Blogs

How Much Do Insolvency Practitioners Charge? Understanding the Costs

Dealing with serious debt can be overwhelming, particularly when navigating the complexities of English insolvency law. Understanding the fee structures of licensed insolvency practitioners becomes essential when individuals or businesses find themselves facing financial distress under the comprehensive framework established by the Insolvency Act 1986. These qualified professionals, licensed by recognised professional bodies including the […]

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How Do You Wind Up a Solvent Company Without Risk to the Company?

Closing a company that can pay all its debts is often called winding up a solvent company under UK law. This procedure, formally known as a Members' Voluntary Liquidation (MVL), may occur when directors wish to retire, simplify their operations, or extract company assets in a tax-efficient manner under the Insolvency Act 1986. A solvent […]

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What Is the Difference Between Winding Up and Dissolution in a Company?

The winding up process under English law involves systematic liquidation of assets and settlement of debts according to statutory hierarchy The distinction between winding up and dissolution in a company lies in their functions and outcomes under English law. Winding up is the legal process involving the liquidation of assets and settling debts under the […]

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Key Differences Between Insolvency Advisors and Accountants in Liquidation

In liquidation proceedings, insolvency advisors and accountants fulfil distinct yet complementary roles within the framework of UK insolvency law. Insolvency advisors require specific licensing under the Insolvency Act 1986 and focus on strategic insolvency solutions, legal compliance, and creditor communication. Conversely, accountants manage general financial duties such as asset evaluation without the legal authority to […]

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Does Liquidation Affect Credit Rating, and How Does It Impact Your Company?

Liquidation considerably impacts a company's credit rating by formally recognising financial distress, which leads to a noticeable decline in credit scores. It affects stakeholders negatively, altering perceptions due to public acknowledgement of insolvency. Companies may struggle with securing future financing. Personal finances can be at risk if directors provided personal guarantees. Despite limited liability, responsibilities […]

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What Happens After Liquidation, and What Does a Liquidator Do to the Company?

Liquidation occurs when a company cannot pay its debts or when directors decide to cease operations due to financial difficulties. The process involves selling assets, settling creditor claims, and formally ending business operations under the supervision of a licensed insolvency practitioner. This can be challenging for directors, employees, and shareholders, yet it provides a structured […]

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What Happens to a Director of a Company in Liquidation Explained

Liquidation occurs when a company becomes insolvent and cannot meet its financial obligations under UK law. The business ceases trading, and a licensed insolvency practitioner is appointed to realise assets and distribute proceeds to creditors. Directors face significant concerns regarding personal liability, future career prospects, and potential disqualification under the Company Directors Disqualification Act 1986. […]

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What Is a Debt Moratorium, Debt Relief Order, and How It Brings Relief

A debt moratorium is a pause that can stop strong creditor pressure under English law, giving people or companies the time to work out their budgets without the looming threat of legal actions. This relief can be helpful for those who need temporary debt relief. People often ask: what is debt moratorium, and how does […]

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Understanding the Key Differences Between Restructuring and Insolvency

Corporate restructuring and insolvency are distinct processes addressing financial challenges under English law whilst ensuring compliance with professional regulatory bodies. Restructuring is proactive, aiming to reorganise a company to enhance efficiency and avoid insolvency under the Insolvency Act 1986 whilst ensuring compliance with the regulatory framework. Insolvency signifies a state where a company cannot meet […]

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Understanding the Types of UK Business Restructuring

Business restructuring is a strategic process to enhance efficiency and adaptability in dynamic markets. Key types include corporate restructuring, legal restructuring, mergers and acquisitions (M&A), spin-offs, and Company Voluntary Arrangements. Corporate restructuring optimises organisational structures, whilst financial restructuring manages liabilities. M&A offers market access and operational efficiencies. Spin-offs sharpen the focus on core operations. Each […]

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