Last Updated: 20/05/2025
What is a debenture?
A debenture is a legal charge and gives the debenture holder (the lender) security over the borrower’s assets. Typically, a debenture is used by a bank, factoring company or invoice discounter to take security over a limited company.
Our club is insolvent what should we do?
If the club/society is unincorporated (not a limited company) then the members are usually personally liable for all the debts. If the club is run within a limited company then the debts will rest with the company and not the individual shareholders – unless they have had to guarantee a debt.
How to dissolve a partnership with financial problems?
If the business is a solvent partnership then it can be dissolved by agreement with the relevant parties in line with a partnership agreement. If the business is insolvent and cannot pay its debts in full or as they fall due then it will need to go into either liquidation, administration or a partnership voluntary arrangement (PVA). Â
What is a phoenix company?
A phoenix company describes a new company that has risen again from a previously failed company. Quite often the old company will have gone into liquidation and the directors will buy back the assets and start trading again in the same business. Â
How can we help - Book a free 1-2-1
If your company is struggling with unmanageable debts, decreased cashflow or concerns about about your company’s future, we can assess your situation and provide you with tailored solutions and options.
During your free initial advice meeting, we will discover a true picture of your company’s financial situation
and offer practical and expert guidance on your next steps.
Initial meetings can be held at our office or your premises and are completely confidential.
There is no charge for this meeting – charges only apply if and when terms of engagement have been agreed.
