Insolvency
What happens during a liquidation investigation?
When a company goes into insolvent liquidation, the liquidator will investigate the actions of the directors to determine to what extent, if any, they are responsible for the company’s failure. They will carry out an investigation whether you choose to liquidate the company voluntarily or it is forced by the court.
What happens at a creditors' meeting when a company is insolvent?
When a company becomes insolvent, a meeting of creditors is often called to explain why the business has failed and/or to vote on the next proposed step.
Limited Company Cannot Afford To Pay Outstanding Creditors
If you cannot afford to pay creditors, seek a company restructuring solution or voluntary liquidation procedure to protect creditor interests
What happens when a charity is insolvent?
A charity - just like any other company - has the potential to become insolvent. This occurs when it is unable to meet its outgoings as and when they fall due, or when liabilities outweigh its assets
What does HMRC’s preferred creditor status actually mean?
HMRC has regained its status as preferential creditor in insolvent liquidations but what exactly has changed and why has the government taken this action?
Understanding your rights with HMRC Enforcement Officers/Bailiffs
Following a notice of enforcement, HMRC bailiffs or a HMRC enforcement officer can take control of goods to recover unpaid HMRC debts, such as VAT.
Construction sector woes deepen as lag effect of inflation spike erodes wafer-thin margins
The UK construction sector remains at the forefront of UK industry insolvencies.
How is an insolvency practitioner appointed?
The route by which an IP is appointed varies according to the insolvency procedure being followed.
What is an intervention procedure when professional firms become insolvent?
In England and Wales, the Solicitors Regulation Authority (SRA) has the power to close down professional firms under certain circumstances.
Understanding Freezing Orders for Company Directors
Begbies Traynor can advise on what to do if your company’s assets are frozen, and offer a same-day meeting so that action can be taken quickly.
Understanding employee redundancy during liquidation
Understanding the rights of your employees in redundancy is an important part of any insolvency procedure. Here we look at what happens during various administration and liquidation processes, plus the way in which redundancy entitlement is calculated.
What are preference payments to creditors?
When a company enters administration or is liquidated, the conduct of directors leading up to insolvency will be investigated.
Understanding High Court Writs and How to Protect Your Business
High court writs are used by creditors to enforce unpaid court judgments (CCJs). Is your business facing action by high court enforcement officers (HCEOs)?
Glossary of Insolvency Terms
Here you will find a glossary of terms that relate to common insolvency terms
