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Insolvency Articles

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Administration

Administration Sale: Tips for buying a business from an Administrator

With the current economic landscape witnessing the highest number of company insolvencies in 30 years, there are more opportunities than ever to acquire struggling businesses. Tom Grummitt, Insolvency Practitioner & Partner at Bridgewood, shares valuable advice from his experience. In the year 2023 alone, over 25,000 companies faced insolvency, marking a significant uptick – the […]

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By Tom Grummit

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Insolvent Liquidation

Insolvencies jump in 2023

Last year saw a surge in corporate insolvencies across England and Wales, with the Insolvency Service documenting a total of 25,158 cases, marking the most recorded since 1993. The breakdown of these figures reveals 20,577 instances of voluntary liquidations – a 9% increase from the previous year and the highest figure since 1960 – along […]

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By Rick Lees

Insolvency

Who Pays the Fees for an Insolvency Practitioner?

When a company is facing financial difficulties, the director may choose to appoint an Insolvency Practitioner to manage the process of restructuring or winding up the company. One question that often arises is, who pays the Insolvency Practitioner’s fees? In this blog post, we will discuss the responsibilities of the company, the Insolvency Practitioner, and […]

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By Robin Tarling

Insolvency

What is the Insolvency Practitioners Association (IPA)?

As a company director, you may have come across a regulatory body called the Insolvency Practitioners Association (IPA) but may not be clear on what it actually is and how it operates. In this blog post, we will provide a clear understanding of the Insolvency Practitioners Association and its role in the world of insolvency. […]

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By Robin Tarling

Insolvency

Understanding Insolvency Practitioners: A Comprehensive Guide for CEOs and Managing Directors

As a company director, you may be aware of insolvency practitioners but might not fully understand their role. An insolvency practitioner is a licensed and regulated professional who provides specialist advice and services to individuals, companies, and their creditors during financial distress. In this blog post, we’ll be exploring what an insolvency practitioner does, how […]

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By Robin Tarling

Insolvency Law

How Long Does the Insolvency Process Take? A Guide for Company Directors

Navigating insolvency can be a daunting experience. It not only entails financial loss and potential redundancies, but also a challenging legal process that can be lengthy. How long does insolvency take? The answer is complex and depends on several factors. In this post, we will guide you through the insolvency process and estimated timelines to […]

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By Robin Tarling

Liquidation

A Guide to Understanding What Happens to Company Assets During Liquidation

As a company director, it is essential to know what happens to your company’s assets during the liquidation process. Liquidation is a process of selling off all company assets to pay off debtors or creditors. The process can either be voluntary or involuntary, and it is usually initiated when a company can no longer pay […]

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By Robin Tarling

Liquidation

Understanding the 4 Stages of Liquidation – A Guide for Business Directors

There are normally between 1,500 and 2,000 company voluntary liquidations each month, and it is a sad reality that many directors will find themselves needing to do this at some point.  To most this will be an unknown process and the task of taking a company into liquidation can seem overwhelming, especially if directors are […]

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By Robin Tarling

Liquidation

What questions should I ask when appointing a liquidator for my company?

Choosing a liquidator for your company is not an easy decision. This person will be responsible for the financial and legal aspects of winding up your business, so you need to make sure you choose the right person for the job. In this blog, we’ll discuss the questions you need to ask when appointing a […]

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By Robin Tarling

Directors

What Are Your Responsibilities as a Director When Liquidating Your Company?

Liquidating a company is a daunting task, filled with numerous legal and financial obligations that require careful consideration and planning. As a director, it is your responsibility to make sure that any actions prior to liquidation are carried out in accordance with the law and all stakeholders are protected. In this blog, we will explore […]

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By Robin Tarling

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