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How Voluntary Administration Can Assist Your Company

How Voluntary Administration Can Assist Your Company   Companies experience financial difficulties all the time and particularly now with COVID 19 business owners need to be aware of their options if they suspect their company may be insolvent. Instead of closing your business permanently and placing it into liquidation, business owners should consider other available options such as a small

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Consequences of Insolvency to a Business

Consequences of Insolvency to a Business Insolvency refers to a state of financial distress which happens when a business cannot pay its debts. A limited company that is insolvent may enter into liquidation, whereas a partnership or sole trader may lose their personal assets, resulting in bankruptcy.   Consequences to Partnerships and Sole Traders Partners and sole traders that are

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What’s Insolvency? Here’s a Quick Overview

What’s Insolvency? Here’s a Quick Overview   If you’re insolvent, that means you have to file for bankruptcy, right? Not exactly. Insolvency can be a little confusing. But, we’ve got you covered.   Today, we go over the basics of insolvency and the options you have for financial assistance.   Insolvency v Bankruptcy Insolvency refers to a financial state of

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What are the new changes to insolvency laws in 2021?

What are the new changes to insolvency laws in 2021?   The most significant corporate insolvency reform in 30 years came in effect on the 1st of January 2021. New legislation that is applicable to small businesses has been passed by Parliament and given royal assent. With the end of the temporary Covid-19 relief measures, businesses must be familiar with

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