Corporate insolvency FAQs
What types of insolvency do you deal with?
All types of formal insolvency procedures along with business rescue, turnaround and restructuring including:
- Creditors' voluntary liquidations
- Administrations (including pre-pack administrations)
- Company voluntary arrangements
- Members' voluntary liquidations
- Compulsory liquidations
- Administrative receiverships
- Fixed charge receiverships
- Court appointed receiverships
What type of companies do you usually deal with?
We mostly deal with owner managed and family businesses which make up the bulk of businesses across East Anglia and London and in all sectors.
Do you only handle insolvencies?
No, we welcome the change to advise clients in areas outside insolvency, including turnaround and restructuring. The earlier we can get involved the more chance there is of avoiding insolvency.
Is that why you have business angel and turnaround interim manager networks?
Yes. We have successfully turned around many businesses that would have otherwise been threatened with closure. Click on the links for more information on our turnaround business angel and interim management networks.
Will I be able to claim for wages owed to me by the company?
Yes and in order to help employees of insolvent companies the Insolvency Service runs a scheme to pay creditors unpaid wages, holidays not taken, pay in lieu of notice and redundancy up to a limit (currently £544) per week). The appointed insolvency practitioners will help you make these claims online.
What size of companies have you dealt with?
Companies with assets up to £5,000,000, turnover up to £40,000,000 - up to 200 staff and banking lending up to £2,000,000. But we usually deal with much smaller businesses with assets c.£250,000,turnover £500,000 and a dozen staff.