In the current economic climate, many businesses are facing financial difficulties. In addition to the lasting effects of COVID, businesses in practically all sectors are facing a range of challenges related to the impact of Brexit, the Ukrainian war, rising energy prices, inflation, the cost-of-living crisis and supply chain disruptions. In addition to these problems,…
Tag: Licensed Insolvency Practitioner
Directors’ Liability for Unpaid Company Debts
At a time when businesses in all sectors are facing a wide range of financial pressures, it’s important to be aware of directors’ liabilities for failing to pay company debts. In the current economic landscape, many businesses are continuing to face financial problems, following factors including Brexit and the pandemic. The result has been that…
Company Insolvency – Early Signs to Look Out For
As the cost of living crisis continues with no sign of it ending in the near future, increasing numbers of businesses are facing company insolvency. Each week in the news, there are headlines of companies of varying size and sectors going into administration, so it’s important for directors to be aware when their business is…
Creditors Voluntary Liquidation: The CVL Process and How it Affects Directors
The decision to liquidate an insolvent company is always a difficult one to make; however, as is the case with many aspects of running a business, it is important to act quickly and decisively. Taking the initiative to liquidate the company will release the company assets and settle company debts before the possibility of a…
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…
Is a Members Voluntary Liquidation the Right Exit Strategy for You?
It’s a common misconception that a Licensed Insolvency Practitioner can only help when a company is insolvent.They can also be called upon for advice and assistance with closing a solvent business. If you are ready to exit your business, have you considered that a Members Voluntary Liquidation (MVL) may be a suitable exit strategy for…