Bankruptcy
Rise in businesses surviving the recession? Load of rubbish!
The British Government is perhaps one of the biggest costs to UK plc. During the 2007 bank bailout, Her Majesty’s Treasury turned the banks’ private debt into a public liability. Suddenly, billions of pounds went from private to public ownership as the banks’ debt was transferred into the Government’s account. The Treasury is owned by…
Read MoreHow Do You Protect Yourself as a Director When Your Company Has Been Liquidated?
After a company is liquidated either through a Creditors Voluntary Liquidation (CVL) or compulsorily winding up by the court, the actions of the directors during the previous 12 months usually come under careful scrutiny. If the liquidator (or official receiver) believes the director(s) in question did not act in accordance with their duties, they can…
Read MorePremiership Football is a Rich Man’s Sport
Despite the popularity of football in England and the huge sums the sport generates, several well established clubs are facing liquidation just days before the 2010/2011 season is due to commence. The reason Portsmouth FC, Cardiff City and Southend United are all on the verge of bankruptcy is simple: these clubs’ expenses exceed their…
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