An Independent Business Review (IBR) is a process initiated by a bank or similar institution if they have concerns over the financial health of a borrower.
The directors of a failing company are likely to approach a licensed insolvency practitioner initially, for advice and guidance on their options. If a formal insolvency procedure is decided upon, they will need to appoint a licensed IP to administer it.
A Notice of Distress letter is the consequence of a lengthy period in which you or your company has failed to meet liabilities on time and, as a result, the creditor is seeking repayment through the use of a third-party debt recovery agency.
Both fixed and floating charge holders are classed as secured lenders; however, there are some important differences between these two types of charges.
Begbies Traynor provides guidance on the dissolution of a business partnership, such as a limited liability partnership, and the potential tax implications.
Used incorrectly debt can be disastrous to a company. However there is a ‘healthy’ level of debt, or ‘gearing’ that allows companies to achieve long-term growth
If your company has been liquidated and you are in the process of setting up a new business, you may be tempted to use the same, or a similar name, for your new venture.
Understanding the rights of your employees in redundancy is an important part of any insolvency procedure. Here we look at what happens during various administration and liquidation processes, plus the way in which redundancy entitlement is calculated.
If your company is registered in Scotland and is experiencing financial problems and potential insolvency, there are potential rescue options available.
The ability to spot when a customer or a supplier is in financial difficulty is extremely important in safeguarding the stability of your business.
A winding up petition hearing includes assessing evidence of existing debt, attempts to recover the funds by the creditor, and creditor motives.
A Walking Possession Agreement (WPA) will follow on from an HMRC Distraint notice, five days after the distraint was issued.
If your company owes money to HMRC or another creditor and you have been unable to settle the debt, they may take out a Distraint Order against your company. This involves the seizure of goods to the value of the debt, plus the fees for enforcement action.