Insights


6

Sep

How do Insolvency Practitioners get paid?

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Posted by:     |     Category: Blog

If you’ve reached the point where your company is no longer solvent, then you’ll need to look at which options are available. Insolvency Practitioners (“IPs”) often refer to their “toolkit”. The insolvency regulations are designed to provide a solution for (almost) every scenario which a company might find itself in. Although the number of face to face meetings has obviously reduced in the last 18 months, IPs will offer...

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...

23

Jul

65% of accountants claim clients are making rash decisions under pressure, according to our latest survey.

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Posted by:     |     Category: Blog

12 months on from our first survey, the relationship between company director and their accountant is still as vital as ever. The transition to what will be the ‘new normal’ in regard to trading is prompting requests for further advice and one-off pieces of work. Financial support from the government is tailing off and business owners will need to make some tough decisions. Just as it has been over the last 18 months, the impact...

16

Jul

Wrongful trading suspensions lifted – Are company directors now exposed?

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Posted by:     |     Category: Blog

The temporary suspension of liability for wrongful trading was originally introduced in March 2020, under section 12 of the Corporate Insolvency and Governance Act 2020. Apart from a small period between 30 September and 26 November 2020, the suspension has been in place until 30 June 2021. This means UK directors could now be subject to a wrongful trading claim. A claim could hold them personally liable if they continued to trade...

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...


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