Advisory
Navigating Bounce Back Loans: Director Disqualification
During and since the Covid-19 Pandemic, Bounce Back Loans have been a lifeline for many strugglingbusinesses. But their misuse can lead to severe consequences for directors and companies alike. Inthis blog post, we’ll delve into the complexities surrounding these loans, the potential pitfalls, andthe importance of responsible financial management. Understanding Bounce Back Loans Bounce Back…
Read MoreNavigating the Overdrawn Director’s Loan Account in Insolvency
Directors, regardless of their company ownership, must walk a fine line when it comes to drawingmoney from their businesses. Understanding the intricacies of Overdrawn Directors Loan Accounts(ODLA) is crucial. This blog will delve into the ins and outs of ODLAs, providing insight into theirimpact on directors and the legal ramifications they can entail. As a…
Read MoreIndependent Financial Advisors (IFA)
An IFA (independent financial advisor) is someone who gives unbiased advice on how to invest in financial products across the market. What all financial advisers in the UK should have in common is that they’re regulated by the Financial Conduct Authority (FCA). This means there are rules they must follow when dealing with you. Choosing…
Read MoreMediation compulsory for County Court claims
The Ministry of Justice (MoJ) recently announced plans to introduce compulsory mediation sessions for County Court claims valued under £10,000. Under the new proposal, defendants and claimants with small claims under £10,000 must participate in a one-hour telephone mediation. The court will allow 28 days for the phone call to take place after close of…
Read MoreOptions for a profitable but insolvent company
As reports of company insolvencies come streaming in, it’s important for directors to weigh up business rescue options in advance. Panicking and making rash decisions under pressure could lead to a tragic , but wholly avoidable outcome. It is important to note that liquidation is not the only option available to you. One alternative is…
Read More3 alternatives to liquidation for directors
A clever director will be considering their options as the number of corporate insolvencies continues to rise in 2022. Still, try not to make rash decisions as they can lead to bad results. There are several alternatives to liquidation that can help a proactive director move forward with an insolvent but profitable business. An agreement…
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