Debentures and how to use them to your advantage
A debenture is a legal mortgage taken on a limited company to secure a loan, an overdraft or invoice discounting. They are often used by banks and factoring companies.
Voluntary arrangement – what is it?
A voluntary arrangement is a legally binding agreement between an individual, a partnership or company and all its creditors.
What can go wrong for the directors on insolvency?
For most company directors insolvency is not something that they have experienced before.
What can employees claim in a liquidation?
We often see companies that have been established a long time that cannot afford to downsize and make staff redundant due to the costs.
Spring 2022 Newsletter
Click below to read the full Spring 2022 Newsletter Spring 2022 Newsletter
Insolvency News – Autumn 2021 Newsletter
October 2021 Newsletter
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?
What to do if you receive a winding up petition from HMRC
Read David Kirk’s latest article published in the London Gazette. If you have failed to pay arrears and/or have missed payments, HMRC can apply to the courts to have your company wound up to recover debts. Chartered accountant and licensed insolvency practitioner, David Kirk explains what to do if you receive a winding up petition […]
