Insolvency poses a significant challenge for businesses, occurring when a company cannot meet its financial requirements, resulting in liabilities exceeding its assets or not meeting payments when they fall due. This situation can lead to various...
Read more...
An Individual Voluntary Arrangement (IVA) provides individuals with protection from legal action while trying to settle debts. It is a good option for those wanting to repay debts, or an agreed percentage thereof, over a set period of time and avoid...
Read more...
One way to deal with personal debts is to apply for a Debt Relief Order (DRO) which are not particularly well-known but can offer a helpful solution for those with relatively low levels of debt and few personally-owned assets. As always, seek...
Read more...
If you or your client’s business is facing financial distress it can be a stressful and worrying time for all involved. It can also be daunting to be presented with an overload of information and options on what to do next. Perhaps a formal...
Read more...
A restructuring plan is a recently introduced court-supervised process that allows financially distressed companies to restructure their liabilities and reach a binding compromise with their creditors and/or shareholders. It must have approval from...
Read more...
The Debt Respite Scheme is the official name for Breathing Space, a government programme that grants those individuals in debt a break from the stress of missed payments and a chance to catch up financially. If you’re struggling to pay off your...
Read more...
A construction company, Pazhar Zvezdy Ltd, was wound-up in the public interest in the High Court earlier this year. The company traded as a residential and commercial construction company, but, following complaints,...
Read more...
We have come across a growing trend of subcontractors who are facing financial difficulty, and in some cases becoming insolvent, because of unexpected and at times unwarranted or invalid Pay Less Notices (PLNs) issued by main contractors....
Read more...
As R3 launch their Directors’ guide to getting #Backtobusiness, we’ve also been thinking about the importance of reviewing your business and knowing when to seek professional advice. Having worked with financially distressed businesses for...
Read more...
BACKGROUND: An established chain of beauty salons sought our advice after a culmination of specific and extraordinary trading issues resulted in severe cash flow problems. The Company assets were secured against a long-term loan and a bank...
Read more...