Unfortunately, with the challenging trading conditions in which a large number of companies are experiencing, the use of procedures such as company voluntary arrangements is likely to become increasingly common. This is not good news for creditors who will find themselves with unpaid accounts. Where a company is struggling to pay its debt, it may [...]
Limousine hire has been a long custom notably within the British Isles. The earliest limousine was built in 1902. Its design and style was designed to have the chauffeur seated separate from the main body of the car within a forward partitioned off compartment. This design and style has become much better through the years. [...]
The IVA is an extremely powerful tool enabling you to clear your debt and return to a clean financial bill of health. This procedure is not to be confused with the informal procedures being dished out by some sale organisations who advertise on television or in the daily tabloids. You see IVAS have a number of disadvantages which anyone contemplating [...]
Once a company has been liquidated either through a Creditors Voluntary Liquidation or winding up, the liquidator will produce a report on the conduct of all of the directors in the period running up to when the business stopped trading. If the liquidator believes that the directors did not act properly during this period, then [...]
When a limited company is facing financial difficulty, two of the rescue options which are often considered are a company voluntary arrangement (CVA) and a pre-pack administration. One of the downsides of pre-pack administration is the upfront cost, whereas a company voluntary arrangement can be implemented with little or no investment cash. If your company [...]
The theory behind company administration is that it allows a business time to make a strategic review and implement often major changes to put it back onto a sound footing. However Customers and suppliers must be told of the company’s position and this will start to cause them to consider other options making the object [...]
A Winding Up Petition could have serious consequences for you and your business. It is therefore very important to understand what a Winding up Petition is and the implications of receiving one. A Winding Up Petition could have serious consequences for you and your business. It is therefore very important to understand what a Winding [...]
Depending on your status your ability to run your business may be severely impacted by declaring bankruptcy. We look at the impact and also at alternatives to solve personal financial difficulty and keep running your business. Bankruptcy is not an option for many business people as this solution will prevent them from continuing to manage [...]
In the current market many businesses are finding that they have been issued with a County Court Judgment commonly known as a CCJ. The purpose of this article is to explain what a County Court Judgment is, why they are issued and what the ramifications of receiving a County Court Judgment are. Since the autumn [...]
I frequently come across examples of small business owners or directors who use personal borrowing to supplement their business cash flow. Unfortunately due to the effects of the credit crunch, personal credit is now becoming much harder to obtain. This article looks at what can be done about this I frequently come across examples of [...]
