Understanding what insolvency means for you, or your business can be daunting and we appreciate that you will have a lot of questions and concerns.
That is where our frequently asked questions page can help. Click on the links below to find out more.
- What is a statutory demand?
- Who decides that an individual is bankrupt?
- What happens when an individual is made bankrupt?
- Is bankruptcy the only procedure open to insolvent individuals?
- What happens if the Court makes a bankruptcy restrictions order (BRO) against you?
- What is an IVA?
- What are the benefits of an IVA?
- What is a Debt Relief Order (DRO)?
- How is a DRO different to a bankruptcy?
- What are the implications for creditors of a DRO?
- What is a winding-up petition?
- What procedures are open to an insolvent company?
- Can the company name be re-used?
Administrations and administrative receiverships
- What is an administration?
- Who appoints an administrator?
- What happens after the appointment of administrators?
- What happens to the company at the end of an administration?
- What is an administrative receivership?
- What other types of receivership are there?
Pre-packaged administrations (pre-packs)
Company Voluntary Arrangements
- What is a Company Voluntary Arrangement (CVA)?
- What is the effect of a CVA?
- What is a Partnership Voluntary Arrangement (PVA)?
- How does it differ from other partnership insolvency procedures?
- What is compulsory liquidation?
- What are the advantages of a Creditors Voluntary Liquidation?
- What is a provisional liquidation?
Directors of an insolvent company
- What conduct may lead to a director being disqualified?
- What is wrongful trading?
- What is fraudulent trading?
For further information, please contact one of our Client Service Team who will be able to assist you.