Figures recently published by the Government’s Insolvency Service show a growing number of company directors being disqualified for misconduct in running their companies.
Trading in the twilight zone: Trading Whilst Insolvent
It’s often said that a company shouldn’t trade whilst it’s insolvent. Trading whilst insolvent, even knowingly, is not necessarily unlawful although it is, of course, far from desirable.
Whatever the question, a payday loan is not the answer!
It’s getting towards the end of the month and there’s nothing left in the account. You still have some bills to pay and you don’t know how you’re going to meet them. Sound familiar? Then, as you’re watching TV, up pops an advert for a payday loan company. Hey presto, all you need to do is make a quick telephone call, or go online, and all your financial woes will be a thing of the past!
Changes to bankruptcy thresholds – how will you be effected?
The Government has announced that it intends to increase the minimum level of debt for which an individual can be made bankrupt from £750 to £5,000.
When an increase in business is too good to be true
It’s been a tough few years, but hopefully things are at last looking up. Orders are starting to come through and the business world looks a much rosier place.
Will more SMEs need corporate recovery advice?
With the economy continuing to show signs of recovery, more SMEs are feeling confident about their future. However, this doesn’t mean they are all completely stable, as recent research shows that a growing number are exhibiting financial difficulties. Read more
Unpacking pre-packs – the new rules
For both politicians and the media, pre-packaged sales of businesses out of administration (or “pre-packs”) are often highly controversial, particularly when the sales are back to the directors or management of the failed enterprise. There is a perception that pre-packs are often abused by unscrupulous directors to simply “dump debts” and start afresh free of troublesome liabilities, and all for far less than the true value of the business.
New rules could help those seeking corporate recovery advice
Often one of the major obstacles preventing SMEs from growing, or in some cases surviving, is the lack of available finance. Even those with the right credit history don’t always get the help they need from the major banks.
More retailers are requiring corporate recovery advice
New research published by the accountancy practice Wilkins Kennedy shows that retail insolvencies were at their highest level in 2013 for five years. The figures highlight that despite the economic recovery, the number of retailers falling into financial difficulties continues to grow. For the year to the end of March 2014, 1,287 retailers became insolvent.
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