We are a progressive firm providing constructive advice to both companies and individuals with financial difficulties as well as to fellow professionals in order to enable them to advise their clients. Our insolvency practitioners have many years of experience between them across all industry sectors with particular focus on owner managed businesses. If you have any concerns about the financial affairs of your business, or just wish to discuss a potential issue do not hesitate to contact us on 020 8446 6699.
As a company director you have a duty of care to the company, its shareholders and employees. You are required at all times to exhibit a reasonable standard of skill, care, honesty and good faith. If you recognize that the company is insolvent or likely to be insolvent in the near future, when considering both current, future and contingent liabilities you should seek advice. MORE
It is our experience that sole traders, partnerships and individuals feel very vulnerable in times of financial difficulty. They do not have the protection of limited liability status and as such their exposure is limitless. We find that many individuals hide their heads in the ground fearing to deal with their debts until it is too late. There are various ways that financial problems can be dealt with. MORE
In certain circumstances, it may be appropriate to wind up a solvent company. This is done by a Member’s Voluntary Liquidation which will be initiated by the directors but is done through shareholder approval. This method of asset realisation and distribution to shareholders is tax advantageous as distributions fall under the Capital Gains Tax Rules and are not treated as income. MORE