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Abusing a Winding up Petition

As everyone in business will appreciate, the phrase, “cash is king,” rings very loud when it comes to keeping your business going.  With many businesses across the UK fighting to
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Insolvency – avoid being a statistic.

As a business owner, put your hand up if you enjoy doing the administrative bits, the paperwork, the analysis of trade performance etc.  We wonder how many of those reading
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Insolvency and mental wellbeing.

Insolvency can significantly impact upon the mental health of individuals as a result of the stress, anxiety and uncertainty that is associated with financial difficulties.  Where someone is already suffering
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The cost of disputes?

Picture this.  There are two directors – one responsible for the day-to-day operations of the business while the other managed all contractual matters and the bookkeeping.  A dispute arises between
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Liquidation, Personal Guarantees, and Individual Voluntary Arrangement….

During  the summer of 2023 PBC Business Recovery & Insolvency were in discussion with a director whose company was to go into liquidation.  It became apparent that he had provided
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The liquidator says I owe the company

Have you been told you owe money to your company under a director loan account (“DLA”)? Sometimes directors follow a practice of borrowing from their company, only to extinguish that
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