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26 March 2021 Business Insolvency

There are three main types of liquidation: compulsory liquidation, Creditors’ Voluntary Liquidation and Members’ Voluntary Liquidation. Although each option leads to the same outcome, ending with a company being liquidated and dissolved, they are all very different processes. Your situation and circumstances will determine which type of liquidation will be the right one for you.…

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On 3rd March 2021 the Chancellor Rishi Sunak unveiled his 2021 Budget, outlining the road to recovery for the UK economy which has been badly impacted by the coronavirus pandemic and subsequent lockdowns throughout the last year. Many businesses small and large have been impacted by the pandemic, whether they have experienced loss of income,…

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19 March 2021 Business Insolvency

Since March 2020 thousands of businesses in the UK have been impacted by the COVID-19 pandemic and subsequent lockdown and social distancing restrictions. Some of these companies will now find themselves to be insolvent. This means they can no longer cover their daily costs or debts. For some of these companies, business rescue is not…

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16 March 2021 Business Insolvency

There are several ways a company can be liquidated. From compulsory liquidation, which is forced onto a company, to voluntary liquidation which includes Creditors’ Voluntary Liquidation and Members’ Voluntary Liquidation. Although each of these options ends with the company being liquidated and dissolved, they are very different processes with their own advantages and drawbacks. In…

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12 March 2021 Business Insolvency

A company director should seek insolvency advice at the first sign the business is struggling financially. If you are quick to act more options will remain open to you, whether that is voluntary   liquidation, a Company Voluntary Arrangement, company restructure or the sale of the business as a going concern. If you don’t act, however,…

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