Directors’ family home saved

February 1, 2015

We were approached for personal insolvency advice by the directors of a Company which had gone into Liquidation.  Not only had they lost their investment in and income from the business but they had signed significant personal guarantees for the business debt.

 

At the time of seeking our advice their family home was up for sale, an acceptable offer had been received and they were just about to sell.  They did not want to sell but believed they had no other option.

 

After a detailed review of their circumstances we advised Protected Trust Deeds were the best option for each of them.  The creditors accepted the Trust Deeds and the family home did not have to be sold after all.

Professional Indemnity Insurance – our professional indemnity insurer is Mapledown Royal & Sun Alliance plc , Mapledown Underwriting LLP, The St Botolph Building 138 Houndsditch London EC3A 7AG and policy number is RTT262119/11273. The territorial coverage is worldwide (excluding professional business carried out from an office in the United States of America or Canada) and excludes any action for a claim brought in any court in the United States of America or Canada.


GLASGOW LIVING WAGE EMPLOYERBarry John Stewart and George Dylan Lafferty are authorised to act as insolvency practioners in the UK by the Institute of Chartered Accountants of Scotland. Company Registration Number SC 477598 | VAT Registration Number 192 5146 03 | Data Protection Registration A1056203 | FCA Registration Number 766693 | Registered office: 2nd Floor Suite 148, Central Chambers, 11 Bothwell Street, Glasgow G2 6LY.