On liquidating a
When a company enters into administration it is immediately protected from aggressive creditors and further legal action.It is very easy to get behind with your company's VAT & TAX payments.If a company is under pressure from creditors and struggling with cashflow, administration should be considered.It stops any further action and gives the administrator the opportunity to address the core problems and prevent the business going bust.A Company Voluntary Arrangement (CVA) works in exactly the same way for limited companies.It allows us to negotiate with your creditors to write off much of your company's debt.It establishes an affordable repayment plan and protects your company from further action.Often referred to as business bankruptcy, liquidation allows a company's unsecured debts to be written off and means as a director you can start again.
Trading companies are usually closed down, although sometimes they may continue to trade for a short time so the business can be sold.To enter a CVA a company must be considered insolvent or already be in liquidation.In many situations, a Business Recovery Plan is a very realistic course of action to take.Most businesses will prioritise their trade creditors, as they deal with them on a regular basis and they are central to the smooth running of the business. We have over 25 years experience as Licensed Insolvency Practitioners, so no matter what you are facing – we will be able to assist you.
We help companies and partnerships struggling with debt…
Contracts disappeared and existing projects were scaled back.