On occasions practical solutions to a debtor’s financial problems are inappropriate or cannot be achieved, perhaps because of the intransigence of one or more creditors. In those circumstances it is often possible to achieve a settlement based on a formal offer of a Company or an Individual Voluntary Arrangement under Part 1 or Part VIII of the Insolvency Act 1986. We assist in the preparation of debtors’ proposals, make applications for associated protective Court Orders, assist with creditors meetings and modifications and undertake all steps necessary to obtain the necessary creditors’ approval.
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Directors’ Duties of Care and Skill During the Covid-19 Emergency – Where Now?
On 28 March 2020 Alok Sharma MP, the Business Secretary, with HM Revenue & Customs, the Insolvency Service and others announced intentions to amend insolvency law and relax wrongful trading laws during the current Covid-19 emergency. According to the press release: “Current insolvency rules stipulate that directors of limited liability companies can become personally liable […]