There is a mistaken belief that insolvency and bankruptcy mean the same thing. However, whilst the terms do have similarities, there are several distinct differences between the two. First and foremost, insolvency is the financial state of a company or an individual, whereas bankruptcy is the legal procedure when an individual has been declared insolvent. …
Is There a Difference Between Insolvency and Bankruptcy? Read More »
Businesses in the UK are battling the onset of the Omicron coronavirus variant which threatens recovery across the UK, due to the re-introduction of restrictions, and may be a cross too much to bear for many. Insolvency has been knocking on the door throughout the past couple of years but closing the business doesn’t always …
How to Overcome Financial Loss Issues with a Reliable Insolvency Company Read More »
If you have debts, chances are you are now being chased by your creditors for payment. If you are considered insolvent and unable to pay your debts, it may well be worth considering an Individual Voluntary Arrangement (IVA). Of course, if you own any assets of significant value, you may be able to sell those …
Individual Voluntary Arrangements – Selling Assets to Pay Off or Clear Debts Read More »
A licensed insolvency practitioner, or IP, is a legal professional that is qualified and registered to act on behalf of a company, partnership or individual that is insolvent, or for a solvent company or partnership that wants to cease trading and close down. They act on behalf of a company or an individual in an insolvency …
Why Should You Seek the Services of an Insolvency Practitioner? Read More »
In the UK, a licensed insolvency practitioner, or IP, is a legal professional qualified to act on behalf of a company, partnership or individual that is insolvent, or for a solvent company or partnership that is closing down. In most cases, the IP has a background in law, accountancy or as a solicitor. They must …
What is a Licensed Insolvency Practitioner in the UK? Read More »
For any company struggling with debt or facing insolvency, bankruptcy or administration, the first port of call is a licensed insolvency practitioner, or IP. Despite the title, an IP isn’t there to handle company insolvency liquidations, such as Creditors Voluntary Liquidation (CVL), Company Voluntary Arrangements (CVA) or Compulsory Liquidation. They are also there to help …
What is a Licensed Insolvency Practitioner and What are Their Duties? Read More »
Many company directors in the UK have never faced the prospect of being unable to pay their creditors, nor having to deal with insolvency. But 2020 has been a year of firsts for many businesses across the UK. For directors, it’s tough enough to admit there is a problem and to seek advice. It’s even …
In the UK, winding up a company, any liquidation process and some debt management or business rescue arrangements must be handled by a licensed insolvency practitioner, or IP. An IP is authorised, according to the provisions of the Insolvency Act 1986, to handle individual and company solvency and insolvency matters. Who can act as an …
If your company is struggling financially and you’re not sure which direction to go, contact us to discuss your situation confidentially with one of our licensed insolvency practitioners.
If your company is struggling for any reason, or it has lost its way and guidance is needed to get back on a forward-thinking footing, our team of professional insolvency practitioners are here to guide you.
Simple Liquidation
