Tax and Insolvency Litigation Solicitor

Month: December 2016

How to deal with your creditors informally

In circumstances where the level of your overall debt means that you are struggling to make repayments as they fall due advice from a specialist insolvency lawyer, whether a solicitor or a barrister is essential. There are occasions however where an informal arrangement may be much preferable to a formal procedure, such an Individual Voluntary […]

Statutory Demands and Personal Bankruptcy

  If you are an individual (as opposed to a company) and you owe money the consequences can be draconian. You would be well advised to seek advice from a specialist insolvency lawyer at the earliest opportunity. The person seeking payment (the creditor) may issue a Statutory Demand (or a “Stat Demand” as it is […]

A Directors’ duty to creditors when insolvency is anticipated

A curious thing happens when a director believes his company is about to be insolvent. Whereas the legal obligation of the director up to this point has been to promote the best interests of the company (Companies Act 2006, section 172) his priority must then change to considering the best interests of creditors. This can […]

I have received a letter from the Insolvency Service telling me that I am about to be disqualified

Being told that you are about to be disqualified from acting as a company director is not a happy day. Where the Insolvency Service recommend to the Secretary of State for your disqualification to act as a company director they should required to write to you and tell you about this.   Section 16 (1) […]

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