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More than 100 small businesses will launch a £1bn lawsuit against Royal Bank of Scotland over allegations that they were mistreated by its turnaround division....
The Co-operative Bank is set to give top executives pay rises, despite the lender's huge losses, in order to side step Mark Carney's ban on paying their staff bonuses...
There were 3848 winding up petitions in 2015 (compared to 3074 in 2014) issued by HMRC against companies unable to pay their tax bills. This represents a huge rise of 13%!...
The last three months has seen more British companies issuing profit warnings than in any second quarter since the financial crisis began in 2008...
In 2015-16 the Financial Service Ombudsman recorded an 86% increase in complaints about credit reference agencies from the previous year...
If you have a client running a business how do you quickly know if the business is insolvent or may be close to being insolvent?....
The travel company, Lowcost Travel, which called in the Administrators on Friday night will formally liquidate its main holiday business as early as next week....
Britain's economy has gone into reverse since last month's Brexit vote, figures are set to show this week....
The Bank of England is set to slash interest rates this week, possibly to as low as zero, as it looks to cushion the blow to the economy as a result of Brexit....
Towns that voted in favour of leaving the EU last month are among the first to be effected as manufacturing jobs are being lost....
A recent survey carried out by R3 (the trade body of the insolvency professionals) into the dealings of insolvency practitioners with HMRC makes for some very disappointing reading.
In 2015/16 there were 1,208 director disqualifications compared to 1,210 in 2014/15 – an increase of two!....
Should a taxi driver (without any employees) be operating within a limited company or be self- employed?
I’d say so. Again, I know I'm biased but I’d say the most important relationship a business owner has is with his accountant. Most successful businesses have an accountant or a ‘beanie’ very close – and a successful relationship will last for years and help the business evolve.
Accountants often say to me “I'm not sure what to say to a client when his business enters the murky world of insolvency and starts asking tricky questions like ....
In the present bank lending climate most banks are reluctant to lend to any company with a hint of balance sheet weakness. Could a Company Voluntary Arrangement (CVA) be used as an alternative cost-effective way to restructure a company balance sheet?
Whenever I hear a discussion in the media about personal debt I hear the names of 'debt charities' enthusiastically put forward by the presenter....
Insolvency Ahead! A Recent Court Case.
Good Job From The Insolvency Profession!
Looking At The Whole Picture!
“That's What My Accountant Told Me To Do!”
IVA providers - they're all the same aren't they?
A Guide To Buying An Insolvent Business
Business Difficulties? Help is at hand!
UK Personal Debt - Some Interesting Facts…
I’ve also been at Griffin & King for 30 years later this year. Where’s that gone?
How not to run a business - a true story!
When a business gets into trading difficulties it’s so important for the directors to understand the financial position of the company – and not just because of dividends....
Recent figures show that the number of the self-employed has soared to an all time high.
I was recently invited into a board meeting by the company accountant, Alan, to take instructions for a Pre-Pack Administration.
If there is one thing about corporate insolvency that every professional advisor needs, it is to have a rough understanding of section 216 of the Insolvency Act 1986.
LLP's and Insolvency? Isn't it just like a limited company?
Failure to prepare? Prepare to fail! – Part 2!!
Take advice from us without delay. We are a firm of regulated Insolvency Practitioners who will give you clear, no nonsense advice about the financial position of your company. Call Tim Corfield or Richard Owen to advise you now. We will see you later today, or over the next few days, if necessary. We will agree with you how you are to proceed....
Yes. If your company is insolvent you need to take advice from an Insolvency Practitioner to fully evaluate the financial position of the company and consider the options available. The options available would include a Pre-Pack Administration or Administration or Creditors’ Voluntary Liquidation....
How quickly can a creditors’ voluntary liquidation process start?
The process can be started immediately. The directors need to sign a resolution to appoint an Insolvency Practitioner to prepare a statement of affairs and to call a creditors meeting. In practice, there may be certain things that delay the commencement of the process....
We come across many struggling or failed businesses and talk to many business owners. So we think we are well placed to give a few tips on this subject.
Failure to prepare? Prepare to fail!
How Can a Creditor Challenge Be Included in an IVA?
Two Clubs Too Many!
Acute Cashflow Problem Companies On The Increase!
A Liquidator has to be qualified as an Insolvency Practitioner.
The following frequently asked questions deal with the most important issues about Creditors Voluntary Liquidation.
A CVA is an insolvency procedure that can be used by a company to deal with financial difficulties. This article explains in more detail as to how a CVA could assist.
What is a personal IVA and how can it help you?
What is a Partnership Voluntary Arrangement? How can it help you?
Company Voluntary Arrangements – could we make more use of them?
Individual Voluntary Arrangements or IVAs are an alternative solution to bankruptcy.
What is a Company Voluntary Arrangement? How can it help you?
What is an Administration? How can this help you?
What is a Pre-pack Administration? How can this help you?
What is a Creditors Voluntary Liquidation? How can this help you?
What is a Members Voluntary Liquidation? How can this process help you?
Double, triple or just the single? (We talk recession)
Going the extra mile!
Who wants to be self-employed?
HMRC Gets Tough! Companies Beware – Winding up petitions increase!
Access to Bank Accounts Made Easier for Bankrupts