Posts Tagged ‘Administration’
Business rescue advice: administration vs CVL
When directors resolve not to rescue an insolvent company, an insolvency practitioner (IP) may recommend placing the company into administration. However, in many instances a creditors’ voluntary liquidation (CVL) would be a more suitable insolvency procedure. Whereas companies remain in administration for at least 12 months, CVLs usually take less time and therefore incur fewer…
Read MoreInsolvency & Law Shortlisted for “Insolvency and Restructuring Firm of the Year 2016″ award
London-based magazine Finance Monthly, which is distributed to more than 100,000 readers across the globe, recently shortlisted Insolvency & Law (I&L) in the category of British ‘Insolvency and Restructuring firm of the year, as part of the eighth annual Finance Monthly Global Awards. To celebrate the nomination, below, I&L director Peter Murray shares his thoughts…
Read MoreOlympics 2012 Builder’s CVA is Attempt to Hide Insolvency
A construction firm that helped build the London 2012 athletes’ village has been forced to file for a Company Voluntary Arrangement (CVA), just three months after the Olympics.
Read MoreComet Administration a Wakeup Call for Zombie Companies
In December 2010, I warned that struggling businesses that relied on Christmas trade to maintain solvency were asking for trouble.
Read MoreTop UK Director Sir Clive Thompson Facing Disqualification Proceedings
The Insolvency Service (IS) is to launch disqualification proceedings against one of Britain’s leading businessmen, Sir Clive Thompson, over his role in the failure of Christmas savings club Farepack, according to the Daily Mail newspaper. More than 116,000 people lost a total of £40m when Farepack collapsed in 2006 – after lending around £35m to…
Read MoreSuits You Administration is a Sign of Things to Come
British clothing retailer Suits You has collapsed into administration just eight months after entering a company voluntary arrangement (CVA), which aimed to save the Leeds-based business. Administrators Zolfo Cooper said they would wind down loss-making stores, but support the chain’s successful branches and sell as much of the business and assets as possible. The firm’s…
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