Directors should seek advice from professionals such as ourselves as soon as they become concerned about the solvency of the business. It is very important that directors understand their duties and the consequences of breaching those duties. The sooner you make contact, the sooner we can advise on the most appropriate course of action. There are many options available to the directors of an insolvent company. Examples include: • Informal payment arrangement with creditors • Time to pay arrangement with HMRC • Company Voluntary Arrangements (CVA) • Refinancing • New investment • Administration • Liquidation