News and Blog
What's happening in the world of insolvency and company rescue
Debt Relief Orders (DRO)
A Debt Order (DRO) is an insolvency measure designed as an alternative to bankruptcy, for debtors who are struggling to meet their liabilities, and have either very few, or no tangible assets.
Posted: 07/05/2024
What is Members’ Voluntary Liquidation?
A company does not have to be insolvent in order to be placed into liquidation. Shareholders can choose to place a Company into a Members’ Voluntary Liquidation (MVL)
Posted: 25/04/2024
What Is A Creditors Voluntary Liquidation (CVL)?
A Creditors Voluntary Liquidation (CVL) is a voluntary process whereby the directors and shareholders of an insolvent business can place the company into liquidation.
Posted: 08/04/2024
Personal Guarantees
- What is a Personal Guarantee?
- Before Making a Personal Guarantee
- Repayment Options
Posted: 12/03/2024
The Queen’s Portraitist who Stole £50,000
- Who is Darren Baker?
- Misconduct
- Implications of Being Disqualified as a Director
Posted: 21/04/2023
Understanding Director’s Loan Accounts
- What is a Director’s Loan?
- Lending Your Company Money
- Overdrawn Director’s Loans
- Loan Accounts and Liquidation
Posted: 26/02/2023
Repayment of Bounce Back Loan and Bounce Back Loan Scheme Abuse
- What is a Bounce Back Loan?
- What are Bounce Back Loans for?
- Repaying a Bounce Back Loan
- Bounce Back Loans and Insolvency
- Misconduct
Posted: 19/01/2023
First Bounce Back Loan Criminal Conviction
On Friday 24 June 2022, The Insolvency Service obtained their first criminal prosecution for Bounce Back Loan fraud against Mr Abdulrazag Zagroba.
Posted: 05/08/2022
Abuse of The Bounce Back Loan Scheme
Last month the Times featured an article about how “suitcases filled with cash from taxpayer-backed Covid loans were seized at the border as people tried to smuggle them out of the country.”
Posted: 01/06/2022
Employee Claims In Insolvency - Part 2
Following the recent case of Palmer v Northern Derbyshire Magistrates' Court where the Administrators were facing criminal prosecution through failure to file a HR1 form; now would be a good idea to produce a two part blog on Employee Claims.
This is the second blog and it will look at the obligations of employers to consult with their staff when facing potential redundancies...
Posted: 19/04/2022
Employee Claims In Insolvency - Part 1
Following the recent case of Palmer v Northern Derbyshire Magistrates' Court, where the Administrators were facing potential criminal prosecution through their failure to file a HR1 form; now would be a good idea to produce a two part blog on Employee Claims. This is the first blog and it will deal with what claims the employees have...
Posted: 08/04/2022
Employment Law v Insolvency Law – Who Wins?
There has always been a conflict between insolvency law and employment law, each with their own rules, and differing priorities. This is particularly so in respect of Administrations, where whether or not to pre-package a sale continues to divide opinion.
Posted: 24/01/2022