Company Insolvencies The insolvency statistics released for April 2024 show that of the 2177 registered company insolvencies: Company insolvencies in April 2024 consisted of 300 compulsory liquidations 1,715 creditors’ voluntary...
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The insolvency statistics released for March 2024 show that of the 1785 registered company insolvencies: 1,436 were CVLs which is 29% lower than in March 2023 228 were compulsory liquidations which is 25% lower than March 2023 There...
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The Insolvency Service has taken robust action against company directors who misused COVID-19 financial support schemes, banning 831 directors in the 2023-24 financial year. This represents an increase of over 80% from the previous year. The...
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An Individual Voluntary Arrangement (IVA) provides individuals with protection from legal action while trying to settle debts. It is a good option for those wanting to repay debts, or an agreed percentage thereof, over a set period of time and avoid...
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One way to deal with personal debts is to apply for a Debt Relief Order (DRO) which are not particularly well-known but can offer a helpful solution for those with relatively low levels of debt and few personally-owned assets. As always, seek...
Read more...Of the 2,102 registered company insolvencies in February 2024: There were 1,707 CVLs which is 12% higher than in February 2023 217 were compulsory liquidations which is 35% higher than in February 2023 There were 166...
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If you or your client’s business is facing financial distress it can be a stressful and worrying time for all involved. It can also be daunting to be presented with an overload of information and options on what to do next. Perhaps a formal...
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A restructuring plan is a recently introduced court-supervised process that allows financially distressed companies to restructure their liabilities and reach a binding compromise with their creditors and/or shareholders. It must have approval from...
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A former director has been banned from being a company director for 14 years after the Insolvency Service found he had taken £57 million from investors in an unlawful care home investment scheme. Robin Forster was a director at Qualia Care...
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Isobel Brett provides comment for Financial Accountant on bounce back loans
Posted By: Bretts Business Recovery Ltd on 19th March 2024
Isobel Brett was featured in a recent article in Financial Accountant looking at the worrying number of bounce back loans issued to struggling SMEs by the Government, which may never be re-paid or were potentially mis-used. The article considers...
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