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What is Pre Pack Administration?
Pre pack administration is one of the legal processes used to close an insolvency company while preserving the value of a business. In other words, pre pack administration is used to help manage a struggling business and give it...
Read moreTrading when insolvent: The risks, law and legal implications
Trading when insolvent: The risks, law and legal implications If your company is suffering financial difficulty and can no longer repay its debts, or the amount you owe is greater than the value of your assets, your company is classed...
Read moreLiquidation: Who gets paid first?
Liquidation: Who gets paid first? Suppose your business has become insolvent and has either been through a successful administration or perhaps the administration process wasn’t deemed viable for your circumstances. In these cases, there is a good chance that your...
Read moreAdministration vs liquidation: Understanding the differences
When a business faces financial difficulties, there are two insolvency practices which are the most commonly used, and they are often confused. Administration and liquidation are both governed by the Insolvency Act but are very different processes, and each...
Read moreInsolvency and restructuring: Understanding the process
Insolvency and restructuring: Understanding the process If a business experiences financial difficulties, insolvency and restructuring can help with the recovery of the business. As a stressful time, it can be tempting to ignore the problem, but this will only lead...
Read moreA guide to the pre pack administration process
A guide to the pre pack administration process When a company faces financial distress and becomes insolvent, it's crucial to consider the various processes available to either revive the business or sell it to settle debts and dissolve the...
Read moreInsolvency vs bankruptcy: What’s the difference?
Insolvency vs bankruptcy: What's the difference? The terms insolvency and bankruptcy are often confused. The more commonly known phrase, bankruptcy, is frequently misused to describe financial situations that it does not accurately represent. Whereas insolvency is a phrase that...
Read moreThe Latest Corporate Insolvency Statistics by Industry
The Latest Corporate Insolvency Statistics by Industry Following on from my article published on the 11th of this month, in relation to the number of corporate insolvencies, which showed an approximate drop of 35% in the 6 months post-Covid compared...
Read moreThe benefits of Bounce Back Loans and the Implications of their miss-use upon Liquidation.
The benefits of Bounce Back Loans and the Implications of their miss-use upon Liquidation. It was reported last week that 1.26 million bounce back loans (“BBL”) had been granted in the UK since its introduction and therefore the sums loaned...
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