New powers for the Insolvency Service to target misuse of dissolution

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...



Has government support stemmed the natural attrition of entrepreneurship?

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

Insolvencies are at a record low at a time when some industries have had their worst year in history. Companies have had to increase their debt and struggle for a return to pre-Covid turnover before being able to even think about repaying those debts. A storm might just be brewing. The Insolvency Service statistics in March 2021, comparing company insolvencies registered in March 2020 and March 2019 showed: Compulsory liquidations...



Is this the end of the phoenix?

Posted by:     |     Category: Blog, Pre-Pack Administration

Pre-pack administrations have always been under intense scrutiny. They offer viable businesses under the immense pressures of debt the option to legally sell their business assets to a new company. The new company continues trading and with this there’s very little disruption in the changeover, and normal operations resume quickly. This scenario is likened to the analogy of the phoenix rising from the ashes. A new, stronger...



How do you know when the time’s right to speak to TruSolv?

Posted by:     |     Category: Blog

There isn’t a formula for calculating the precise moment to reach out to our team. Like many situations, it really depends on your circumstances. One thing we’re clear on, is the earlier we’re made aware of what’s going on in your business, the more options may be available for you. But, how early is early? Let’s discuss the typical conversations we’re having with company directors, at the moment. Business owners who...

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