New rules to tackle insolvent but struck off companies

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 […]

Who gets paid first when a company goes into liquidation?

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 […]

Bounce Back Loans

Will I be personally liable for a Bounce Back Loan if I close my company?