Posts Tagged ‘insolvency and law’
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 MoreWhat is an Insolvency Practitioner?
An insolvency practitioner (IP) has several roles and under the Insolvency Act 1986 can act as a liquidator, administrator, nominee and supervisor in matters relating to bankruptcy. They are authorised by the Secretary of State for Trade & Industry, the Insolvency Practitioners Association (IPA) or one of the other bodies recognised under the Insolvency Act.…
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…
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