Joiner receives 15 month suspended jail sentence for Covid Bounce Back Loan fraud despite repaying the Loan in full
The Government’s tough stance on Covid Bounce Back Loan (BBL)* fraud continues In a recent case, a former joiner from Romford has been sentenced for Covid Bounce Back Loan fraud (BBL)*, demonstrating the seriousness with which the Insolvency Service addresses such misconduct. Details of this Case Charles Ling, aged 57, of Havering-atte-Bower, Essex, who operated […]
Antony Batty & Company Focus on Employees: Besa Mustafa
Besa is based at our London office and is a Senior Insolvency Administrator Besa Mustafa joined us in June 2024, when we merged with B & C Associates. Besa is a Senior Insolvency Administrator and is based at our London Mill Hill office. We asked her to answer some questions, including what got her into the insolvency […]
Directors must be vigilant to avoid Wrongful Trading
Directors must be vigilant to avoid Wrongful Trading
How can Insolvency Practitioners help distressed and insolvent companies reduce/avoid the risk of Wrongful Trading?
Are there alternatives to liquidating a limited company without using an Insolvency Practitioner?
“I can’t afford to liquidate my company. What are the alternatives to liquidation?” This ia question we are often asked. When directors are facing the stressful task of closing their limited company, the cost of appointing a Licensed Insolvency Practitioner (IP) to run a formal procedure, such as a Creditors’ Voluntary Liquidation (CVL), can seem […]
Directors, if you do the same things again, you risk getting the same result – another liquidation!
“What am I going to do for work if I have to liquidate my company?”* I meet many directors every year, especially those of small companies, where we have acted as liquidators, who then tell me they want to set up a new business and start again. They say they don’t know anything different, want […]
In the Nicest Way, I Don’t Want to See You Again!*
Preventing Multiple Liquidations and Avoiding Director Disqualification Multiple liquidations can lead to an Insolvency Service investigation and possible Director Disqualification for directors breaching their duties. As a director at a firm of Insolvency Practitioners, my primary goal is to help businesses navigate through financial distress and, when necessary, guide them through the liquidation process. However, […]
What can agreeing Personal Guarantees mean in insolvency? Personal liability is the legacy from insolvency
Directors must always be wary of Personal Guarantees when borrowing money, especially when ‘alternative lenders’ are involved. One of the first questions we ask directors of insolvent companies is whether they have any Personal Guarantees (PG) on outstanding loans. The answer is often no, and yet, we quickly discover that many of them do. In […]
Record number of company closures and 5,000 more tax inspectors
More businesses under financial pressure, whilst Government announces 5,000 additional tax inspectors focusing on SMEs and reducing the tax gap After years of difficult trading for many businesses, two key statistics show that the outlook for many is worsening as we head into 2025. Plus, with the news that the Government is recruiting an extra […]
Honesty and listening are the best policies when Insolvency Practitioners are approached by directors of struggling companies
Nitin Joshi argues that when it comes to Creditors Voluntary Liquidations (CVLs), listening and being honest help craft the most cost-effective solutions In this article, one of our partners, Nitin Joshi, looks at the recent focus on Creditors Voluntary Liquidations by the Government’s Insolvency Service, much of it on costs. Nitin argues that these issues are […]
Big rise in company insolvencies predicted in 2025
Our Licensed Insolvency Practitioners expect a big rise in insolvencies following the significant increase in employers’ national insurance and the Minimum Wage in the recent budget. The November 2024 budget introduced several measures that have raised significant concerns from across the business spectrum about the likelihood of an increase in company insolvencies, especially amongst SMEs, […]
