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Why You Should Consider Simple Liquidation for CVL & MVL in the United Kingdom

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Having to admit insolvency and face liquidation is not easy for any company director. No liquidation process is easy but what will make the process simpler is professional liquidation solicitors. When entering into a CVL (Creditors Voluntary Liquidation) or an MVL (Members’ Voluntary Liquidation) process, it must be handled by a licensed insolvency practitioner (IP) […]

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Is It Possible in the UK to Takeover a Limited Company that’s in Receivership or Liquidation?

Leave a Comment / Business Recovery /

When a limited company enters receivership, also known as administrative receivership, it is usually because it has serious cash flow problems and is insolvent. The same can be said for a company being liquidated. Both processes are for insolvent limited companies and must be handled in accordance with the Insolvency Act 1986. However, the process

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Is There a Difference Between Insolvency and Bankruptcy?

Leave a Comment / Insolvency /

There is a mistaken belief that insolvency and bankruptcy mean the same thing. However, whilst the terms do have similarities, there are several distinct differences between the two. First and foremost, insolvency is the financial state of a company or an individual, whereas bankruptcy is the legal procedure when an individual has been declared insolvent.

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How to Overcome Financial Loss Issues with a Reliable Insolvency Company

Leave a Comment / Insolvency /

Businesses in the UK are battling the onset of the Omicron coronavirus variant which threatens recovery across the UK, due to the re-introduction of restrictions, and may be a cross too much to bear for many. Insolvency has been knocking on the door throughout the past couple of years but closing the business doesn’t always

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Business Continuity Plan

How to Close an Insolvent Company with Debts and No Assets

Leave a Comment / Business Recovery /

When an insolvent company is liquidated and closed down, its assets are sold to raise the necessary funds to pay back the company’s creditors. Whilst not every creditor is likely to get their money back, most priority creditors are successful. There are two forms of insolvency procedure for a company with debts and assets –

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Is My Business Eligible for the Recovery Loan Scheme?

Leave a Comment / Business Recovery /

In April 2021, the government launched a new loan scheme to help businesses recover from Covid-19. In partnership with a number of financial institutions, the Recovery Loan Scheme (RLS) helps companies that have been affected by Covid-19 with funds being made available to assist them with cash flow, investment in equipment or staff and business

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