The insolvency statistics released for October show that of the 1,866 registered company insolvencies: There were 250 compulsory liquidations 1,461 creditors’ voluntary liquidations (CVLs) 136 administrations 18 company voluntary...
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A company director who misused business funds to clear the finance on a high-value Audi and sold plant machinery that was still subject to hire purchase agreements has been ordered to repay more than £190,000. If he fails to do so within three...
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HMRC has become increasingly assertive in its approach to recovering unpaid tax, and one area where we are seeing more activity is the use of Personal Liability Notices (PLNs). These notices allow HMRC to transfer certain company tax debts to...
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The insolvency statistics released for October show that of the 2,029 registered company insolvencies: There were 301 compulsory liquidations 1,592 creditors’ voluntary liquidations (CVLs) 119 administrations 17 company voluntary...
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A solar energy business that misled older homeowners with promises of non-existent government rebates has been shut down by order of the High Court, following an Insolvency Service investigation. Its connected company had already entered voluntary...
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When a business begins to struggle, directors often find themselves under intense pressure. Cashflow tightens, creditor contact increases and difficult decisions mount. It is during this period that directors’ legal duties change and the...
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A company director has received a suspended prison sentence after fraudulently securing two government-backed Covid Bounce Back Loans worth £100,000 and spending significant sums on gambling, cryptocurrency investments and personal...
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When a business becomes involved in litigation, the question of what happens to its debts can become even more complex. Even after a dispute has been resolved or a judgment given, the position of creditors and the obligations of directors are not...
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The insolvency statistics released for September show that of the 2,000 registered company insolvencies: There were 281 compulsory liquidations 1,578 creditors’ voluntary liquidations (CVLs) 124 administrations 17 company voluntary...
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The insolvency statistics released for August show that of the 2,048 registered company insolvencies: There were 311 compulsory liquidations 1600 creditors’ voluntary liquidations (CVLs) 121 administrations 16 company voluntary...
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