Electrical Works, HVAC and Electrical Engineering Maintenance
Commercial, Industrial and Residential Real Estate
Mission details
Context
A company specialising in electrical works (high and low current), Heating, Ventilation and Air Conditioning (HVAC), electrical and climate engineering maintenance, and fire protection — primarily for private clients (commercial, industrial and residential real estate) — entered into court-supervised rehabilitation proceedings with an asset disposal plan.
The company's assets were transferred and the company was subsequently liquidated.
Argos Construction intervened (i) in the context of the asset transfer, by carrying out a cut-off assessment of the works executed by the transferred entity, and (ii) in the context of the liquidation, by settling the accounts of outstanding contracts.
Mission
E.g.: Restructuring
Objectives
- Carry out a cut-off assessment;
- Conduct site surveys to determine the progress of works executed by the liquidated entity;
- Analyse any disputes raised by clients and proof of debt filings;
- Review or establish final accounts with subcontractors;
- Review accounts relating to receivables financing, repayment of advance payment guarantees and interim payment retentions;
- Obtain releases of any outstanding bonds and guarantees.
Stakes
- Total accounts receivable: €4.1M
Result
Amount recovered: €3.2M
