Posts Tagged ‘litigation’
Remedies for Struggling Directors: CVAs and Renegotiating with Creditors
Company directors experiencing financial difficulties often consider terminating agreements and contracts to reduce the burden of their debts. A director in this position must avoid delaying decisions and rectify the situation as soon as possible; otherwise the business will experience a rapid decline in trade and become insolvent. Reducing staff and rented equipment will lower costs,…
Read MoreSection 127 of the Insolvency Act: Stop Spending If You Receive a Winding Up Petition
If you’re a business owner and expecting difficult financial times ahead, now’s the time to educate yourself on insolvency legislation to ensure you don’t become the subject of litigation. A record number of winding up petitions will be served on ailing businesses in the coming year, but most of their recipients – company directors –…
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