New insolvency reforms came into force 6th April 2016 to increase the amount of money creditors receive when insolvent companies are taken to court. The new rules, known as the Jackson reforms, mean insolvency litigation is no longer exempt from the…
The fierce level of competition in the cut-throat supermarket sector is forcing more and more food producers out of business. According to the latest research by accountancy firm Moore Stephens, producer insolvency in the last year increased to 162. That…
Company directors do not have carte blanche to act and behave as they wish. Limited liability is a privilege that comes with certain responsibilities. Failure to meet your legal obligations as a company director is punishable by fines, director disqualifications…
Charities and educational organisations, just like private sector businesses, need to manage their cash-flow levels carefully. Rise in charity insolvencies While the economic upturn should be good news for those reliant on donations and grants, a perfect insolvency storm is…
A pub landlord couple who ran a number of pubs in the Yorkshire area have had the last orders called on their business. The couple were handed an eight year director disqualification after accounting failures caused inadequate books and records…
At the beginning of January we wrote an article detailing the ‘perfect storm’ that was brewing in the retail sector that promised to bring a slew of insolvent retailers in 2016. Although retail failures following the Christmas period are not…
A series of sham construction companies with reported sales of £50million and assets of £8.4million have been forced into compulsory liquidation by the High Court. Rather than legitimate companies, an Insolvency Service investigation found the 15 organisations were nothing but…
Despite an excellent finish to 2015 and a strong start to the new year, there are warnings from industry insiders that UK businesses should expect a bumpy ride in 2016. The recent company insolvency statistics for Q4 of 2015 show…
The Government is sticking stringently to its position that there is no conflict between insolvency law and employment law. However, as we reported just last month, insolvency insiders, such as the trade body R3, still believe the current regulations lack…
The government’s decision to remove no-win, no-fee legal funding arrangements for creditors of an insolvent company is set to take £500m out of the hands of honest businesses and put it into the pockets of rogue directors. The insolvent company…
