Nationwide Insolvency Practitioners
  • Home Page
  • About Us
  • News
  • Contact Us

Call FREE Business Rescue Advice: 03003 038284

Request a consultation
  • Liquidation
    • Company Liquidation
    • What is Creditors’ Voluntary Liquidation (CVL)?
    • Members’ Voluntary Liquidation
    • Compulsory Liquidation
  • Administration
    • Company Administration
    • Pre-Pack Administration Process
  • CVA
    • Company Voluntary Arrangements (CVA’s)- The Ultimate Guide
  • HMRC Debt Management
    • HMRC Bailiffs
    • HMRC Arrears
    • HMRC Time-to-Pay Arrangements
    • HMRC Enforcement Notice
  • Winding Up Petitions
  • News
  • Get a Quote
    • Liquidation Quote
    • Administration Quote
    • CVA Quote

Expert Advice 03003 038284

  • Free Advice

Do you need Advice, or want to close your business?

    Your data is secure
    1. Home
    2. News
    3. My business looks as if it’s heading towards insolvency – can I take money or assets out of it before it becomes insolvent?

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

    Man on two phone calls with a phone in his hand 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.

    Categories

    • Bankruptcy
    • Business Rescue
    • COVID-19 Advice
    • Debt Advice
    • Frequently Asked Questions
    • Insolvency
    • Latest News
    • Liquidation
    • Uncategorised

    Accreditations

    Chat with us

    For free expert advice, send us a message and we’ll be in touch

    With a free consultation you will:

    • Find out how to manage creditors
    • Discover your options
    • We’ll figure out the best solution for you
    • Whether Liquidation is the best option

      Your data is secure

      It’s completely free and you have no obligation

      © The Insolvency Experts 2022

      The Insolvency Experts is the trading name of Cowgill Holloway LLP registered at Regency House, 45-53 Chorley New Road, Bolton BL1 4QR and registered in England and Wales with registered number OC316195 with offices in Bolton and Manchester.

      Follow us on our socials

      Legal

      • Privacy Policy
      • Site Map
      • Terms & Conditions

      Call us now

      03003 038284