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Beginner’s Guide to Corporate Insolvency

– Business Guide – A beginner’s guide to ‘Corporate Insolvency’ that will make the difference when facing tough business decisions. This book shares the vital knowledge you need to succeed including how to recover debt. AVAILABLE NOW!

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Directors guilty of BBL abuse face disqualification

Directors face disqualification for Bounce Back Loan (BBL) abuse

A few months back, we protested the Insolvency Service’s decision to chase the owners of failed businesses for failing to repay Bounce Back Loans. However, the findings of a report by the House of Commons public accounts committee suggest the agency’s strategy may be appropriate after all. To help struggling small-to-medium enterprises (SMEs) during the…

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Benefits of a creditors’ committee

Benefits of a creditors committee

Creditors in a statutory insolvency procedure should establish a creditors’ committee if they want to influence proceedings, set the basis for the insolvency practitioner’s fees, and increase dividends for the general body of creditors. A creditors’ committee consists of 3 to 5 people who are responsible for setting the basis of the insolvency practitioner (IP)’s…

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Pros and cons of the moratorium procedure

Company directors, insolvency and moratoriums

Under the provisions of the Corporate Insolvency and Governance Act 2020, struggling companies can be placed into a new statutory insolvency procedure. But what are the pros and cons of the moratorium? The moratorium provides up to 40 business days of protection from creditors. This should be ample time to secure additional investment and remodel…

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How should builders and tradesmen collect overdue debts?

How should builders and tradesmen collect overdue debts?

According to figures released by the Office of National Statistics, the building and construction industry contracted 1.9% in the third quarter of 2015, which suggests contractors will be tightening their belts this year as the market becomes more competitive. This is particularly bad news for roofers, plumbers and other subcontractors (‘subbies’). Why? Because in a…

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