Insolvency Help

The Company Strike Off process is a way of formally dissolving a company, this is also referred to as Company Dissolution. A voluntary company strike […]

In the UK, directors have a responsibility to manage their companies properly and watch out for any signs of financial trouble. If they fail in […]

The use, or misuse, of bounce back loans has been a hot topic of late with vastly different positions being taken by directors.  Some have […]

What is a Creditors’ Voluntary Liquidation? Creditors’ Voluntary Liquidation (CVL) is the process where the Directors of an insolvent company can voluntarily take steps to […]

Introduction Independent Business Reviews (IBRs) are often requested by a lending bank when a company looks to be in some form of financial difficulty.  They […]

Introduction There are 2 ways a company can go into liquidation.  The first and most common way is voluntarily, by the directors and shareholders – […]

Administration is a formal insolvency process which places a company under the control of an Insolvency Practitioner and the protection of the court.  A ‘Notice […]

Directors have a legal duty to ensure that their company is not trading whilst insolvent.  But what does “trading insolvent” really mean, and how can […]

If a company is insolvent and needs to be closed then typically the directors and shareholders will decide to take the company into a creditors voluntary liquidation (CVL). Otherwise known simply as “voluntary liquidation” this is where a licenced insolvency practitioner will be appointed as Liquidator (following resolutions passed firstly by shareholders and then by creditors) over the company.

We’re often asked about the difference between Liquidation and Administration and when one should be used over the other. Here we cover the main differences between the two formal insolvency procedures,