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.

Call our friendly experts on 0300 303 8284

By quickly taking back control we can help you solve the problems that the business has.

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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.
 

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 enquiries@theinsolvencyexperts.co.uk or call us on 0300 303 8284.

How we’ve helped others through
rescuing their business

At the Insolvency Experts our sole aim is to rescue, recover and renew businesses that are in difficulty. We are specialists in corporate turnaround and help business overcome cash flow difficulties and other financial problems. Our experts:

  • Help you to take the appropriate steps to meet any impending deadlines
  • Have a long track record in helping companies in similar positions
  • Can help you take the best course of action, often using your assets to help you avoid additional cost

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We helped a struggling Birmingham restaurant from going into administation:

  • Turnover £890K
  • Total Creditors £94K
  • Assets £340K
  • HMRC Overdue £20K
  • Profit Now +£15K

We helped a marketing agency from going into administation:

  • Turnover £700K
  • Total Creditors £120K
  • Assets £20K
  • HMRC Overdue £30K
  • Profit Now +£80K

Creditors’ Guide To Fees

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Why Choose Us?

We understand you have already made every effort to avoid insolvency and day to day life is stressful at the moment. We can start immediately and quickly work with you through the process.

We see many examples of great businesses that have fallen on hard times or suffered through no fault of their own.

We understand that the company directors and shareholders have already tried valiantly to carry on trading, but circumstances dictate that this is no longer possible.

  • We Remove Stress
  • We Act Quickly
  • We Are Cost Effective
  • We Are Formally Accredited
  • We Are CVL Experts
  • We Act Confidentially

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