From the 12th May the Insolvency Service has been given new power to investigate directors of dissolved companies and apply fines and bans from acting as a director. This new legislation gives the Insolvency Service the power to revisit dissolved companies that took Bounce Back Loans and Coronavirus Business Interruption Loans that have closed and […]
David Kirk’s latest article published in the London Gazette can be found here: https://www.thegazette.co.uk/insolvency/content/103900 What is the order in which creditors get paid when a company is insolvent? David Kirk, a chartered accountant and licensed Insolvency Practitioner at Kirks, explains who gets paid first during liquidations and administrations. Which creditors get paid first when a company […]
Will I be personally liable for a Bounce Back Loan if I close my company?