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What Does It Mean To Fold A Business?
This blog explains what it means to fold a business, detailing the reasons behind closure, the liquidation process, and its implications for assets, creditors, and...
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What is a Director’s Report?
This blog examines the role of a Director’s Conduct Report during liquidation, focusing on how insolvency practitioners investigate and document directors’ compliance with legal responsibilities....
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The Difference Between Compulsory and Voluntary Liquidation
This blog outlines the key differences between compulsory and voluntary liquidation, including their processes, initiation, and impact on directors. It also provides guidance for directors...
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What Happens to Directors During Company Liquidation
When your business is going through the liquidation process, your new responsibility as a director will be to assist the insolvency practitioner in the process....
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What is a Declaration of Solvency
A declaration of solvency is a formal statement made by a company’s director(s) to confirm that the company is solvent, allowing it to proceed with...
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What is a Distribution in Specie?
A distribution in specie refers to the direct transfer of company assets in their physical form, rather than converting those assets into cash before distribution....
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Can a Company Still Trade if it is Insolvent?
If your company is facing insolvency or liquidation, you cannot continue trading. As a director, once you have decided to enter into liquidation, you must...
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How Much Does It Cost to Liquidate a Company?
The cost of liquidating a company usually varies depending on the type of liquidation required, the size and complexity of the company, and the assets...
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What Happens to Employees in Liquidation
When a company goes into liquidation, the employees are typically made redundant immediately. These employees then become preferential creditors for most of the amounts owed...
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Personal Guarantees and Invoice Finance
When exploring invoice finance options, it’s crucial to grasp the role personal guarantees play in the process. Unlike some other financing avenues such as loans...
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