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UK’s Second Largest City Birmingham Has Declared Itself Bankrupt; Here’s Why

In a move that has shocked many, Birmingham, the UK's second-largest city, has declared itself bankrupt. This announcement sent ripples across the nation, bringing to light the severe financial strain that local councils are facing. As insolvency experts, we’re here to unravel the complexities of this situation and explore why Birmingham has found itself in [...]

By |2023-11-28T05:55:46+01:00November 28th, 2023|Legal Updates|Comments Off on UK’s Second Largest City Birmingham Has Declared Itself Bankrupt; Here’s Why

Liquidating Assets in CVL: What Happens to Business Property and Investments?

Liquidating assets in a CVL (Creditors’ Voluntary Liquidation) is a significant step for any business. It marks the point when a company, guided by an insolvency practitioner, opts to bring its affairs to an orderly end. The process can be complex, involving the disposal of business property and investments to meet creditor claims. This article [...]

By |2023-11-20T17:33:42+01:00November 20th, 2023|licensed insolvency|Comments Off on Liquidating Assets in CVL: What Happens to Business Property and Investments?

Individual Voluntary Arrangement for Students: Dealing with Education-Related Debt

Financial stress is an unwelcome companion for many university students. With the increasing costs of tuition, textbooks, accommodation, and day-to-day living, it's not surprising that many students graduate with a significant amount of debt. While student loans provide an accessible way to finance studying, repaying them can be daunting, especially if you’re unable to secure [...]

By |2023-11-09T08:31:14+01:00November 9th, 2023|Legal Updates|Comments Off on Individual Voluntary Arrangement for Students: Dealing with Education-Related Debt

Individual Voluntary Arrangement and Self-Employment: Navigating Debt Solutions for Business Owners

Owning a business is a journey of highs and lows. For self-employed individuals, financial stability is as essential as the services they offer. Yet, there are times when debts become overwhelming, and a sustainable solution is needed. For self-employed professionals in the UK, an Individual Voluntary Arrangement (IVA) could be the answer. Specifically tailored for [...]

By |2023-11-09T08:23:10+01:00November 9th, 2023|Legal Updates|Comments Off on Individual Voluntary Arrangement and Self-Employment: Navigating Debt Solutions for Business Owners

Individual Voluntary Arrangement FAQs: Answers to Your Most Common Questions

Navigating through financial turbulence often leads individuals to seek strategic ways to manage their debts. An Individual Voluntary Arrangement (IVA) is a viable alternative for many within the UK, offering a structured path to address insolvency issues while maintaining a degree of financial stability. So, our expertise as licensed insolvency practitioners means we’re here to [...]

By |2023-11-03T19:16:35+01:00November 3rd, 2023|Business Rescue|Comments Off on Individual Voluntary Arrangement FAQs: Answers to Your Most Common Questions

Uncovering Fraudulent Activities: Understanding Fraud Under the Insolvency Act 1986

When a company enters into liquidation, it becomes more likely that cases of fraudulent trading might become known. The activities of a business are investigated once it enters into liquidation and as such, if the directors of a business have acted in an improper manner then this will come to light. Acting fraudulently deliberately is [...]

By |2023-10-23T20:44:49+01:00October 23rd, 2023|Industry News|Comments Off on Uncovering Fraudulent Activities: Understanding Fraud Under the Insolvency Act 1986

Individual Voluntary Arrangement and Homeownership: Protecting Your Property

There are a number of terms which are thrown around when debt and money trouble are discussed. One of the more common terms is an Individual Voluntary Arrangement (which is usually referred to as an IVA). An IVA is a formal and legally binding agreement which is formed between an individual and their creditors. Its [...]

By |2023-10-23T20:32:15+01:00October 23rd, 2023|Legal Updates|Comments Off on Individual Voluntary Arrangement and Homeownership: Protecting Your Property

Ensuring the Safety of Your Savings: Understanding the Bank of England’s Measures for Depositor Protection

Economic uncertainty seems to be a talking point quite a bit in the modern age and as such, if you have some savings tucked away for a rainy day, you are going to want to make sure that they are safe. In order to reassure people that their savings would be safe and keep everything [...]

By |2023-10-11T12:45:11+01:00October 11th, 2023|Legal Updates|Comments Off on Ensuring the Safety of Your Savings: Understanding the Bank of England’s Measures for Depositor Protection

Case Study: Wilko to Close ‘Majority of Stores’ with Loss of Thousands of Jobs

There are a number of businesses out there that have been struggling recently as the pandemic, the cost of living crisis and political uncertainty are making economic consistency harder to achieve. A well-known and much-loved company who is feeling these detrimental effects is High Street giant Wilko, who announced recently that they are set to [...]

By |2023-09-28T08:27:27+01:00September 28th, 2023|Industry News|Comments Off on Case Study: Wilko to Close ‘Majority of Stores’ with Loss of Thousands of Jobs

Unpacking the Collapse: Understanding the Factors Behind Tuffnells Parcels Express Bankruptcy and Its Impact on the UK Job Market

In what is proving to be an incredibly difficult year for businesses across the UK, the delivery company Tuffnells Parcels Express has recently declared bankruptcy. The company has collapsed as a result of fierce competition and a steady increase in costs which has made its means of doing things borderline impossible to keep up with. [...]

By |2023-09-25T12:37:41+01:00September 25th, 2023|Legal Updates|Comments Off on Unpacking the Collapse: Understanding the Factors Behind Tuffnells Parcels Express Bankruptcy and Its Impact on the UK Job Market
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