'10 Minute Tip' by Peter Windatt - Insolvency Practitioner - 8am until about 10:30am
Peter Windatt’s insolvency career started in 1985 at the Official Receivers office covering Northampton, Milton Keynes and Banbury County Courts.
In 1989 Peter was headhunted by what is now PwC and promoted each year for the next 3 years – following the 1992 recession Peter spent 2 years working in their Computer Assurance Services department helping to set up Fraud Investigation teams in Birmingham, Edinburgh, Bristol and London.
In 1994 Peter joined a small Chartered Accountancy practice in Northampton and Milton Keynes as their second Insolvency Practitioner and in 2001 he, along with 2 others, bought out the insolvency department to form BRI – a boutique organisation offering Business Recovery and Insolvency solutions to companies and individuals of all shapes and sizes.
BRI now has 5 Insolvency Practitioners working through a team of 25 out of 6 offices between Birmingham and London. Peter is an accountant and Insolvency Practitioner and he has represented ACCA as chairman of the local networking group, as a member of their Council, as Chairman of the Joint Insolvency Examinations Board and on the Joint Insolvency Committee where he currently chairs a Working Party looking at the Statement of Insolvency Practice (SIP3.2 - draft now out for consultation) which covers Company Voluntary Arrangements (of which there have been many in retail recently).
In his spare time Peter is an RYA sailing instructor teaching mostly disabled sailors and other volunteers through Sailability; a field hockey umpire, umpire coach and assessor; and a British Kempo Karate Association instructor (holding a 4th Degree Black Belt). Peter is also an ice hockey season ticket holder.
MAKE SURE YOU ONLY BOOK YOUR FREE PLACE USING THE CASH OPTION WHICH IS JUST TO THE RIGHT OF THE CARD OPTION. THIS EVENT IS FREE TO VISITORS AND WE WON'T BE TAKING ANY MONEY FROM YOU
About the conversation:
MAKE SURE YOU ONLY BOOK YOUR FREE PLACE USING THE CASH OPTION WHICH IS JUST TO THE RIGHT OF THE CARD OPTION. THIS EVENT IS FREE TO VISITORS AND WE WON'T BE TAKING ANY MONEY FROM YOU
“The first law of holes – post Covid 19”
According to Wikipedia: The first law of holes, or the law of holes, is an adage which states that "if you find yourself in a hole, stop digging".
Digging a hole makes it deeper and therefore harder to get back out, which is used as a metaphor that when in an untenable position, it is best to stop carrying on and exacerbating the situation.
With the Government suggesting that wrongful trading may be suspended for a time (holding directors liable for the debts incurred after the time when they knew they should have ceased) have the rules been thrown out of the window? The rule may be broken; but tread carefully; and carry protection – everyone is going to have 20:20 vision with hindsight.
Peter Windatt is an Insolvency Practitioner with a difference – Many business owners associate Insolvency Practitioners with The Grim Reaper or vultures hovering above you waiting to pick at the bones of your business to get all the best bits at a knock down price.
Peter’s concentration is on Business Recovery. The earlier he gets involved the better the chances of a successful recovery with limited pain. Most owners of failing businesses wait until it’s far too late for anybody to help them recover. Don’t let this happen to you or any of your business to business customers.
Take good advice quickly and your recovery will be faster and less painful. These tips will also help you think very carefully about how you are taking money out of your business. Avoid some of the bear traps. Don’t let the tax efficient tail start wagging the commercially sensible dog.
