IRC Sri Lanka

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How We Work

Evaluation & Registration

We will take a few details from you during our initial telephone conversation to assess the seriousness of the problems you are facing and then we will meet with you at your earliest convenience. Remember the options open to you decrease rapidly with every passing day and it is important that we see you as soon as possible. At our initial meeting we will work through in detail, what the position of your business is and which of the many options is likely to produce the result you want. This is followed by a Registration process with us which involves a Registration Fee and thereafter you will be our Privileged Client and we are your Consultant.

Defence

After working out our strategy and agreeing with you we will put in place all mechanisms which are necessary to protect you from your creditors. There are a number of defence options open to companies in trouble and we will advise you on the one which is most appropriate for your business.

Restructure

We will next work with you on the restructuring of your company. The options open to you will be based on whether there is a core business which can be turned around and returned to profitability at some point of time in the future if it can be released from some of its current burdens. We will work with you to make your business attractive for investment.

Liquidation

On occasions at which it will be inevitable that a business will go into liquidation. Liquidation of your old company may also sometimes occur during a restructuring process if your business is transferred to your new limited company. We can help with specialist advice to ensure that matters concerning personal liability are minimised and that the liquidation is as smooth and simple as possible.

Fees

We will only look into charging fees if our services are required to successfully complete the project. We won't make a charge to you for initial telephone calls and meeting and only once we agree a course of action which meets your objectives and start to put the plan into effect will we look to charge a fee. However, if the process takes lot of extra time of ours then there will be a reasonable charge agreed upon based on man hours utilized.

We work on the basis of a fixed fee which we agree with you once we have looked at the complexity of problems involved in your company. The benefits of this approach that accrue to the clients are that

unlike lawyers, accountants and insolvency practitioners charge their clients on a time basis, clients can freely talk to us and meet with us as often as you need to. This is undoubtedly a testing time for you and your business as you need to be worrying about increasing costs every time you need to talk to someone. We are results-oriented and client-friendly and want all stakeholders to be satisfied with our services.

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