What is a Directors Insolvency?

June 28, 2009 by  | Leave a Comment Filed under: Management 

The matter of directors’ insolvency can emerge if, upon entering an insolvency procedure, it is discovered that one or more of the directors have given personal guarantees in relation to debt which has been raised by the company. The Insolvency Act 1986 was created partially with an eye for (read on...)



What is Wrongful Trading?

June 28, 2009 by  | Leave a Comment Filed under: Management 

Being a Director of a limited company in today’s economic climate can be a tricky business. Trading conditions now are as hard as they have ever been, and restrictions on availability of credit combined with lengthening delays in payment are putting cash positions under strain. As a (read on...)

What Does a Director’s Turnaround Involve?

June 28, 2009 by  | Leave a Comment Filed under: Management 

A Directors’ Turnaround describes a series of procedures which will be put in place by the directors of a struggling company which will obviate the necessity of that company to enter into liquidation or administration. The procedures involved in a director’s turnaround are quite (read on...)

How Do I Close My Partnership?

June 28, 2009 by  | Leave a Comment Filed under: Management 

Partnerships are widespread throughout the U.K. economy. They suffer from the same economic hardships as individual sole traders and limited companies. The insolvency provisions that apply to companies also apply to partnerships to a large extent. If you’re reading this then you may have (read on...)

What is a Creditors’ Voluntary Liquidation?

May 5, 2009 by  | Leave a Comment Filed under: Management 

A creditors’ voluntary liquidation is the most popular mechanism for closing down a company which is insolvent. With companies struggling to maintain profitability, and as a result not being able to pay their debts as and when they fall due, this is leading to many company directors (read on...)

What is Corporate Rescue?

April 28, 2009 by  | Leave a Comment Filed under: Management 

If you have a business that is insolvent, but which has an element to it that has value, that portion can be saved. It may be that only a small part of the business is viable: that portion can still be saved and the unprofitable or decayed parts of the business either sold or written off. Any (read on...)