My business looks as if it’s heading towards insolvency – can I take money or assets out of it before it becomes insolvent?

Frequently Asked Questions

As the director of a company which may be close to being or actually is insolvent, you must be mindful of your duties and careful as to the actions you take, as some can have negative consequences, for example:

transferring/selling assets at undervalue paying certain creditors ahead of others taking dividends Incurring credit

Should you have any reason to believe that your transactions may be scrutinised, it is best to speak with professionals such as ourselves at the earliest possible point to enable us to provide the appropriate advice.