by Paul Brindley | Aug 21, 2019 | Administration, CVLs, Ethics & Regulation, MVLs
I am often asked what is the order of payout of creditors in a corporate insolvency? Here it is: The ‘Pool’ of assets subject to a fixed charge/fixed charges (i) The fees, costs and expenses incurred by the insolvency practitioner in preserving and then...
by Paul Brindley | Jul 18, 2019 | Administration, CVLs, Ethics & Regulation
It might seem an unusual question, but is it important that your insolvency practitioner understands your business and its assets and the environment in which it operates if they are only liquidating it? Perhaps this question was answered in a recent case that hit the...
by Paul Brindley | May 23, 2019 | Administration
Hadlow College was put into administration yesterday, the first college to go into administration since the government introduced some new insolvency laws for the sector earlier this year. The government never take the time to create new laws specifically for the...
by Paul Brindley | May 17, 2019 | Administration, CVLs
When a limited company starts to face financial problems, its directors need to bear in mind a number of aspects of insolvency law: Compliance with their duties under the Companies Act 2006 S171 Duty to act within powers S172 Duty to promote the success of the company...
by Paul Brindley | May 16, 2019 | Administration, CVLs, Ethics & Regulation
While a company is doing well, the law requires that the directors work to ensure the continuing success of the company for the benefit of the shareholders. It’s a duty that is owed to the company itself, and to the shareholders as a whole, not just one or some. When...
