FAQs

An Insolvency Practitioner (IP) is a trained insolvency specialist who has a licence to practice in this field. This means they have the relevant exam…

In this tough economy, many small business owners find themselves on the brink of throwing in the towel; but how do you know when it’s…

Administration should achieve one of three statutory objectives. These are: 1) Rescue the company as a going concern. 2) If the above is not possible,…

A Company Voluntary Arrangement (CVA) is a legally binding document where you agree to pay back your creditors over a period of time. It is…

Refinancing is something a director and company owner does as a matter of course during the life of their business. This could involve meeting with…

In many circumstances, the law applies not only to a director of a business, but also to a shadow director. A shadow director is a…

The Insolvency Act lays down a few simple insolvency tests, two of which stand out: Balance sheet test – Are your assets less than your liabilities? If…

There are circumstances where directors of companies in financial trouble can be held personally liable for debts incurred by the company.  The main area of…

One common concern for anyone who is an owner of a business whether they can buy their business back after the liquidation or administration process? The answer…

As a director of a limited company, the law says you must: Try to make the company a success, using your skills, experience and judgment…

A winding up petition is by far the most serious action that can be taken against your company. Often it arises because a creditor feels that they…

As a director of a limited company, you have certain legal obligations and responsibilities – these include: Try to make the company a success, using…

A pre-packaged sale (hence the term, ‘pre-pack’) refers to an arrangement under which the sale of all or part of a company’s business or assets…

A pre-packaged sale (hence the term ‘pre-pack’) refers to an arrangement under which the sale of all or part of a company’s business or assets…

The thought of having to go in to administration can be embarrassing and a little intimidating for many company owners. But it needn’t be. That’s…

Administration can be an intimidating process for many company directors, however it is a great tool for recovering a business when used properly. Entering into…