The lowdown on directors’ responsibilities
When you become a company director you take on a whole new set of responsibilities. Directors are effectively the agents of the company, appointed by the... [Read more...]Filed Under: Business Insolvency
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CVAs: the positives and the negatives explained
Company Voluntary Arrangements (CVAs) are a business rescue procedure. They were introduced to provide a flexible way of restructuring a troubled business... [Read more...]Filed Under: CVA, Business Insolvency, business recovery
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How to protect your company from a winding up petition
If a creditor has brought a winding up petition against you, there are a number of legal defences available to you depending on which stage the winding up... [Read more...]Filed Under: Business Insolvency, Business rescue, winding up petition
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County court judgments: the facts
When a creditor is not paid, they may seek to get a County Court judgment (CCJ). Applying for a CCJ is a serious step which creditors can turn to once all... [Read more...]Filed Under: Business Insolvency, Business rescue, CCJ
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A guide to trading while insolvent
Trading while insolvent is the legal term used to describe a business continuing to trade despite being insolvent. A company is insolvent when it can’t... [Read more...]Filed Under: Business Insolvency
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Your most popular liquidation questions answered
Liquidation is the process of closing a business and selling its assets to pay back its debts (also known as creditors). In a business liquidation, the... [Read more...]Filed Under: liquidation, Business Insolvency
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Seven tips for directors of insolvent companies
Running a company can be stressful at the best of times. But if your business is undergoing financial difficulty and creditors are waiting to be paid,... [Read more...]Filed Under: Business Insolvency
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What happens after insolvency?
‘Insolvency’ describes both the situation an insolvent company is in and also the various legal procedures for dealing with this situation under the... [Read more...]Filed Under: Business Insolvency
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What’s the difference between wrongful and fraudulent trading
Introduction While wrongful trading and fraudulent trading are both unacceptable business practices during an insolvency process, one is a civil offence... [Read more...]Filed Under: Business Insolvency
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What options do you have when dissolving your company?
If you want to close your company fast, dissolution is often the recommended process. The other term you may have heard is ‘striking off’, which is the... [Read more...]Filed Under: Business Insolvency