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Debbie Cockerton currently writes monthly articles for the Independent Certified Practising Accountant (ICPA) newsletter covering all insolvency areas.
Copies of these articles can be found below.
Should you require any further information on any matters discussed in these articles please do not hesitate to contact us.
Converting a solvent liquidation to an insolvent liquidation With every best laid plan, there sometimes comes a time when the unusual or unexpected happens and the goal post has to be moved, and this is the same in insolvency. The company may seem solvent at a certain time and the director signs and swears the…
Bounce Back Loans – Just keep on bouncing! As it is now over 12 months that some companies took out a Bounce Back loan, they are starting to have to pay them back. Some businesses are not going to be able to recover and will not be able to open again due to problems with…
**Case Study** – Scrap Metal Company – Creditors Voluntary Liquidation (CVL) DCA were approached by a director of a limited company in relation to HMRC arrears totalling around £82,000 in respect of VAT and PAYE. The director was unsure as to his options as he had not encountered this issue before and the problems…
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? 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…
There’s an air of uncertainty as Thursday looms closer and spending any length of time reading about the pros and cons can leave some bewildered and most just wishing the day would come already. There are many hot topics on the lips of various spokespersons and these include national security, the economy, trade rules,…
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…
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…
From 6 April 2016, the way you petition for your own bankruptcy has changed. You used to be able to download the relevant forms from the internet, complete them, and then file these at Court, paying the relevant fee. You would then need to attend a hearing at Court and attend before the Judge.…
Section 1003 of the Companies Act 2006 gives company Directors the authority to apply to strike off their company. Striking a company off and putting a company into liquidation are two different forms of dissolution and when considering the most beneficial way to wind a company down, it is important that you are aware of…