As a business owner, you understand the importance of cash flow and being able to pay your debts when they fall due.
When faced with the prospect of insolvency, many business owners adopt a ‘head in the sand’ approach hoping things will get better and the problem will eventually go away by itself. This rarely happens. The best way to deal with the prospect of insolvency is to be proactive and take steps to solve the problem – the sooner the better.
Insolvency has significant consequences for a company and its directors. Before you decide to enter a formal insolvency arrangement, it is critical that you fully understand all of the options available to you. We work with you to help you understand what your options are and the ramifications of each one for you and your business.
We provide comprehensive advice on all areas of insolvency, including:
- Insolvent trading claims
- Director’s penalty notices
- Statutory demands
- Winding up applications
- Director’s guarantees
- Formal insolvency arrangements (receivership, voluntary administration and liquidation)
- Unfair preference claims
- Creditor’s claims
- Public examinations, investigations and asset tracing
- Retention of title
- Security enforcement and priorities
- Creditor’s petitions