Company Liquidation


6

May

Company directors are taking action over build up of debt

The latest statistics from the Insolvency Service have been released for the period between 1 January and 31 March 2022.  It’s no surprise really to see that the number of registered company insolvencies has increased slightly on the previous quarter, and significantly on comparison to the same period last year. Let’s take a look at the numbers in a bit more detail. Comparing Q4 2021 to Q1 2022, there’s been a 6% increase...

16

Dec

Will my client be investigated if they dissolve the company?

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Posted by:     |     Category: Blog, Company Liquidation

Earlier this year we highlighted the proposed changes in legislation to grant new powers to The Insolvency Service to target misuse of dissolution to close an insolvent company. The Ratings (Coronavirus) and Directors Disqualification (Dissolved Companies) Act 2021 received no resistance from MPs and has now received royal asset and formally become as Act of Parliament. What’s behind the change? Prior to The Ratings (Coronavirus)...

11

Aug

Employee Rights: How You’re Affected By An Employer’s Insolvency

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Posted by:     |     Category: Blog, Company Administration, Company Liquidation

If you’re an employee of a company which is insolvent, you’ll understandably have lots of questions. Will I get paid? When will I get paid? Is there any possibility of the company being saved? It’s an uncertain time for all involved. As an employee, you’ve certain rights under the law, even when the company you work for is insolvent. You also have rights protecting your contract should the business be sold or transferred...

28

Jun

Restrictions on Commercial Evictions Extended – What about the Landlords?

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Posted by:     |     Category: Blog, Company Liquidation, News

Earlier this month, the UK Government announced the current restrictions on commercial evictions will be extended until 25 March 2022. Another tough decision. This might save a few tenants by allowing commercial rent arrears to be ringfenced and guiding both parties to reach an agreeable repayment plan. But will this encourage tenants to sit on their hands for a few more months? If the tenant ends up in an insolvency process, the...

17

May

New powers for the Insolvency Service to target misuse of dissolution

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Posted by:     |     Category: Blog, Company Liquidation

What to do with an insolvent company can be more complicated than it might first appear. It’s insolvent, stick it into liquidation. But what if the company only has liabilities and no assets at all? What if the directors aren’t in a position to contribute to pay for the liquidation? If there’s no assets and no prospect of any realisations which might enable a distribution to the creditors, then the outcome to the creditors...


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