Administration, Receivership, CVA, Liquidation and Bankruptcy

We can explain the different procedures which may be available to a business in financial distress, and give practical guidance on preparing for a formal insolvency process.

Formal processes will always require the involvement of a licensed Insolvency Practitioner.  We work closely with a number of Insolvency Practitioners so we will help you to identify the right individual or firm for your particular circumstances.  We will then work with your preferred practitioner to implement the agreed process.

Not all the procedures will be available so we will advise which is likely to achieve the best outcome for the business and its stakeholders.

Pre-pack administrations, where negotiations for the sale of a business are carried out before the appointment of the administrators and then concluded shortly after the appointment, have been a regular and sometimes controversial method to rescue  part or the whole of a business.  We can take you through the steps required to achieve a pre-pack sale.

Company voluntary arrangements are a process which enables the incumbent management to continue whilst being lightly supervised by an Insolvency Practitioner. Once set up and, approved by the company’s creditors, it will protect the company from aggressive creditor action whilst the financial contributions proposed in the arrangement are maintained.

Our Team

More Knowledge
Coronavirus Update - CJRS Bonus - Are you eligible?

Back in the summer the Chancellor announced that employers could receive a one-off payment of £1,000 for every employee who had previously been furloughed under the Coronavirus Job Retention Scheme  provided they remained continuously employed to the end of January 2021.  Businesses will be able to claim the Job Retention Bonus from 15 February 2021 and the Government has stated that further guidance will be provided by the end of January 2021.

Family Investment Companies

What is a family investment company (FIC)?

FICs are companies limited by shares (an “Ltd” or “Limited”) often setup by parents or grandparents (“Founders”) to benefit both themselves and their family as shareholders. Their popularity has increased in recent years, being seen as a corporate alternative to the more common discretionary trust.

Coronavirus Update - Jobs Support Scheme announced

With new government guidance on Covid coming into force today and the current furlough scheme coming to an end next month, as expected, the Chancellor has today announced a new scheme to help businesses.  

GDPR Compliance Review - Are you ready?

With less than two months to go until the new General Data Protection Regulation (GDPR) comes into force, are you and your business ready for the new requirements?

Timing for Filing the Notice of Conversion from Administration to CVL

Author: Chris Millar

Progress reports are now dealt with in Part 18 of the IR 2016.

How do I calculate 5 business days under IR 2006, for the purpose of appointing an administrator?

Where the directors/company give notice to appoint an administrator, the notice must include a Statutory Declaration. That Statutory Declaration must be made not more than 5 business days before the notice of appointment is filed with the Court.


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