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The latest insights and trending topics from Begbies Traynor Group
What happens if I cannot afford to liquidate my insolvent company?
Insolvency fees can seem prohibitive when your company is facing liquidation.
What is a Phoenix Company and the rules around this process?
A phoenix company describes a business that has been purchased out of administration or liquidation, often by the existing directors.
Advantages and Disadvantages of a CVA
Learn more about Company Voluntary Arrangement procedures including the advantages and disadvantages of this corporate recovery solution.
Can I liquidate one company which is part of a group?
If you own and run several companies which make up part of a group, there may come a time when you want to close one or more of these while continuing to trade with the others. There are a variety of reasons behind this but it is often the case of wanting to close down an unprofitable arm of the company.
What happens to directors of an insolvent company?
Directors of an insolvent company are protected from being held personally liable for company debts (limited liability), except in the event of misconduct.
Can a Winding Up Order be reversed?
What is a winding up order and can it be reversed once issued? A winding up order can be used by creditors to enforce payment of a debt by a company.
The Difference between Secured and Unsecured Creditors
A defined hierarchy of creditors exists when a company enters insolvency, with secured creditors being at the top.
Limited Company Cannot Afford To Pay Outstanding Creditors
If you cannot afford to pay creditors, seek a company restructuring solution or voluntary liquidation procedure to protect creditor interests
Understanding transactions at undervalue
A transaction at undervalue is when business assets are sold lower than their true value or for a loss.
What happens when a charity is insolvent?
A charity - just like any other company - has the potential to become insolvent. This occurs when it is unable to meet its outgoings as and when they fall due, or when liabilities outweigh its assets
What are the warning signs of company insolvency?
Insolvency is when a business is unable to meet financial obligations and repay debts. The cash flow and balance sheet tests can check for insolvency.
Selling Company Assets – What Do Company Directors Need To Be Aware Of ?
If you wish to sell any of the assets of your limited company then there are a number of factors to take into consideration, especially regarding how these are treated for tax purposes and the differing treatments of both tangible and intangible business assets.
What is a ‘shadow director’? Are they liable in an insolvency procedure?
Understanding the role, liabilities and implications of a shadow (sometimes called silent) director, particularly in a company insolvency procedure.
Dissolving a company: eligibility, process, and objections
There are many reasons why you might want to dissolve your limited company. Perhaps you experienced early success, but the market has now shifted, or maybe your business is still successful but you are approaching retirement and there is no one available to take over from you.
