Posts Tagged ‘Insolvency’
Insolvency Practitioners to be Independently Regulated – About Time
Last week, the Office of Fair Trading (OFT) released a report criticising the insolvency industry and calling for the establishment of a complaints body to regulate practitioners. The report found that, on average, insolvency practitioners (IPs) earn fees of up to 20pc of the assets available when firms are wound up. A large part of…
Read MorePre Pack Administration Can Be a Stress-Free Zone
When a director decides they’re better off without their company’s liabilities and wants to move their assets to a new company, a pre pack sale is a viable legal option. Pre pack administration can be sought after a company is served with a winding up petition or when insolvency threatens. The pre pack process takes…
Read MoreHow Are Winding Up Petitions Dismissed and Withdrawn?
Cardiff City Football Club was celebrating last week after having their winding-up petition dismissed at the High Court.The Bluebirds settled their £1.9m tax bill with Her Majesty’s Revenue and Customs (HMRC) on Wednesday following seven months of financial turmoil.
Read MoreRMJ Administration Boils Down to Facts and Law
It’s sad to hear the Refugee and Migrant Justice (RMJ) charity has gone into administration. RMJ Chair Paul Gray says 10,000 asylum seekers and migrants – 900 of them children – could be left without legal representation.
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