How can a business protect itself from insolvency? Poppleton and Appleby partner, Stephen Wainwright discusses in his latest blog.
There are a number of warning signs that a company is in financial distress and action is required. Insolvency isn’t always avoidable but the chances of doing so are always improved if action is taken early and rapidly to give the company the greatest opportunity of trading its way out of difficulty. The warning signs can be singular but usually accumulate in a financially poisonous cocktail and it is important that directors and company accountants are prepared to recognise them. Creditor Action Many companies and businesses occasionally miss payments; however, if this begins to occur frequently, it suggests that a [...]
Directors are prohibited from utilising the same or similar business name for five years following a liquidation, subject to certain exceptions which can be found in insolvency legislation.
After almost 40 years of helping individuals to resolve daily problems arising in their business and personal lives I never tire of meeting people. I get excited at the prospect of hearing the story of their journey and the interaction of their personal and business lives.