In a Liquidation procedure, what order does the Insolvency Practitioner (IP) pay the creditors?
An insolvent liquidation procedure involves the sale of assets, and distribution of the proceeds amongst company creditors. An IP is appointed to
I need an Insolvency Practitioner (IP) to close my company but I am concerned that I am unable to afford the fees
If your company has entered insolvency and there is no possibility of returning to profitability, you will need to repay your creditors
Could administration prevent my company going into liquidation?
If your company is in financial distress, there is a good possibility that it may be wound up by creditors. However, there
How does a Compulsory Liquidation compare to a Voluntary Liquidation?
Both Compulsory and Voluntary Liquidation are serious processes that result in a company being wound up and dissolved. One process is decided
The death of the creditor meeting
Historically, when a company entered into creditors’ voluntary liquidation (CVL), there was a requirement (under Section 98 of the Insolvency Act 1986)
Statutory Demand: What is it and how does it work?
In brief, a statutory demand is a requirement made by a creditor for payment of an overdue debt against either a company
What is a ‘CVA’?
A ‘CVA’ is a Company Voluntary Arrangement with creditors, which allows the business to pay its debts off over a fixed period