Business Insolvency

There are three main types of liquidation: compulsory liquidation, Creditors’ Voluntary Liquidation and Members’ Voluntary Liquidation. Although each option leads to the same outcome, ending with a company being liquidated and dissolved, they are all very different processes. Your situation and circumstances will determine which type of liquidation will be the right one for you.…

Since March 2020 thousands of businesses in the UK have been impacted by the COVID-19 pandemic and subsequent lockdown and social distancing restrictions. Some of these companies will now find themselves to be insolvent. This means they can no longer cover their daily costs or debts. For some of these companies, business rescue is not…

There are several ways a company can be liquidated. From compulsory liquidation, which is forced onto a company, to voluntary liquidation which includes Creditors’ Voluntary Liquidation and Members’ Voluntary Liquidation. Although each of these options ends with the company being liquidated and dissolved, they are very different processes with their own advantages and drawbacks. In…

A company director should seek insolvency advice at the first sign the business is struggling financially. If you are quick to act more options will remain open to you, whether that is voluntary   liquidation, a Company Voluntary Arrangement, company restructure or the sale of the business as a going concern. If you don’t act, however,…

When it comes to dissolution vs liquidation there can understandably be a degree of confusion. After all, both terms indicate the closing down of a company, however there is a key distinction between the two terms which means they shouldn’t be used to mean the same thing. To help you understand the difference between dissolution…