A week or so ago, we posted about being careful taking advice from unlicenced insolvency advisors. As they say, timing is everything, and on 15 July, The Insolvency Service published details of such an advisor being wound up by the court in the public interest.
At PBC, we are aware some directors fear approaching an insolvency practitioner as they hear stories of the ramifications a director faces. To the contrary, an insolvency practitioner will advise you of your options, duties, and will discuss potential issues with you. Those who chance engaging an unlicensed advisor merely promote the likelihood of allegations of a breach of duty where personal liability for any loss suffered may arise.
If you need any advice or assistance on any corporate restructuring or insolvency-related issue, then please contact PBC Business Recovery & Insolvency on 01604 212150 (Northampton), 01908 488653 (Milton Keynes) or email to enquiries@pbcbusinessrecovery.co.uk. Alternatively, visit www.pbcbusinessrecovery.co.uk for further information.