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  • What Happens When a Company Goes into Administration?

    What Happens When a Company Goes into Administration? Company administration is a formal insolvency procedure intended to salvage viable aspects of a struggling business or enhance returns for creditors before dissolution. Administration involves selling the business’ assets, distributing proceeds to creditors, and removing the company name from the Companies House register. Unlike liquidation, the administration…

  • What is a Winding Up Petition?

    What is a Winding Up Petition? A winding-up petition is a formal legal mechanism used by creditors to force a company that owes them money into compulsory liquidation if it is unable to pay its debts. This procedure is often considered a last resort for creditors seeking to recover outstanding debts. However, this legal action…

  • Beauty Salon Liquidation Advice

    Beauty Salon Liquidation Advice Running a beauty salon can be a rewarding and fulfilling venture, but the recent economic downturn has hit the industry hard, leaving many salon owners facing severe financial distress and uncertainty. Asset management, debt repayment, director responsibilities and investigations should be taken into account when considering a liquidation business. Seeking professional…

  • How To Resign As A Director

    How To Resign As A Director Resigning as the Director of a Limited Company requires following specific steps to ensure a smooth and legally binding resignation process. It is crucial to adhere to the notice period outlined in the Companies Act 2006 and meet all regulatory requirements to avoid potential legal consequences. Directors should formally…

  • Director Dispute Over Liquidation

    Director Dispute Over Liquidation When a company faces the challenging decision of liquidation, it’s not uncommon for disputes over wants to liquidate director wants to liquidate to arise among company directors, often referred to as a “director dispute over liquidation.” Balancing personal interests, legal obligations, and the company’s welfare can be a complex and delicate…

  • What Is a Trade Sale of a Business

    What Is a Trade Sale of a Business A trade sale is the sale of a company, or part of a company, to another business that will continue the company’s trade Trade sales are often seen as an opportunity for business owners looking to sell their company, or seeking to expand their market share. Despite their…

  • Can a company be reinstated after liquidation?

    Can a company be reinstated after liquidation? A company can be reinstated either through administrative restoration at Companies House or by a court application. However, if the company was voluntarily dissolved, restoration is possible only via the court. The application for restoration can be made by former directors, shareholders, creditors, or others who had a…

  • What is a Distribution in Specie?

    What is a Distribution in Specie? A distribution in specie occurs when a company distributes a specific non-cash asset directly, without first declaring an equivalent cash amount. We’ll explore the ins and outs of what is a distribution in specie, its role in Members’ Voluntary Liquidation, tax implications, and the relationship with overdrawn director’s loan…

  • Compulsory Liquidation

    Compulsory Liquidation Compulsory liquidation is a court-ordered process initiated by creditors to dissolve an insolvent company. It can involve significant costs and take up to a year or more, with potential personal liability for directors, reduced returns for creditors and priority given to the liquidator’s fees. Stakeholders have both rights and responsibilities that must be…

  • Business Restructuring & Company Streamlining

    Business Restructuring & Company Streamlining In the ever-changing world of business, companies must adapt and evolve to stay competitive. One way to ensure success is through a business restructuring company streamlining, which can unlock untapped potential and drive growth. Throughout this blog post, we’ll explore the benefits of restructuring and streamlining, delve into various types…