In Focus Collections
However, if the company enters administration then a moratorium applies, meaning you cannot repossess the goods without the administrators consent. The funder and their advisors must consider what is known as the balance of
detriment, where they have to evaluate whether the body of creditors aff ected adversely by the return of the assets.
Utilising the terms and conditions of any agreement can be hugely benefi cial in minimising the risk of losses. Having clear and thoughtful conditions which give the funder entitlement to inspect the goods when necessary – as well as a landlords’ waiver – is very useful in preserving the security of your assets
March 2022
Other considerations What other methods can funders use to keep track of their assets? Technology can play a huge part in asset recovery, and it is imperative that we keep engaged with innovate solutions to locate assets in cases where traditional methods fall short. We are seeing the increased use of tracking
information, for example in the vehicle hire space, automatic number plate recognition software has assisted vehicle recovery.
Assest register Some funders are calling for an assets register, but the practicalities of this can be challenging. Others in the sector believe companies should register all loans of any type with Companies House rather than just charges.
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Contractual provision Utilising the terms and conditions of any agreement can be hugely benefi cial in minimising the risk of losses. Having clear and thoughtful conditions which give the funder entitlement to inspect the goods when necessary – as well as a landlords’ waiver – is very useful in preserving the security of your assets.
Ultimately, one of the best approaches for
funders is always acting on the presumption that injunctive relief or recovery of goods might be needed. Being fully aware of your assets’
whereabouts will certainly bring value to the business whilst fulfi lling any regulatory obligations. We are seeing great opportunities post-
Covid, but this is against a backdrop if rising costs.
So with the risk of increased insolvency, it is
imperative that the above steps are considered in asset preservation and recovery. CCR
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