by Paul Brindley | Sep 1, 2019 | CVLs
There are several points to note about disclaimer: The power of disclaimer occurs only in liquidation. It’s a power given to liquidators and not to Administrators, Administrative Receivers, Supervisors of CVAs, or Fixed Charge/LPA Receivers. The liquidator can...
by Paul Brindley | Aug 28, 2019 | CVLs
For hundreds of years landlords used to seize and sell the assets of their tenants who could not pay their rent using the process of distraint – imagine the lord of the manor turning up in the village in medieval times, taking the villagers chickens to the market to...
by Paul Brindley | Aug 28, 2019 | CVLs, Ethics & Regulation
The first step a creditor must do before presenting a winding up petition is carry out a search to check that no other petition has already been presented. This is because unless there are truly exceptional circumstances a second petition will not be allowed to be...
by Paul Brindley | Aug 26, 2019 | Advice to Directors, CVLs, Ethics & Regulation
A compulsory liquidation is started off by the presentation of a petition in court to wind up the company. What grounds does the petitioner have to show? There are several a petitioner has to show, all set out in section 122 of the Insolvency Act 1986: The company...
by Paul Brindley | Aug 23, 2019 | Administration, Advice to Directors, CVLs, Ethics & Regulation, Upsettable Transactions
Directors often come to me troubled, worried about their position as a director of a company that’s at risk of failing, perturbed by all the scare stories about personal liability and other penalties, their minds racing. Yet it’s not a crime to be involved with a...
