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  • Our solutions deliver performance improvement & economic growth
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About US


We put troubled companies & individuals back onto the road to recovery.

Helping You & Your Business

In partnership with our highly regarded sister company, Commercial Credit Management Limited, Revita provides independent services to both businesses and individuals, striving to protect and improve their financial standing, without compromising professionalism and ethics.

Team Expertise

To help our clients, no matter what business or market they operate in, we have gathered together unparalleled expertise. Our growing team of highly qualified professionals provides significant financial, operational and legal experience at all levels: accountants, financial analysts, solicitors, management consultants and entrepreneurs.

Planing For Your Success

Recovery and transformation requires flawless and timely execution, so we plan and activate detailed implementation strategies. By combining insight with discipline and painstaking activity, we help our clients to overcome economic hardship.

Negotiation

We have harnessed the skills necessary to negotiate fair and equitable resolutions on behalf of our clients in disputes with other 3rd parties, including their banks. Our approach is proven, results-oriented and backed by proprietary tools, benchmarks and methodologies.

Our Services


A menu of professional solutions for you and your business.

Core services

  • Advice on the strategic options, to ensure survival of the business
  • Preparation and implementation of a comprehensive business plan
  • Evaluation of financial projections with specific industry insight
  • Sale of distressed businesses and subsidiaries
  • Refinancing
  • Cash flow and liquidity management
  • Operational restructuring

SHORT TERM FUNDING

  • Management and collection of debts
  • Suitable scheduling of supplier payments
  • Sale of non essential assets, including stock to generate cash
  • Comprehensive cash flow forecasts
  • Stakeholder communication

Additional services

  • Diagnostic reports
  • Project screening
  • Feasibility studies
  • Operations consulting
  • Interim management services
  • Mediation & negotiation services
  • Receiverships & Admnistration Orders
  • Liquidations and bankruptcy

We work with individuals too!

As well as corporate services, we also help individuals, looking for quality financial guidance and advice on restructuring their affairs. The process starts with simple one-to-one meetings, with specially reduced rates and charges.

Our Method


Planning the next steps for your business, is our business.

We Listen

Insight is everything and understanding a client’s situation and the environment in which they operate is crucial to offering any solution.  Before we act, we listen and we learn.

We Diagnose

We carry out a detailed diagnosis of the state of affairs surrounding a client.  We objectively view his business operation – within and without - and evaluate the best options for remedy.

We Stabilise

Creating a stable environment, where trust and confidence can rebuild, is primary.  We implement effective management structures, where tough decisions are highlighted and taken.

We Plan & Then Act

Our recovery and exit plans determine the strategy needed to address key challenges and exploit opportunities.  We work closely with all stakeholders, to ensure smooth processes at every level.

We Communicate

We ensure each step of our activity is taken in a timely matter, with clarity for all stakeholders involved - whether this activity involves restructuring and cost reduction, or liquidation and bankruptcy.

We Monitor

Upon the completion of any project, we continue to oversee our Clients and assist wherever necessary. Such activity can include interim management services and diagnostics.

Our Partners


We help you protect & manage your liquidity

CCM is a credit services & collections company that helps businesses and individuals manage their customer credit and limit risk of default or fraud.

It unlocks liquidity tied up in the credit process and its strong synergies with Revita provides benefits for our clients and seamless services harmonisation.

Working to a strict code of conduct & ethics (ACA and CSA-UK), CCM continually evaluates its interaction with creditors and debtors. Services include:


  • Pre-legal Debt Recovery
  • International Collections
  • Invoice Monitoring
  • Consultation & Training
  • Skip Tracing
  • Liquidation

Glossary of terms


This is a glossary of widely accepted financial & business terms. Terminology can differ, depending on local regulations.


Administration

A process which can be commenced by the board of directors, floating charge holder(s) or company (shareholders) by filing a “Notice of Appointment” or “Notice of Intention to Appoint” at court, to appoint an Administrator, without a court application and hearing.  The process can also be commenced via a court application by a creditor owed more than £750.  A partnership or LLP may also enter into Administration. Administration involves the Administrator seeking a sale of a company’s or partnership’s assets and/or business to satisfy an objective of Administration.  Once an Administrator is involved no action may be taken against a company/partnership without the consent of the Administrator or Court. In Administration the Administrator is an officer of the court and must act in the best interests of all creditors.

Administrator

The Licensed Insolvency Practitioner in office during Administration

Administrative Receiver

A Licensed Insolvency Practitioner who is appointed by a secured lender under the terms of the lender’s charge, to recover monies owed to the lender. 

Administrative Receivership

The procedure by which a Licensed Insolvency Practitioner takes control over the whole of a company’s assets under the terms of a lender’s charge. Administrative Receivership’s have fallen in number since September 2003, with Administration being the preferred insolvency process.

Bailiff

A Bailiff is someone authorised to collect a debt on behalf of a creditor under the terms of a Warrant or Warrant of Execution.  A Bailiff may also take action on behalf of HM Revenue & Customs, a landlord or a magistrates court order without a Warrant of Execution.  This is commonly known as Distraint.

Bankruptcy

Where an individual (a Debtor) is unable to pay their debts and a bankruptcy order is made following the presentation of a bankruptcy petition.  The Official Receiver or Insolvency Practitioner will be appointed as Trustee in Bankruptcy to realise the individual’s assets in order to make a Distribution to the individual’s creditors.  Bankruptcy automatically lasts 12 months, at which point the bankrupt is discharged from bankruptcy, although discharge can end earlier or later than the automatic 12 months depending on the conduct of the bankrupt.  After this time the Trustee in Bankruptcy will continue to deal with the assets of the individual until they are all realised.

Bond

Insurance cover needed by a Licensed Insolvency Practitioner when appointed to deal with the insolvency of a company or individual.  There are two bonds – a general bond and a specific penalty bond.  A general bond must be held by a Licensed Insolvency Practitioner.

Charging Order

An order directing that a charge be registered at the Land Registry on property owned by a company or individual preventing the sale or disposal of a property until the charge has been cleared. This is also a form of enforcing civil debt.  There are two charging orders – interim and final.

Compulsory Liquidation

This type of Liquidation applies where a court has made an order to wind up a company.  It is most commonly used by a creditor who is owed more than £750, but it can also be used by the secretary of state on public interest grounds or by shareholders who think it is just and equitable to wind up their company.  The Official Receiver becomes liquidator but may, in time, be replaced by a Licensed Insolvency Practitioner.

Company Directors’ Disqualification Act 1986

An act which sets out the circumstances in which a person may be disqualified from acting as a director of a company and the duration of the disqualification.

Companies House

Companies House maintains a register of all companies and LLP’s and certain matters in relation to their existence and trading e.g. annual account, Debentures, registered office.

Company Voluntary Arrangement (CVA)

A legally binding agreement between a company and its creditors to repay some or all of its debt over a period of time.  This is a very powerful Business Recovery tool and can literally turn a business around overnight.  Contact us for more details.

County Court Judgement (CCJ)

This is a court issued order acknowledging that a debt is due and you have been unable to pay it as you should have done.  You may be able to agree terms for payment with the court, but if not a CCJ will now allow a Creditor to take further recovery action such as instructing a Bailiff or seeking a Charging Order.

Creditor

Any person, corporate or business who is owed money.

Creditors Committee

A number of persons (between 3-5) appointed to assist the office holder during the course of an insolvency procedure.

Creditors’ Meeting

A creditors’ meeting (also referred to as a meeting of creditors) is called to pass a number of resolutions, such as appoint a licensed insolvency practitioner as either Liquidator (of a limited company) or Trustee In Bankruptcy (of an individual).  Creditors are entitled to attend and vote at meetings in person or by proxy and at some meetings may attend and question those previously in charge of the company.

Creditors’ Voluntary Liquidation

The company is insolvent and the shareholders have passed a resolution to place the company into Liquidation.  A Statement of Affairs is produced by the directors of the company to show creditors what assets may available.  The company is unable to pay its debts in full and a Liquidator will be appointed to realise its assets and/or recover as much money as possible to make a Distribution to creditors.  A limited liability partnership (LLP) may also enter into creditors’ voluntary liquidation.

Debtor

This term is used by Insolvency Practitioners, insolvency solicitors and courts to refer to an individual who owes money to his/her Creditors.  It may also be used in the context of a debtor company.

Declaration of solvency

A summary statement showing the assets and liabilities of a company together with a statement that the company will be able to pay its debts together with interest and costs within 12 months of the liquidation commencing.  It is required in a Member’s Voluntary Liquidation to demonstrate that the company is solvent.  It is sworn by the majority or all (where they number less than 2) of directors.   Making an incorrect declaration (i.e. where the business is insolvent) can have severe consequences.

Debenture

A document granting security over a company’s or LLP’s assets in exchange for borrowing. The term is used to describe a document which would contain a Fixed Charge as well as a Floating Charge.  Debentures once created must be registered at Companies House for all to see.

Distraint

Is the seizure of someone’s property in order to obtain payment of money owed.  Distraint may be as a result of the exercise of a warrant of execution by a Bailiff on behalf of a creditor, it may be by the statutory right to distrain e.g. HMRC in relation to tax debts, or it may be the common law remedy available to landlords for the non-payment of rent.  Once distraint has occurred goods may be removed and sold at auction in an attempt to recover money owed.  If distraint has occurred or is threatened urgent advice is needed to protect your assets.

Disqualification

A director of a limited company can be disqualified if, during his term of office, a Liquidator, Administrator or Administrative Receiver establishes sufficient evidence of “unfit” conduct. The Department for Business, Innovation and Skills (BIS) make the decision based on the information provided by the Liquidator, Administrator or Administrative Receiver.

Dissolution

A company is dissolved when it is removed from the register at Companies House.  It is possible to do this voluntarily if, amongst other things, the company ceased trading at least 3 months earlier.  After a company is dissolved it is possible to restore it to the register before subsequent action is taken, but this is very unlikely to happen if it was preceded by a Liquidation or Administration.

Dividend or Distribution

This is where the Licensed Insolvency Practitioner who is holding the office of (for example) Liquidator makes payment to the creditors of the insolvent company from the funds he is holding.

Fixed Charge

Security granted by a company or limited liability partnership charging a particular asset (e.g. land and buildings) in exchange for borrowing. The borrower’s power to deal with the asset concerned is restricted.  The assets are normally significant or immoveable but are recognised by being specifically identifiable and ultimately under the control of the lender.

Floating Charge

Security granted by a company or limited liability partnership charging general assets in exchange for borrowing.  The borrower’s power to deal with these assets is not restricted as it is when it is an asset subject to a Fixed Charge.  Floating Charge assets include debtors (unless these are secured by a Fixed charge in favour of a factoring or invoice discounting provider), stock and office equipment.

Fraudulent Trading

This occurs where a company is run with intention of defrauding creditors.  Proving Fraudulent Trading is often very difficult to do as the criminal burden of proof must be overcome – that is establishing beyond reasonable doubt that the company was run with the intent of defrauding creditors.  It is covered by Section 213 of the Insolvency Act 1986. 

Individual Voluntary Arrangement (IVA)

A legally binding agreement between a person and his/her creditors to repay some or all of its debt over a period of time.  It is a solution for overindebted individuals and sole traders who are struggling to pay their debts.  It avoids the consequences of bankruptcy but can typically last for 5 years.  Contact us for more details.

Insolvency Act 1986

The framework of current Insolvency law in the United Kingdom by which all Insolvency Practitioners and Insolvency procedures are governed.

Insolvent Liquidation

Creditors are not paid in full in an insolvent liquidation.  An insolvent liquidation will either take the form of a Compulsory Liquidation or Creditors’ Voluntary Liquidation.

Insolvency Practitioner or Licensed Insolvency Practitioner

A person licensed by his/her recognised professional body to be competent to hold an Insolvency Licence and hold office as a Trustee In Bankruptcy, Nominee or Supervisor in relation to a voluntary arrangement, Liquidator, Administrator or Administrative Receiver.  Only Insolvency Practitioners are licensed, regulated and insured to provide Insolvency advice and administer Insolvency procedures.  Each Insolvency Practitioner has a licence number.  To check whether your adviser has an Insolvency licence click here

Licence Holder

A person who holds an insolvency licence issued by one of the recognised professional bodies and who is thus regulated by that particular body. Any complaints regarding a license holder should be notified to the licence holder’s regulating body. If you wish to make a complaint you should ask the Insolvency Practitioner for the details of their particular regulating body.

Lien

A right of an individual or corporate to keep possession of assets or documents belonging to another individual or corporate until an outstanding debt is settled.  Liens over books and records are unenforceable in most Insolvency procedures.

Liquidation

A process which involves the winding up of a company’s life, the disposal of its assets, collection of its debts and the distribution of the proceeds to the company’s creditors in the priority laid down in the Insolvency Act 1986.

Liquidation Committee

A Creditors Committee appointed in a Liquidation.

Liquidator

The name given to the Insolvency Practitioner in any type of Liquidation.  The Liquidator’s duty is to realise the assets of the company or partnership and distribute any available proceeds to creditors.  Note the Official Receiver may only be liquidator in a Compulsory Liquidation.

Members’ Voluntary Liquidation

The company is solvent and the directors make a Declaration of Solvency confirming that the company is able to pay its debts and liabilities together with costs and interest in full within 12 months.  Any surplus remaining is distributed to shareholders who will be able to claim Entrepreneurs Relief on this distribution./p>

Misfeasance

Breach of duty by a company’s directors in respect of their dealings with company funds or property.  A Liquidator has a right to sue a company director for Misfeasance.

Moratorium

A freeze on any legal or other process for a specific period of time.  Moratoriums are available to Individuals and Companies/Partnerships under different Insolvency Procedures such as an IVA, CVA and Administration.

Official Receiver

A representative from the Insolvency Service – an arm of the Department of Business Innovation and Skills responsible for the court based Insolvency procedures - Bankruptcy and Compulsory Liquidation.

Partnership Voluntary Arrangement (PVA)

A legally binding agreement between a partnership and its creditors to repay some or all of its debt over a period of time.  It is a solution for partnerships who are struggling to pay their debts.  It is designed to allow the partnership to continue trading and repay its historic debts out of future profitis.  It avoids the consequences of winding up the partnership and will typically last for up to 5 years.  Individual Voluntary Arrangements may also be needed for the partners.  Contact us for more details.

Petition

A document presented to the court and used by creditors, individuals or directors to commence proceedings to wind up a company (Compulsory Liquidation) or make an individual bankrupt.

Preference

A type of transaction carried out by a company’s directors, or a Debtor prior to bankruptcy, intended to favour one creditor over another (also known as putting them in a better position).  For example – John owes Mary and Fred £15,000 each, John receives £20,000 and chooses to give £15,000 to Mary but only £5,000 to Fred – this transaction was intended to favour Mary and could therefore be a Preference.  Preference transactions can be challenged by a Liquidator, Trustee in bankruptcy or Administrator if they took place within the period of 6 months ending with the onset of Insolvency or the presentation of the bankruptcy petition or in the case of a connected party within 2 years ending with the onset of Insolvency or the presentation of the bankruptcy petition. and if successful can result in payments being recovered from either the beneficiary of the Preference or the directors of the company.

Preferential Creditor

A creditor(s) with special rights who is paid ahead of unsecured creditors. The best example of this would be employees, who rank ahead of unsecured creditors for arrears of pay, accrued holiday pay and pension contributions in certain circumstances.  Many people think HM Revenue & Customs have this elevated status, but this was lost on 15 September 2003 when they became non-preferential creditors.

Proof of Debt

A form which gives details of what is owed to a creditor or individual and should be completed and signed for submission with a proxy form. http://www.bcr-insolvency.co.uk/Proof%20of%20Debt%20-%20Bankruptcy.doc to download a sample proof of debt form.

Proxy Form

A form giving a creditor or a member/shareholder the right to vote at a creditors’ or members’ meeting when they cannot be present by appointing a proxy holder to vote on their behalf.. 

Reservation of Title

A clause used in a contract by a seller to retain legal title to the goods they have supplied until such time as they are paid for.  Under the Sale of Goods Act title passes upon delivery unless this default position is changed within the terms and conditions of supply/purchase.

Secured Creditor

A creditor who holds security over a person’s/company’s assets, e.g. a bank, or other financial institution. This class of creditor is paid before unsecured creditors.

Shadow Director

A person upon whose instructions the directors of a company are used to acting.

Statement of Affairs

A document detailing a individual’s/company’s assets and liabilities.

Summons
Order to appear or to produce evidence to a Court.

Statutory Demand

A document issued by someone who is owed a debt. The party receiving it has 18 days in which to apply to set it aside. You should take it seriously and contact the person pursuing you to discuss your situation with them. Likewise if your company is issuing a statutory demand against another company, make sure that the debt is due and owing to your company at the time of issue. If you are the creditor and have not received any communication after 21 days, you may proceed to petition for the compulsory winding up of a company or the bankruptcy of the individual.

Transaction at an Undervalue

The selling off of a company's or individual's assets or any other transaction which occurs at a significant reduction in value within the 2 years ending with the onset of insolvency in the case of a company, or within the 5 years ending with the presentation of the bankruptcy petition for an individual.  Transactions at an undervalue can be challenged by a Liquidator, Trustee in bankruptcy or Administrator and if successful can result in the assets being recovered and sold for the benefit of creditors or payment being recovered from either the beneficiary or the directors of the company.

Trustee in Bankruptcy

The position held by the Official Receiver or Insolvency Practitioner in relation to Bankruptcy.  The Trustee will deal with the conduct of the Bankruptcy and sale of the bankrupt’s assets in an attempt to secure repayment for the bankrupt’s creditors.

Unsecured creditor

Any creditor who does not hold security (such as a Fixed Charge or a Floating Charge) over the insolvent individual’s/company’s assets.  This class of creditor will rank last of all in cases where a Distribution is likely to be paid out of the insolvency procedure.

Walking Possession

An agreement signed by a debtor not to remove goods levied by a bailiff under the authority of a warrant of execution and to allow the bailiff access at any time to inspect the goods, in consideration of which the bailiff leaves the goods in the possession of the debtor.

Winding Up

A process involving the issue of a petition through the court to wind-up a company. The company is then placed into Compulsory Liquidation.  The term is sometimes used in the context of a Creditors’ Voluntary Liquidation – a voluntary winding up.  In essence the ‘winding up’ is about the company going into Liquidation.

Writ

Writ issued by the court directing a sheriff to levy execution upon a debtor’s goods.

Wrongful Trading

This occurs where the directors of a company have failed to take every step to minimise losses to creditors when they knew or ought to have known that there was no reasonable prospect of the company avoiding Insolvent Liquidation.  When wrongful trading has occurred a Liquidator has a right to sue the directors for a contribution towards the loss suffered by the creditors. The right to sue is only available to a Liquidator in an Insolvent Liquidation, it is not available in Administration.  Wrongful Trading is covered under Section 214 of the Insolvency Act 1986.

Contact us


Contact us weekdays during offices hours, for further information.
All discussions are private & confidential at all times.

19 Panayi Lappa Str., 3075 Limassol Cyprus
(+357) 25 25 60 80
info@revitaconsult.com
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