The past few years have brought about increased financial challenges for businesses worldwide. Many companies have been forced to restructure their finances, either through insolvency proceedings or the increasingly common process of debt restructuring. Corporate Rescue Exemption is a legal provision that allows struggling companies to recover from financial difficulties without going through the formal…
Tag: Insolvency Practitioner
What are the Key Warning Signs for Business Insolvency?
When a company’s liabilities exceed their assets and they are unable to repay all money owed to creditors (even if they were to sell off all assets), they are legally insolvent. The consequences can be severe and in some cases, a company may not be able to recover, so it’s important to be aware of…
Business Insolvency – What to do if Your Business is Insolvent?
It’s quite common for people to ask what business insolvency really means. The simple explanation is that a business is insolvent when they can no longer afford to pay their debts as they are due, or if their liabilities exceed their assets. However, as there is so much confusion around the term, it is not…
What is an Insolvency Practitioner?
An Insolvency Practitioner, often referred to as an IP, is a financial professional who is licensed to act on behalf of businesses and individuals when they are experiencing financial difficulties and/or facing insolvency. The majority of the time, IPs are approached by companies who are in need of help in saving or closing their business,…