partnership, we recognise the importance of timely intervention. That is why our insolvency team offers proactive advice and practical strategies to protect assets, manage liabilities, and safeguard reputations. With a commitment to confidentiality, professionalism, and integrity, we guide our clients through the complexities of insolvency law and regulatory requirements, delivering outcomes that balance compliance with the best possible recovery. Whether you are a small business owner, a large corporation, or an individual facing financial challenges, BBK Partnership’s Complete Insolvency Services offer the expertise, support, and reassurance you need to move forward with confidence.

Why Choose BBK Partnership for Insolvency Services?

Specialized Insolvency Expertise
Our licensed insolvency practitioners bring deep knowledge of restructuring, liquidation, and recovery processes. We ensure every case is handled in compliance with Sri Lankan and UK insolvency regulations.

Comprehensive Range of Solutions
From voluntary liquidations and creditor negotiations to business recovery planning and restructuring, BBK Partnership offers a complete suite of insolvency services tailored to your situation.

Objective & Professional Guidance
We provide independent, unbiased advice on the best course of action for struggling businesses, balancing the interests of owners, creditors, and stakeholders.

Focus on Business Recovery First
Our approach prioritizes saving businesses wherever possible. We explore restructuring, refinancing, and turnaround strategies before recommending liquidation.

Clear & Transparent Process
BBK Partnership ensures you understand every step of the insolvency process. We maintain open communication with directors, employees, and creditors to minimize uncertainty and stress.

Protection from Legal & Financial Risks
We help directors navigate their legal duties during insolvency, reducing the risk of personal liability and ensuring compliance with statutory requirements.

Creditor & Stakeholder Management
Our team liaises with creditors and stakeholders on your behalf, managing negotiations, settlements, and communications professionally and efficiently.

Confidential & Sensitive Handling
We treat insolvency cases with the highest confidentiality and sensitivity, respecting both the business owners and employees affected.

Local & International Experience
With strong expertise in both Sri Lankan and UK insolvency frameworks, BBK Partnership provides cross-border insights for businesses with international operations.

Long-Term Advisory & Support
Even after insolvency proceedings, we provide guidance on fresh starts, new ventures, and financial restructuring, helping clients rebuild stronger futures.

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Characteristics

At BBK Partnership, we understand that financial distress can be one of the most challenging phases a business or individual may face. Our full suite of insolvency services is designed to provide clarity, support, and solutions when financial pressures become overwhelming. With decades of experience across Sri Lanka and the UK, our licensed insolvency specialists offer practical strategies that balance creditor obligations with the goal of achieving the best possible outcome for all parties involved.

Corporate Insolvency & Restructuring

We work with businesses experiencing cash flow difficulties, mounting debts, or operational challenges. Our team provides advice on restructuring, refinancing, or reorganising your business to restore stability and protect jobs wherever possible.

Voluntary Liquidations (Members’ & Creditors’)

We assist companies in winding up their affairs through both members’ voluntary liquidation (MVL) and creditors’ voluntary liquidation (CVL). Our experts ensure the process is conducted in full compliance with legal requirements, safeguarding directors from future liabilities.

Compulsory Liquidations & Court Proceedings

In cases where creditors initiate liquidation through the courts, we provide full legal and financial guidance. We manage the entire process, from filing petitions to realising assets, ensuring transparency and compliance at every stage.

Personal Insolvency Solutions

For individuals facing insurmountable debt, we provide tailored solutions such as debt restructuring, repayment plans, and guidance on bankruptcy procedures. Our goal is to help individuals achieve financial recovery while minimising long-term impact.

Administration & Business Rescue

Where possible, we aim to rescue and preserve viable parts of a business rather than closing it down. Through administration, turnaround strategies, or creditor agreements, we help restructure debt while keeping the company operational.

Creditors’ Meetings & Negotiations

We represent businesses and individuals in negotiations with creditors, helping to reach settlements, restructure payment terms, or establish voluntary arrangements. Our impartial approach builds trust and facilitates practical solutions.

Asset Realisation & Distribution

Our insolvency practitioners handle the valuation, sale, and distribution of company or personal assets, ensuring maximum returns for creditors in a fair and transparent manner.

Regulatory Compliance & Director Advisory

We guide directors through their legal responsibilities during insolvency, reducing the risk of personal liability. Our services include preparing statutory reports for regulators and maintaining full compliance with insolvency laws.

Cross-Border Insolvency Support

For businesses operating in multiple jurisdictions, we provide cross-border insolvency support, coordinating with international stakeholders to resolve financial matters effectively and lawfully.

Confidential, Ethical & Supportive Approach

At BBK Partnership, we approach insolvency with sensitivity, confidentiality, and professionalism. Our goal is not only to resolve immediate financial distress but also to support long-term recovery, stability, and future opportunities.

Initial Consultation & Assessment

We begin with a confidential review of your company’s financial situation, debts, and obligations to understand the extent of financial distress.

Options Review & Advisory

Our experts outline all possible solutions such as restructuring, refinancing, or formal insolvency procedures helping you make informed decisions.

Formal Engagement

Once the best course of action is agreed, we formalize the engagement and prepare the necessary documentation to proceed with the chosen insolvency process.

Appointment of Insolvency Practitioner

A licensed insolvency practitioner is appointed to take control, manage the process, and act in the best interests of creditors and stakeholders.

Asset Review & Realisation

We identify and value company assets, then oversee their orderly sale or distribution to maximize returns for creditors.

Debt Settlement & Distribution

Proceeds from assets are distributed fairly among creditors according to statutory priority, ensuring transparency and compliance.

Reporting & Regulatory Filings

All required reports are prepared and submitted to regulatory authorities, creditors, and stakeholders throughout the process.

Closure & Post-Process Support

The insolvency process is formally completed, and we provide guidance on next steps whether that means starting fresh, restructuring, or moving forward with new opportunities.

Strict Confidentiality

We handle all insolvency cases with complete discretion, protecting your sensitive financial information and business reputation.

Licensed Insolvency Experts

Our team includes qualified insolvency practitioners with years of experience in restructuring, liquidation, and recovery processes.

Compliance with Legal Frameworks

We ensure every step follows insolvency laws and regulatory requirements, giving you a fully compliant and reliable process.

Tailored Solutions for Each Case

No two insolvencies are the same. We design strategies that fit your company’s specific financial position and future goals.

Efficient Process Management

From creditor communication to court filings, we manage the entire process smoothly, reducing stress and saving you valuable time.

Transparent Guidance

We provide clear explanations of options, timelines, and outcomes so you understand every step before decisions are made.

Focus on Business Recovery

Where possible, we aim to restructure and revive your business rather than close it, protecting jobs and stakeholder interests.

Long-Term Advisory Support

Even after insolvency proceedings, we guide you with financial and strategic advice to rebuild and achieve sustainable growth.

Leading Manufacturing Group

CEO

BBK Partnership supported us through one of the most challenging times in our company’s history. Instead of immediate liquidation, their restructuring advice gave us breathing space with creditors, saving jobs and protecting our brand reputation. Their professionalism and compassion made a huge difference.

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FAQ

You can learn more from our asked questions

Our Frequently Asked Questions provide clear, practical answers on everything from getting started to digital solutions, tax compliance, and more. Explore the topics below to gain deeper insight into how BBK Partnership can support your business at every stage. If you can’t find the answer you need, our team is always ready to help just reach out!

What are insolvency services?

Insolvency services at BBK Partnership involve professional guidance and legal support for businesses and individuals facing financial distress or insolvency. We assist with restructuring, liquidation, debt settlement, and creditor negotiations to help manage liabilities and recover value where possible.

When should I consider insolvency services?

If your business is unable to pay its debts on time, is facing mounting losses, or is under legal pressure from creditors, it’s time to consult BBK Partnership. Early intervention through our insolvency services can help explore recovery options before liquidation becomes necessary.

What types of insolvency solutions does BBK Partnership offer?

We offer a wide range of services including voluntary liquidation, compulsory liquidation support, business restructuring, administration, creditor arrangements, and debt management plans. BBK Partnership tailors each solution to your specific financial situation and legal obligations.

Can BBK Partnership help avoid liquidation?

Yes. Our goal is to assess all available options before proceeding to liquidation. BBK Partnership may recommend restructuring, debt negotiation, or business recovery strategies to stabilise your operations and protect your stakeholders.

What is the difference between voluntary and compulsory liquidation?

Voluntary liquidation is initiated by the business owner or shareholders when they recognise the company can’t continue operating. Compulsory liquidation is ordered by the courts often initiated by a creditor. BBK Partnership supports clients in both situations, ensuring full legal compliance and orderly asset distribution.

Will BBK Partnership handle all legal and regulatory filings?

Yes. We manage the full process, including notifying creditors, preparing required documents, liaising with regulatory authorities, and filing reports with the Registrar of Companies. BBK Partnership ensures all legal and statutory obligations are met throughout the insolvency process.

Can BBK Partnership assist individuals facing personal insolvency?

Absolutely. In addition to corporate insolvency, BBK Partnership also supports individuals dealing with personal debt or bankruptcy issues. We provide confidential consultations and develop personalised solutions to help you regain financial stability.

How does insolvency affect directors and shareholders?

Directors may face certain legal responsibilities during insolvency, especially around wrongful trading. BBK Partnership advises directors on their duties and helps minimise legal risks, while guiding shareholders on asset realisation and resolution strategies.

Is the process confidential?

Yes. BBK Partnership treats every insolvency case with strict confidentiality and sensitivity. Whether business or personal, we ensure that your financial matters are handled professionally and privately.

How do I get started with BBK Partnership’s insolvency services?

To begin, contact BBK Partnership for a confidential consultation. We’ll assess your situation, explain your options, and guide you step-by-step through the most appropriate insolvency or recovery process.