by Paul Brindley | Jan 20, 2023 | Administration, Advice to Directors
Statement of Insolvency Practice (SIP) 13 and 16 are two codes of practice issued by the Insolvency Regulators in the United Kingdom to provide guidance on the conduct of pre-packaged sales (pre-packs) of companies in financial distress. SIP 13 sets out the principles...
by Paul Brindley | Jan 20, 2023 | Administration, Advice to Directors
A pre-pack is a process in which a company’s assets and operations are sold to a new owner shortly before or after the company enters into insolvency or bankruptcy. The main advantage of a pre-pack is that it allows a company to continue operating while shedding...
by Paul Brindley | Jan 20, 2023 | Administration, Advice to Directors
This is a list of the top ten things you simply must know about administration… Administration is a legal process that allows a company to continue trading while a plan is created to either rescue the company or sell its assets. The main goal of administration...
by Paul Brindley | Feb 28, 2021 | Administration, Advice to Directors, Alternatives to formal insolvency, Ethics & Regulation
Simply striking a company off can be a great route for directors to shut a limited company… in the right circumstances. A few months ago, Companies House temporarily stopped striking companies off, whether on an application by the directors or by Companies...
by Paul Brindley | Feb 22, 2021 | Administration, Advice to Directors, CVLs
A few months ago the order of payout in insolvencies changed. THE OLD RULES Where an insolvency started off before 1 December 2020, the order of payout (ignoring moratoria as so few are done) was: Creditors with a fixed charge; The expenses, then fees, of the...
