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Compulsory Liquidation vs Creditors’ Voluntary Liquidation
Compulsory Liquidation vs Creditors’ Voluntary Liquidation Every business experiences ups and downs, but what happens when the downs become insurmountable? Compulsory liquidation vs creditors’ voluntary liquidation is two processes that can help a struggling company wind up its affairs. Compulsory Liquidation is a process initiated by creditors or the court, while Creditors’ Voluntary Liquidation is…
Can A 50-50 Shareholder Put A Company Into Liquidation?
Can A 50-50 Shareholder Put A Company Into Liquidation? Navigating the complexities of 50-50 shareholder dynamics can be a daunting task. Disagreements can arise, and with no one holding a casting vote, disputes can become seemingly impossible to resolve. A 50% shareholder can force a company into liquidation even if there is a dispute and…
What is a Company Limited by Guarantee?
What is a Company Limited by Guarantee? A company limited by guarantee is a type of corporation with members acting as guarantors instead of shareholders. Non-profit organisations such as sports clubs, workers’ co-operatives, and membership organisations often form companies limited by guarantee to benefit from limited financial liability. A company limited by guarantee has no…
What Is HMRC Time to Pay Arrangement?
What Is HMRC Time to Pay Arrangement? Facing tax debts and struggling to meet payment deadlines? Worry not! Our HMRC Time to Pay Arrangement solution might just be the option you are looking for. HMRC Time to Pay Arrangement is a payment plan designed to help businesses manage cash flow. It offers flexible repayment structure…
How Do I know If My Company Is Insolvent?
How Do I Know If My Company Is Insolvent? You know your company is insolvent when issues such as cash flow, pressure from creditors, high staff turnover, and difficulty paying wages arise. Insolvency is not a situation any business owner wants to face, but it is crucial to understand the implications and warning signs to…
Should I Strike Off or Liquidate My Company
Should I Strike Off or Liquidate My Company Are you considering closing your company but unsure whether to strike off or liquidate? This decision can be daunting, with various factors and potential consequences. We guide you through the differences between striking off and liquidation, the pros and cons of each process, and the legal obligations…
Can I Be Investigated if My Company Goes into Liquidation?
Can I Be Investigated if My Company Goes into Liquidation? Investigations into directors’ conduct are a necessity during both compulsory and voluntary liquidations. Company directors, shadow directors, and those who have instructed a disqualified director to act in an inappropriate manner may all be subject to an investigation. The aim of these investigations is to…
What Is the Process of Liquidating a Partnership Business
What Is the Process of Liquidating a Partnership Business Closing a partnership business can be a complex and stressful process. Understanding the various aspects of partnership liquidation and its alternatives can help partners navigate this difficult path with confidence. Liquidating a partnership business is a complex process that involves winding up an unincorporated entity and…
Can’t Pay Company Debt?
Can’t Pay Company Debt? Are you concerned about the potential implications for your business and personal finances when you can’t pay company debt? This guide will explain the vital steps and options available to navigate the treacherous waters of company debt. Understanding your company’s financial situation, seeking professional advice, and exploring debt management solutions can…
Closing A Company With Debts And No Assets
Closing A Company With Debts And No Assets As a business owner or director, it’s crucial to understand the available options when closing a company with debts and no assets. Options include negotiating with creditors, considering formal insolvency procedures like a Creditors’ Voluntary Liquidation (CVL) Ensuring compliance with legal obligations throughout the process, communication with…