How Do I Know If My Company Is Insolvent?

Is My Company Insolvent? The Cashflow Test Can the company pay its debts as they fall due for payment? For example, if your trade creditors sell to you on say 30 days terms and you regularly pay on 60 days, then your company could be insolvent. A director has a legal responsibility to the company…

What is a Statutory Demand?

What is a Statutory Demand? A Statutory Demand is a formal demand for payment which is sent by a creditor either as a scare tactic or a pre-requisite to wind up a company (Corporate) or to make someone bankrupt (Personal). The form allows for the period of 21 days from the demand being served to…

New Office!

DCA Business Recovery have now moved offices and are now located at 18 Clarence Road, Southend on Sea, Essex, SS1 1AN. The move will allow the business to continue to grow and for us to provide a more complete service with multiple board rooms and other office space to utilise when meetings are being held.…

Voluntary vs Compulsory Liquidation

Running a business can be very rewarding but also hard work and requires a lot of effort and commitment from the directors of the Company to keep the business alive. The directors should always be aware of their obligations to the Company and should decide to seek financial advice as soon as possible if they…

Sharp Rise in March 2016 Liquidation Figures

A recent report by R3 has shown that the number of solvent liquidations was nearly triple that in March 2015, rising from 992 to 2,663, with the monthly average for the 12 months prior to March 2016 being 768. The number of solvent liquidations began to rise at the end of 2015 when the new…

Directors Offences in Liquidation

Directors Offences in Liquidation When a company is placed into liquidation, either via a Creditors Voluntary Liquidation or a Compulsory Liquidation, the conduct of the directors will form an integral part of the investigations made by the office holder. Most directors are not even aware of their duties as a director of a limited company…