by Paul Brindley | Jan 22, 2023 | Advice to Directors, CVLs
Liquidation is a process that is used as a last resort for organisations that have become insolvent, which means that they are no longer able to pay off their debts. This can happen to non-profit charities just as much as it can happen to profit-driven companies....
by Paul Brindley | Jan 21, 2023 | Advice to Directors
Here are the top ten things you need to know about company insolvency… Insolvency is when a company is unable to pay its debts as they become due. There are several types of insolvency proceedings in the UK, including liquidation, administration, and company...
by Paul Brindley | Jan 21, 2023 | Advice to Directors
These are the top ten reasons companies fail: Cash flow problems Insufficient profitability Over-trading or rapid expansion Poor management decisions High levels of debt Lack of robust business plan or strategy Economic downturn or recession Failure to adapt to...
by Paul Brindley | Jan 21, 2023 | Administration, Advice to Directors, CVLs, Director Disqualification, Upsettable Transactions
Balance sheet insolvency occurs when a company’s liabilities exceed its assets. In this situation, the company may be unable to continue trading and may need to enter into a formal insolvency process, such as administration or liquidation. One of the key...
by Paul Brindley | Jan 20, 2023 | Advice to Directors, Director Disqualification, Upsettable Transactions
The top 5 takeaways from the Sequana case are: Directors have a duty to protect the interests of creditors when a company is facing financial difficulties or is insolvent. Directors must act with care and diligence in managing the company’s financial affairs and...
