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...
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 | Aug 16, 2019 | CVLs, Ethics & Regulation
HMRC have recently published a paper setting out their policy for dealing with taxpayers who they see as unfairly reducing their tax liability by misusing company insolvency procedures. In summary where HMRC believe there to have been tax avoidance, tax evasion or...
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 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...
