Insolvency for Limited Companies & Limited Liability Partnerships. | Phoenix and Co

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Insolvency for Limited Companies & Limited Liability Partnerships.

for free confidential advice call 01392 314 092

If the investigation we will conduct, free of charge, shows your business is still viable, your options will be one of the following:

1Informal Arrangements.
Made between Debtor and Creditor, not involving the use of formal processes, like Court Judgements, CVA’s or Liquidations for example.

2Refinancing.
We can help you by analysing your requirements, preparing a business plan, including budget & cash-flow and introducing you to potential lenders.

3CVA.
An insolvency procedure that allows a financially troubled company to reach a “binding” agreement with its creditors.

4 Limited Liability Partnerships
Insolvency for LLPs.

5Administration
Once an Administrator is appointed, the company is protected from action being taken by creditors, and cannot be wound up without the court’s permission.

6A “Pre-Pack” Liquidation
Is where the assets of a business can legally be sold at valuation to a New Company and the old business is liquidated. This procedure is often used in Administrations.

7Company Dissolution.
A process to voluntarily strike-off or dissolve (close) a dormant or a non-trading company.

If the investigation shows your business is not viable, your option will be:

1Liquidation.
A company is a legal entity, entirely separate from its Directors and Shareholders. A company “dies” when it is dissolved and is no longer on the Register of Companies.

Either way, act now, get professional advice, free, from Phoenix & Co.

Be aware, that if your business is insolvent, the law requires the Directors to act in the best interests of the creditors.

Rescue. Recover. Renew. For free advice:

Phoenix & Co, 1 Emperor Way, Exeter Business Park, Exeter, Devon EX1 3QS.

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