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...
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Jacob Isaacs & Co Ltd, incorporated in August 1998 and classified as being in the wholesale trade was run by Isaac Jacobson, 51, from Salford until it was liquidated in July 2017. As part of the liquidation, the Insolvency Service...
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We’ve looked at how to spot signs of financial distress in your business, as well as your duties as a director. Now, let’s look at what the options are for your business. Restructuring plan With this option, time and speed are...
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Car dealer John Brian Capper from Shipley, West Yorkshire, has been sentenced to an 18-month community order, including 250 hours of unpaid work, after failing to provide books and records when his company was wound up due to alleged tax liabilities...
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Business insolvency processes - the key points, pros and cons listed in this handy one-page table Download here (pdf): Insolvency comparison - for businesses Or, for a more in-depth overview on each of these insolvency procedures, scroll...
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Claims for financial support may be deemed fraudulent if the company was already in trouble when making claims and then later enters into an insolvency process. Insolvency practitioners (IPs) have been advised to remain alert to potentially...
Read more...Moore Stephens an accounting and advisory network has published a report quoting there has been a 10% rise in the number of businesses liquidated in 2018. With an increase from 13,010 cases in 2017 to 14,270 in 2018, there is a clear...
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An IT consultant from Basingstoke has been disqualified and barred from acting as a company director for 8 years after wrongful behaviour including paying himself £40k when the business was insolvent. Investigating the failure of management...
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During May to July earlier this year, The Insolvency Service held a consultation on the reform of the UK’s insolvency regime and has now published a summary of the responses. The Government sought opinion from a wide range of organisations and...
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The Financial Times has recently reported on the findings Euler Hermes, the world’s largest trade credit insurer, which insures companies against the risk that creditors will not be able to pay their debts. Ludovic Subran of Euler Hermes...
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