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New law aims to close loophole on company dissolution

New law aims to close loophole on company dissolution The government is set to introduce new rules preventing company directors from avoiding personal liability for their unlawful conduct. A loophole currently exists that allows company directors to prevent an investigation into their actions by informally striking off their own company. The so-called dissolution loophole

New law aims to close loophole on company dissolution2021-07-07T14:30:44+01:00

Wrongful or insolvent trading: Can company directors be personally liable?

Wrongful or insolvent trading: Can directors be personally liable? Wrongful trading occurs when company directors continue to trade past the point when they knew or should have known that there was no reasonable prospect of avoiding insolvent liquidation and in addition they did not attempt to minimise potential loss to the company’s creditors at

Wrongful or insolvent trading: Can company directors be personally liable?2021-07-07T14:35:27+01:00

What can businesses do to survive the UK’s deepest recession?

Surviving the UK’s deepest recorded recession The current recession, triggered by the Covid-19 lockdown, is the worst of any experienced by the G7 nations as well as being the biggest UK recession since records began in 1955. Despite growth returning, the effect of such a deep fall in GDP will have an ongoing effect

What can businesses do to survive the UK’s deepest recession?2021-07-07T14:41:31+01:00

UK Corporate Insolvency and Governance Bill: General meetings and restructuring

UK Corporate Insolvency and Governance Bill: General meetings and corporate restructuring A new bill, placed before Parliament on 20 May 2020, has been designed to offer protection to businesses and support the UK economy. The Corporate Insolvency and Governance Bill will allow companies in difficulty to benefit from a range of steps to try

UK Corporate Insolvency and Governance Bill: General meetings and restructuring2021-07-07T14:44:27+01:00

Facing corporate insolvency: What do I need to know about personal guarantees?

Facing corporate insolvency: What do I need to know about personal guarantees? Owners and directors of small and medium-sized businesses and start-ups are often required to sign personal guarantees in order to secure funding.  Should you face corporate insolvency a personal guarantee can put all of your personal assets at risk, including your family

Facing corporate insolvency: What do I need to know about personal guarantees?2021-07-07T14:48:40+01:00

Understanding bankruptcy and the matrimonial home: What are the risks I should be aware of?

Bankruptcy and the matrimonial home – what are risks you should be aware of? What is bankruptcy? In its very basic form, where an individual is made bankrupt, their assets will be collected by the Official Receiver or Trustee in Bankruptcy (“TiB”) for the benefit of unsecured creditors. Is your home at risk if

Understanding bankruptcy and the matrimonial home: What are the risks I should be aware of?2021-07-07T14:46:50+01:00

Winding up petitions: What are the 9 things you need to consider?

Received a winding up petition? 9 things you need to consider A winding up petition is a legal document that can be served by a company’s creditors when they are owed money by the company. If the debt amounts to £750 or more, then a creditor has the right to go to court and

Winding up petitions: What are the 9 things you need to consider?2021-07-07T14:46:22+01:00

Misrepresentation and the 11 facts you need to know

Misrepresentation and the 11 facts you need to know When someone is induced to enter into a contract because of a false statement made to them by the other party to the contract and they subsequently suffer a loss because of their reliance on that false statement, they are a victim of misrepresentation. A

Misrepresentation and the 11 facts you need to know2021-07-07T14:45:02+01:00
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