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What happens to a director of a company in liquidation?
What happens to a director of a company in liquidation? When a company reaches the point that it is unable to repay its debts, it will often enter into liquidation. While this is a challenging time for any business,...
Read moreWhat is a CVA?
What is a CVA? If your business is struggling with debt, it can be hard to see a way out. Bills may be piling up, as creditors chase payments and cash flow gets tighter and tighter each week. It can...
Read moreHow long does an IVA last?
How long does an IVA last? If you’re struggling with your personal finances, you may be interested in an Individual Voluntary Arrangement, or IVA for short. An IVA is a formal agreement that lets you pay back what you can...
Read moreCan liquidation be reversed?
Can liquidation be reversed? Liquidation is often a step taken by directors of businesses that are experiencing financial difficulty, once all other options of recovery have been explored. It marks the formal end of a company, with its assets...
Read moreIs insolvency the same as bankruptcy?
Is insolvency the same as bankruptcy? If you’re facing financial difficulties, you’ve probably become familiar with two terms: insolvency and bankruptcy. While these terms are closely linked, it’s important to know they have very different meanings and outcomes. Each...
Read moreCan I claim insolvency on my taxes?
Can I claim insolvency on my taxes? If you or your business is facing insolvency, it can be a stressful and confusing time. Between managing debts, speaking with creditors, and dealing with the emotional toll, it’s easy to feel...
Read moreInsolvency Service reveals £57 million returned to the economy (and what to expect for the months ahead)
Insolvency Service reveals £57 million returned to the economy (and what to expect for the months ahead) The Insolvency Service has released its latest annual report, revealing that more than £57 million was returned to the UK economy in...
Read moreInsolvency: Who gets paid first?
Insolvency: Who gets paid first? When a company becomes insolvent, and is placed into an insolvency process, steps are taken to sell assets to repay the debts. However, these debts are settled in a particular order which is specifically...
Read moreHow will insolvency affect me?
How will insolvency affect me? When a company becomes insolvent, and is placed into an insolvency process, steps are taken to sell assets to repay the debts. However, these debts are settled in a particular order which is specifically...
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