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Difference between insolvency and bankruptcy / insolvency vs bankruptcy

Category: Insolvent liquidation | Posted on: 20th July 2021

What’s the difference between insolvency and bankruptcy? “What’s the difference between insolvency and bankruptcy?” is a question we’re commonly asked by clients with businesses that are in financial distress.   The short answer is…  ‘Insolvent’ is the terminology used for a limited company, sole trader, partnership or individual that cannot pay its debts on time or …

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The reasons a Members’ Voluntary Liquidation is required

Category: Liquidation | Posted on: 28th June 2021

The reasons a Members’ Voluntary Liquidation is required  A Members’ Voluntary Liquidation (MVL) is the liquidation of a solvent company. ‘Solvent’ means that your company has no problem paying its debts in full and on time. You most likely also have profits in your company.   If you’re looking to close your business and it’s solvent, …

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Compulsory Liquidation and how to avoid it

Category: Compulsory Liquidation | Posted on: 21st June 2021

Compulsory Liquidation Compulsory Liquidation is the forced liquidation of an insolvent company by the courts. It happens in cases where, because a company cannot pay its debts, one or more of its creditors request through a winding up petition that the courts enforce the liquidation (or winding up) of the company’s assets to repay the …

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Winding up a company – what does it means & what are the benefits?

Category: Liquidation | Posted on: 18th June 2021

Winding up a company  Winding up a company, in its simplest form, means to stop trading, liquidate your assets and close your limited company, striking off the company from the register at Companies House. Winding up a company is also known as liquidating a company.  When you wind up a company, you use the assets …

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Benefits of insolvent liquidation – how can it help you?

Category: Insolvent liquidation | Posted on: 9th June 2021

Benefits of insolvent liquidation.  What are the advantages and disadvantages of insolvent liquidation?  Facing insolvency is a difficult and often stressful time for business owners and company directors. But believe it or not, there are benefits of insolvent liquidation. We explore them for you below and look at why these benefits of insolvent liquidation might …

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Solvent liquidation vs insolvent liquidation – what’s the difference?

Category: Liquidation | Posted on: 8th June 2021

Solvent liquidation vs insolvent liquidation  What’s the difference between solvent and insolvent liquidation?  To look at solvent liquidation vs insolvent liquidation, we first need to look at a commonly asked question: ‘What’s the difference between solvent and insolvent liquidation?’  The main difference between solvent and insolvent liquidation is that each is used in a different …

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Causes of business insolvency-what are the reasons for insolvency

Category: Insolvent liquidation | Posted on: 2nd June 2021

Causes of business insolvency-what are the reasons for insolvency Causes of business insolvency  A business is deemed to be insolvent if it can’t pay its creditors on time or in full, now or in the future. There are many common causes of business insolvency, which we explore below. Our business rescue experts and licensed insolvency …

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Liquidator in corporate accounting – why you must have one.

Category: Liquidation | Posted on: 31st May 2021

What is a Liquidator in corporate accounting? Corporate accounting is a specialist branch of accountancy that deals with the accounting for companies. A Liquidator in corporate matters will work closely with the accountant to advise and take action to rescue a business from insolvency or, if that’s not possible, close the company through liquidation. The …

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