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FAQs

Our FAQs Business rescue and insolvency can take many forms for businesses - whether its liquidation, administration, winding up petitions or advice for negotiating with creditors - we can help. As li...

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FAQs for directors: Personal Insolvency

FAQs for directors Personal insolvency What is bankruptcy?Bankruptcy means your financial affairs will be handled by a Trustee in Bankruptcy.  The objective of the trustee is to sell your assets....

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FAQs for directors: Creditors' voluntary liquidation (CVL)

FAQs for directors Creditors' Voluntary Liquidation ("CVL") When should I put my company into creditors' voluntary liquidation?When it is insolvent and reached the end of the road but always take advi...

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FAQS for directors: Members' voluntary liquidations ("MVL")

FAQs for directors Members' Voluntary Liquidations ("MVL") What is a members' voluntary liquidation?It is an insolvency process for solvent companies to wind up their affairs and distribute funds tax....

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FAQs for directors: Administrations

FAQs for directors Administrations What is administration?Administration is a legal process that protects your limited company or partnership by order of the Court.  Once the process has started....

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FAQs for directors: Corporate insolvency

FAQs for DirectorsCorporate Insolvency What is insolvency?Insolvency is where you or your business cannot afford to pay your debts either in full or on time.  You've probably heard the term used....

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FAQs for directors : Company Voluntary Arrangements ("CVA")

FAQs for directors Company Voluntary Arrangements ("CVA") When should I put my company into CVA?When it is insolvent but the business is viable (once restructured) and you are able to pay creditors mo...

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FAQs for directors: What is a pre-pack?

FAQs for directors AdministrationsWhat is a pre-pack?It is a type of administration where a sale of the business and assets is lined up before the appointment and completed by the administrator immedi...

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FAQs: General Queries

FAQs for Directors General Queries 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....

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FAQs for Directors: Pre-pack Administrations

FAQs for Directors Pre-pack Administrations What are the advantages and disadvantages of a Pre-pack AdministrationA pre-pack administration is a very effective and quick way of saving a business. ...

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FAQs for directors: Directors' responsibilities

FAQs for Directors Directors' responsibilities What is directors disqualification?A liquidator or administrator has a statutory duty to report to the Insolvency Service on the conduct of every directo...

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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...

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Coronavirus Business Interruption Loan Scheme (CBILS) - FAQs

What is CBILS? CBILS is a government backed loan scheme to provide financial support to small and medium businesses (SMEs) across the UK that are experiencing financial dif...

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Top 10 FAQs for directors: Members' Voluntary Liquidations ("MVL")

When should I put my company into an MVL?  When it is solvent and can pay all its creditors within 12 months.What is an MVL?  It...

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Top 10 FAQs for directors: Administrations

When should I put my company in administration?  When it is insolvent and there is a benefit in taking advantage of the statutory moratorium.  For example if th...

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Top 10 FAQs for directors: Company Voluntary Arrangements ("CVA")

When should I put my company into CVA? When it is insolvent but the business is viable (once restructured) and you are able to pay creditors more than they would get in a liq...

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Top 10 FAQs for directors : Creditors' Voluntary Liquidation ("CVL")

When should I put my company into CVL?   When it is insolvent and reached the end of the road but...

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Directors' responsibilities FAQs

What does insolvency mean?Insolvency in its simple sense means that a business is unable to pay its debts as and when they fall due. Two tests exist to show i...

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Insolvency guides

Guides to insolvency procedures Here we provide a general guide to insolvency which takes you through the waterfall of insolvency options from least to most severe and brief guides to the most common....

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