The Role of UNCITRAL Model Law in UK Cross-Border Insolvency Cases

Insolvency and liquidation can be complex, and the global landscape often requires a nuanced approach to address cross-border challenges. The United Nations Commission on International Trade Law (UNCITRAL) Model Law has emerged as a crucial framework, providing guidelines for the recognition and enforcement of insolvency-related judgments in different jurisdictions. Insolvency, representing a financial state where [...]

By |2023-12-18T18:33:01+01:00December 18th, 2023|licensed insolvency|Comments Off on The Role of UNCITRAL Model Law in UK Cross-Border Insolvency Cases

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?

Maximising Recovery: Tips for Creditors in Insolvency Proceedings

It’s normal for organisations to find themselves in financial difficulty and when this happens, people who are owed money by said businesses are likely to suffer to some extent. This is especially the case when a creditor is unsecured as they are last in line to be paid once an organisation goes into liquidation. If [...]

By |2023-09-12T12:13:17+01:00September 12th, 2023|licensed insolvency|Comments Off on Maximising Recovery: Tips for Creditors in Insolvency Proceedings

Accounting and Reporting Requirements under the Companies Act 2006

The Companies Act 2006 (CA 2006) is the primary legislation governing the formation, operation, and dissolution of companies in the United Kingdom. The CA 2006 sets out a number of requirements for the accounting and reporting of companies. In the following article, we’ll take you through these requirements, which include the preparation of annual accounts, [...]

By |2023-07-31T09:20:36+01:00July 31st, 2023|licensed insolvency|Comments Off on Accounting and Reporting Requirements under the Companies Act 2006

What is an Insolvency Practitioner, and How Does It Differ from a Liquidator?

When a company finds itself in financial distress, it will likely consider enlisting the help of an insolvency practitioner. These can help organisations manage their current situation and provide a realistic route to get out of it. As a business owner, it is important that you fully understand what an Insolvency Practitioner can offer your [...]

By |2023-05-01T09:38:39+01:00May 1st, 2023|licensed insolvency|Comments Off on What is an Insolvency Practitioner, and How Does It Differ from a Liquidator?

What Can Be the Reasons for a Creditor’s Voluntary Liquidation in 2023?

Running a business can be tricky, and a lot of the time, organisations can find themselves in times of financial hardship. Similarly, there are a lot of organisations who decide to simply call it a day. One of the most popular methods that can be used when an organisation would like to stop trading is [...]

By |2023-05-01T08:51:18+01:00April 6th, 2023|licensed insolvency|Comments Off on What Can Be the Reasons for a Creditor’s Voluntary Liquidation in 2023?

Why Did Voluntary Insolvencies in England and Wales Hit a Record High?

The economy is always reasonably volatile; however, it seemed nobody was prepared for the impact of the pandemic on the country and the entire world. Organisations had to adapt and learn how to operate sufficiently in a world where all businesses had to start working from home and were unable to communicate with their customers [...]

By |2023-03-24T10:45:40+01:00October 24th, 2022|licensed insolvency|Comments Off on Why Did Voluntary Insolvencies in England and Wales Hit a Record High?

Why Choose an Insolvency Practitioner Instead of Making Direct Arrangements with Creditors’?

When you have debts and creditors are knocking on your door, it’s very tempting to try and make debt management arrangements directly with your creditors. In cases where the debt is quite small, and it’s just one creditor, entering into an informal debt arrangement, if the creditor is agreeable, could be worked out for you. [...]

By |2023-03-24T11:12:26+01:00August 2nd, 2022|licensed insolvency|Comments Off on Why Choose an Insolvency Practitioner Instead of Making Direct Arrangements with Creditors’?

How to Become a Licensed Insolvency Practitioner in the UK: Traits of a Good IP

Insolvency practitioners (IP) are in demand, particularly over the past few years. An IP is a professional authorised to act on behalf of an individual of a company – partnership, private or public limited – in insolvency and bankruptcy procedures as laid out in the UK’s Insolvency Act 1986. In most cases, an IP’s background [...]

By |2023-03-24T11:13:11+01:00June 23rd, 2022|licensed insolvency|Comments Off on How to Become a Licensed Insolvency Practitioner in the UK: Traits of a Good IP

All You Need to Know About the United Kingdom Insolvency Act 1986

The Insolvency Act 1986 was as law after the Cork Review Committee’s report on Insolvency Law and Practice in 1982. Prior to the report, insolvency issues were dealt with under as many as 50 different Acts of Parliament, such as the Bankruptcy Act 1914, the Companies Act 1948, the Deeds of Arrangement Act 1914 and [...]

By |2023-03-24T11:26:15+01:00April 5th, 2022|licensed insolvency|Comments Off on All You Need to Know About the United Kingdom Insolvency Act 1986
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