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Company Liquidation & Directors Responsibilities
If your business is insolvent (meaning that its liabilities are exceeding assets, or that you are unable to meet current and future financial commitments) then you have a range of particular responsibilities as a director. This is obviously a stressful and worrying time for many directors, as not only are there are a range of financial pressures and director duties in insolvency, but in certain cases, if you do not meet this regulation, you could also be:
- Accused of wrongful trading
- In worse cases, become personally liable
Because of this range of regulations, it is very important that if you believe your business is insolvent, you seek professional advice from an Insolvency Practitioner such as The Insolvency Experts to ensure that you meet all of your company liquidation director responsibilities. We are available by phone or email today via our Contact page.
The wealth of legal and financial qualification across our team ensures that we operate within all of the required legal guidelines while providing cost-effective and timely guidance. Our personable financial experts ensure you are given helpful and relatable advice that keeps you up-to-speed throughout the process. We offer peace of mind at a stressful moment through working to find a financial outcome that satisfies creditors, the government, shareholders and directors whenever possible.
We understand that many companies find themselves insolvent through no fault of the directors, so if circumstances have brought on financial difficulties, we help our clients to find a workable financial solution. If you want to discuss our available insolvency practitioners Bolton services, get in touch with us today. We act on behalf of our clients to find the best possible solution to their current financial difficulties.
Our expert financial staff are available to discuss options surrounding Liquidation, Administration and a range of other services we provide, with this advice offered through a free initial consultation. Additionally, if you are seeking an estimate on the price of a Liquidation process for your company, you can make use of our free quote calculator.
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2 Key Questions on company liquidation director responsibilities
What are the key director responsibilities in insolvency?
In terms of the various responsibilities for a company director to carry out during a time when a business is facing insolvency, the key considerations you should be aware of, each with their own page on our site, include:
- Directors’ Personal Guarantees
- Directors’ Loan Accounts
- Director Redundancy
- Trading Whilst Insolvent
- Shadow Directors
Once you’ve looked at as many or as few pages are relevant to your current business situation, we would be more than happy to talk over any further questions you have with regards to your director responsibilities.
Call our friendly experts on 0300 303 8284
By quickly taking back control we can help you solve the problems that the business has.
How do I find the right guidance on my director duties in insolvency?
In order to ensure that you meet all of your responsibilities as a company director at a time of financial difficulty, you will want to get expert guidance from a company experienced in navigating such a process. To receive more information on the responsibilities of directors during insolvency, or to get any other financial advice today from The Insolvency Experts, you can email us on firstname.lastname@example.org or call us on 0300 303 8284.
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