Use insolvency advice as prevention not just a cure

March 9, 2012

Many businesses have been faced with seeking insolvency advice as the tough economic climate forces many companies out of business or at the very least into financial crisis.

Official statistics from the Insolvency Service revealed that during 2011, there was an increase of between 2% and 4% of businesses going into liquidation, when compared to the year before. The figures for UK businesses were in contrast to that of individuals.

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Corporate insolvency advice from tri group – how we will improve your chances of survival.

February 3, 2012

When any company is in financial difficulty and needs insolvency advice, it’s vital that advice is sought at the earliest possible stage. The earlier that tri group are brought in, the greater the prospect of finding a solution that will enable the business to survive; rescuing your business is always our first objective. We start by ensuring that we understand the reasons for the difficulties and seek to remedy them.

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Misleading creditors might not be a good idea!

February 2, 2012

If you’re chasing recalcitrant company debtors this may be a useful case to have up your sleeve.  For directors of debtor companies it’s a clear statement that they can’t simply disregard their creditors and hide behind the security of the limited liability of their companies.

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Pre-packs: no change after all

January 5, 2012

The government has today announced that it will not be changing the legislation on pre-packs in administrations after all. Pre-packs, or pre-packaged business sales, have always been controversial. In essence, they involve placing a company into administration and the business being immediately sold, often to the current management.

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Don’t wait until you are in deep water to get insolvency advice

January 3, 2012

A business may need insolvency advice or be considered insolvent if it doesn’t have sufficient assets to cover its debts, or it is unable to pay its debts as and when they are due. If you monitor your businesses actual performance against your budget and the cashflow forecast regularly, this will give you an early warning of potential problems. You can then take action to avoid insolvency.

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BSCR Name Christmas Charities

November 15, 2011

Rather than send Christmas cards, each year tri group (formerly Burton Sweet Corporate Recovery) makes donations to charity. This year, all members of the team were asked to nominate the charities which we will support.

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Good News for Residential Landlords

November 8, 2011

Residential landlords will no doubt welcome a recent decision from the Court of Appeal in the case of Christina Sharples v Places for People Homes Limited.

Ms Sharples held an assured tenancy under the Housing Act 1988. She fell behind with her rent, and the landlords commenced possession proceedings. Five days before the scheduled hearing of the possession proceedings, Ms Sharples filed a bankruptcy petition and was made bankrupt.

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