What Are the Pros and Cons of an IVA? An Individual Voluntary Arrangement - or IVA - serves as an alternative to declaring bankruptcy. It functions as a kind of repayment plan, allowing you to keep hold of your valuable

What Are the Pros and Cons of Bankruptcy? Bankruptcy is a much-feared but widely misunderstood insolvency procedure, which actually serves as one of the best routes out of debt in the UK. It can put a firm end to your

What Is Pre-Pack Administration? Pre-pack administration is a unique procedure where the sale of a company is arranged prior to the appointment of the administrator. Once the administration begins, the sale takes place immediately, or soon after. There are a

What Are the Pros and Cons of an MVL? There are many reasons why you may want to close a company. Perhaps you’re ready to retire, or maybe you simply want to move on to another venture. When looking to

What Are the Pros and Cons of Administration? For many directors of insolvent companies seeking to avoid closure, administration appears to be the answer they’ve been looking for. The procedure can restructure a company and its inner workings, ironing out

What Are the Pros and Cons of a CVA? A Company Voluntary Arrangement - or CVA - is an attractive solution to many struggling business owners, as it aims to achieve the successful turnaround of a company rather than see

What Are the Pros and Cons of a CVL? For insolvent companies in the UK, a Creditors’ Voluntary Liquidation (CVL) is the most common and highly recommended means of business closure. The process allows directors to neatly wrap up a

Birmingham City Council's Bankruptcy Explained With the recent news regarding Birmingham City Council, we take a look in this article at what "bankruptcy" for a council means. Contents What Is a Section 114 Notice? On Tuesday 5 September, the deputy

What Is a Phoenix Company and Are They Legal? Phoenix companies are businesses that have reformed in the wake of administration or liquidation. The old company is shut, while a new one - with the same members, products, and services

What Is Limited Liability? Limited liability is a protection afforded to directors, partners, and shareholders of limited companies. When a business is incorporated and formally registered on Companies House, it becomes its own legal entity, making it responsible for its own