When it comes to a company entering into liquidation there are some important differences between the compulsory and voluntary routes, not least for the directors of the company. […]
Insolvent Liquidation
Insolvency Law
Fees in Insolvency Proceedings
Changes to UK insolvency law that came into force on 1st October 2015, give creditors a better insight into the fees charged by Insolvency Practitioners (“IPs”) over the life of a Creditor’s Voluntary Liquidation, Administration or Bankruptcy. […]
Directors have a legal duty to ensure that their company is not trading whilst insolvent. But what does “trading whilst insolvent” really mean and how can it correctly be identified? This article provides an overview of the insolvency tests that can be applied to help company directors make an appropriate assessment of the situation. […]
The number of people being declared bankrupt has reduced sharply in recent years, possibly because the threshold required for a creditor to issue a bankruptcy petition is £5,000. […]
We discuss the impact of intermediaries’ legislation (IR35) on contractors and their Personal Service Companies (PSCs). […]
When a director fails to fulfill their legal responsibilities, they run the risk of disqualification. The rules of disqualification are laid down in the Company Directors Disqualification Act 1986 (CDDA); the act is designed to restrict the abuse of the limited liability company structure. […]
Insolvency Law
Overdrawn Directors’ Loan Accounts in Insolvency Procedures
We discuss overdrawn directors’ loan accounts (DLA) and explore how they can be a complex issue for Directors, especially if their company is insolvent and needs to enter an insolvency procedure. […]
Details of the proposed changes to company strike-off, through greater powers for the Secretary of State to investigate the conduct of Directors of dissolved companies. […]
The most significant changes to insolvency legislation (in England & Wales) in the last three decades were introduced on the 6th April 2017, aimed at modernising and updating present procedures. […]
