In a liquidation procedure in 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?
A Compulsory Liquidation is usually instigated by an unpaid creditor of an insolvent company who is owed more than £750. It is
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)
What is a Statutory Demand?
In brief, a statutory demand is a requirement made by a creditor for payment of an overdue debt against either a company or
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