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Pick Yourself Up With A Company Voluntary Arrangement

October 2010, Sir Steve Redgrave and Michael Campbell a former US open golf champion are in the back of a courtesy car returning to their hotel after a practice round of golf at the Alfred Dunhill Links Championship.

Michael Campbell turned to Sir Steve Redgrave and said “Winning a major championship was like conquering Everest. What can I do to better that?” with a blink of an eye Steve said “Conquer Everest without an oxygen mask” Michael thought to himself “you clever so and so”.

Since winning the US Open, Michael had fallen from grace and was in the midst of making only one cut out of nineteen and earning just £11,000 for the season, it was in Doha and Campbell had missed his 12th cut in a row “this is the last straw” he said to himself “I’ve had enough”.

Other golfers like Baker-Finch, winner of the Claret Jug in 1991, shot a 92 at the Open in 1997, cried in the locker room and withdrew from the event and retired from the professional game, also David Duval, the Open Champion in 2001, has not won a PGA tournament since.

Campbell said “I didn’t reset my goals, I became lazy and got so busy in the off- the- course business regarding golf course design, charity days and the like”.

But you have to believe in yourself work hard and things will turn around. He took heart from Lee Westwood, who burst onto the golf scene and became number one in the world in 2000, only to fall to number 246th in 2002, but Lee buckled down and became number one in the world again in 2012.

So after resetting his goals and working with his former coach Jonathan Yarwood, getting himself fit, which took three years, Campbell has since had six top 20 finishes, including third at the Portugal Masters.

He is now 235th in the world up from 910th. Is he back? Well it’s a long way from Everest but at least he can see the top again.

To pull yourself back up from the brink takes a lot of courage and dedication, when its all so easy to just walk away – or is it? If you’re the Managing Director of a company that is in debt – just walking away could leave you with all sorts of problems later on.

For instance – If you receive a Winding up Petition and do not act, then you will be wound up and you will be contacted by the Official Receiver to explain you’re behaviour – whilst they pick through your assets.

If you’d have known about a Company Voluntary Arrangement maybe you’d have done things differently. Company Voluntary Arrangements take care of unsecured debts and Winding up Petitions, leaving you with a viable company again. Now isn’t that worth fighting for?

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