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The latest insights and trending topics from Begbies Traynor Group
What is director disqualification?
A director’s disqualification order bans you from acting as a company director due to unfit conduct, but you are able to work as a company employee.
Who is Liable for my Accountant's Mistakes?
Hiring an accountant to complete your company accounts and tax returns not only frees up time, it negates the need to employ high-level finance staff in-house.
Director disputes – when one wants to liquidate and one doesn’t – what next?
If you are in serious dispute with a co-director – maybe you have strongly disagreed on a matter of business, for example, or are a divorcing couple - you may want to liquidate the company and move on.
Options When your Company is Refused Finance
Being refused finance or having a loan called in by your bank is a common process when a lender senses risk. However, other funding options may be available
What is an insolvent estate?
An insolvent estate is left when a deceased person’s debts are greater than the total value of assets, and therefore money is owed to their creditors.
What are directors' duties and consequences of breach?
The Companies Act, 2006, sets out the general duties of company directors in the UK. If you breach these duties the consequences can be severe, with the company, its creditors, or shareholders having the right to pursue you on a personal level for any losses they have suffered.
What is misfeasance and what happens if I am found guilty?
Under the Companies Act, 2006, directors can be held personally liable for losses caused to creditors where ’misfeasance’ has occurred.
Assistance for Creditors with Retention of Title (ROT) Claims
Retention of Title (ROT) can be a complex affair unless the clause is unambiguous in its content, and delivered in a manner that cannot be disputed by the debtor. It often forms part of a written contract between the supplier and their purchaser, and is likely to have been discussed at some point during negotiation
What is a Statement of Affairs?
What is a Statement of Affairs? Find out what this means and how Begbies Traynor can provide key advice.
Company Director Options When Facing a County Court Judgment (CCJ)
Applying for a County Court Judgment (CCJ) against a limited company is often the result of failed attempts by creditors to recover a debt.
Accelerated Payment Notices
If you are one of the many companies that have received an accelerated payment notices then you have very little time in which to act.
What is an intervention procedure when professional firms become insolvent?
In England and Wales, the Solicitors Regulation Authority (SRA) has the power to close down professional firms under certain circumstances.
Can I be a director of multiple companies even if one is in liquidation?
Under company law you can be a director of multiple enterprises, regardless of whether one company is in liquidation.
What are disbursements in a Members’ Voluntary Liquidation (MVL)?
Members’ Voluntary Liquidation (MVL) must be carried out by a licensed insolvency practitioner which incurs professional fees/costs including disbursements.
