Posted By: marketing_consortium on 11th September 2020
Business insolvency processes - the key points, pros and cons listed in this handy one-page table Download here (pdf): Insolvency comparison - for businesses Or, for a more in-depth overview on each of these insolvency procedures, scroll...
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Posted By: marketing_consortium on 4th May 2020
Claims for financial support may be deemed fraudulent if the company was already in trouble when making claims and then later enters into an insolvency process. Insolvency practitioners (IPs) have been advised to remain alert to potentially...
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Posted By: marketing_consortium on 21st March 2019
Moore Stephens an accounting and advisory network has published a report quoting there has been a 10% rise in the number of businesses liquidated in 2018. With an increase from 13,010 cases in 2017 to 14,270 in 2018, there is a clear...
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Posted By: Bretts Business Recovery on 18th October 2016
An IT consultant from Basingstoke has been disqualified and barred from acting as a company director for 8 years after wrongful behaviour including paying himself £40k when the business was insolvent. Investigating the failure of management...
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Posted By: Bretts Business Recovery on 18th October 2016
During May to July earlier this year, The Insolvency Service held a consultation on the reform of the UK’s insolvency regime and has now published a summary of the responses. The Government sought opinion from a wide range of organisations and...
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Posted By: Bretts Business Recovery on 18th October 2016
The Financial Times has recently reported on the findings Euler Hermes, the world’s largest trade credit insurer, which insures companies against the risk that creditors will not be able to pay their debts. Ludovic Subran of Euler Hermes...
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Posted By: Bretts Business Recovery on 23rd September 2016
In conjunction with HM Treasury, the Insolvency Service has imposed a new fee structure for bankruptcies and compulsory liquidations which came into force on 21 July 2016. The objective behind the new fee structure is for the Insolvency Service to...
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Posted By: Bretts Business Recovery on 2nd February 2016
Ian Morton the director of a Widnes firm has been disqualified from acting as a director for eight years for failing to keep adequate accounting records to keep track of stock. A disqualification order such as this also prohibits the guilty party...
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Posted By: Bretts Business Recovery on 13th May 2015
Lack of clear objectives Successful organisations have clearly focused and communicated objectives that enable everyone in the organisation to pull in the same direction. Poor business planning Business planning should cover aspects such as...
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Posted By: Bretts Business Recovery on 25th March 2015
The short answer is “No”, but the long answer is “Yes, it is possible but care needs to be taken to follow the rules or you may face criminal proceedings and become personally liable for the new company’s liabilities”. S.216 of the...
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