What is an Insolvency Practitioner?
If your business is in acute financial distress, your first port of call should be a licensed insolvency practitioner Insolvency practitioners are licensed and authorised to provide advice and act ...
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What is a Winding Up Petition and How Does the Process Work?
There is only so long you can delay creditors If you’ve been unable to pay your debts, then the best option is to come to an arrangement with your creditors If this fails, then your creditors hav...
Read MoreWhat is Liquidation?
To many, liquidation is a scary word It brings back memories of forgotten, much-loved companies who met their untimely demise That being said, it's important to remember that liquidation is ofte...
Read MoreWhat Is the Difference between Administration and Receivership?
For some of the world’s biggest airlines and holiday providers, everything has been a bit ‘up in the air’ recently that is, everything but the planes themselves XL Airways France, Thomas C...
Read MoreWhat is Pre-Pack Administration?
After well over a century in business, the iconic British department store, House of Fraser, was facing severe financial difficulties and the road to liquidation was closing in on them The end of an e...
Read MoreWhat is Administration?
For years now, customers have flocked online, leaving the high streets barren In their masses, clothing retailers have dissolved or moved to the digital space in a bid to recoup their losses Pretty...
Read MoreWhat Fiduciary Duties do Directors have in the UK?
In 1993, a vicious fire ripped through the premises of D'Jan of London Ltd, destroying approximately £174,000 worth of stock (Roughly £350,000 in 2019) While the fire was devastating, the company’...
Read MoreI've Received an APN — What Should I Do?
In September 2014, Raymond (not his real name) received an accelerated payment notice (APN) from HMRC “We wrote to you on 2nd September, to tell you that we were going to send you a partner payment ...
Read MoreHow Do You Close a Company in Scotland?
Some time in 578 AD, Prince Shōtoku invited Korean craftsmen to Japan to help build a new Buddhist temple One of the craftsmen decided to start his own construction business in Japan, which he called...
Read MoreWhat is the Difference Between Balance Sheet Insolvency and Cashflow Insolvency?
In 2016, Ben Kay (not his real name) founded a small construction company, specialising in high-end residential home additions Kay had a strong trade background but wasn’t overly experienced in runn...
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Barry John Stewart and George Dylan Lafferty are authorised to act as