Directors Personal Guarantee in Liquidation
Directors Personal Guarantee in LiquidationLicensed Insolvency Practitioners With National Coverage
Worried Director? We Can Save Or Restructure Your Company.
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0800 9700539
We need some advice about our business cash flow problems. What do words like insolvent, liquidation, company voluntary arrangement (CVA) and pre-pack administration mean? We’re so worried can you help us?
Yes, you have come to the right place – This website provides FREE, CONFIDENTIAL online insolvency advice on what you should do in the best interests of your company. Alongside this professional advice, there are hundreds of simple guides to answer your business cash flow problems, as well as recent up to date industry news, to keep you informed.
We have 27 years of turnaround and insolvency experience. We are licensed Insolvency Practitioners, so we guarantee to help you find the best solution for your business. We offer tailored services, as we know each company has its own specific problems. Give us a call to find out how we can help you – we offer friendly and honest advice to directors, free of charge in the first instance.
Firstly, we gain an understanding of your company and your situation, including any legal actions that you might be facing. Next, we will follow up with a “strategy report”, in pdf format, setting out what actions you could take and advice on all options. This is something unique we do here at Company Rescue. If you decide to seek more assistance following this, we will collaborate and work with you, doing everything we can to save your company and help pay your business debts..
(Note that charges only start from when we start a course of action – the solutions report comes free of charge.)
A CVA or Company Voluntary Arrangement is a legally binding agreement with your company’s creditors which allows a proportion of its debts to be paid back over time. 75% of the creditors, by value, who voted need to support the proposal. We are experts in this rescue mechanism having done more than any other practitioner.
If the company is simply not viable and is causing you too much stress then often a creditors voluntary liquidation is the best course of action. This stops all legal threats and can lower your personal financial risk by stopping trading. We will liaise with your creditors and do all the necessary paperwork and you can then get on with your life.
This is more about the responsibilities of directors. We can check to see if your company is insolvent, we can look at complex group structures if necessary and advise the directors accordingly. If a company is insolvent then the directors have a legal duty to act. Talking to professionals like us shows that you are taking your duties as a director seriously.
A winding up petition is the most serious action that a creditor can take against your company. It could mean the end of the business if the court winds it up, unless you act fast. We can advise and even get petitions stopped if a rescue plan can be implemented. This could be a time to pay arrangement or a CVA
Administrations primary purpose is, in fact, the rescue of the company or to achieve a better result than liquidation. Administration is very powerful and can stop winding up petitions so the company can be saved in some form or sold
HMRC are often the biggest creditor in any business as directors tend to prioritise suppliers, landlords etc. However, if the tax debts get too big then there will be trouble. We can advise on getting longer term time to pay arrangements or a CVA if necessary. Ask us to arrange a time to pay arrangement with HMRC and your creditors. See this case study where we restructured the HMRC debt
Many of our new clients say:
“We wish we had met KSA Group sooner and acted more quickly!”
We are a fully accredited firm and licensed insolvency practitioners.
Read our comprehensive website packed with guides and advice. Some are shown below in our insolvency advice section. Alternatively call on 0800 9700539
Some Of Our Guides For Directors
Directors Personal Guarantee in Liquidation
Directors Personal Guarantee in Liquidation
Can I Liquidate My Company With A Bounce Back Loan?
Can I Liquidate My Company With A Bounce Back Loan?
Starting A New Company After Liquidation
Starting A New Company After Liquidation
Wrongful Trading and Fraudulent Trading Explained
Wrongful Trading and Fraudulent Trading ExplainedJust a quick note to say a big thank you to all the staff at KSA, our CVA was passed today by creditors voting in an overwhelming number including HMRC to accept the proposal as prepared by KSA.
Company name withheld
The road to reach today’s conclusion has been bumpy, but at each stage your team has supported and guided us through the issues and we have reached a very satisfactory outcome to the benefit of customers, staff, all creditors and shareholders.