What is ...?

The world of insolvency is a complex blend of law and financial terms which can be confusing for the layman.  Many people are simply asking questions about how they may be affected by an insolvency event.  Perhaps a supplier has told you that they have gone into liquidation or administration, you have received a letter through the post as your business is in debt and the HMRC are threatening to take action against you.  It might simply be the case that a beloved brand has gone into administration or even a football club. 

In these guides we aim to answer typical questions like "what is a validation order", "what is directors disqualification.

What is a Validation Order?

My bank account has been frozen and I have been told I need a validation order...

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What is a Zombie Company?

Zombie companies - Are they holding back UK economic growth?

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What is a Statutory Demand?

A statutory demand is a written claim for a debt against a company or individual...

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Football Creditors Rule

If a League football club faces an insolvency process such as a winding up...

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What is an HMRC Distraint Notice (Notice of Enforcement)

A Notice of Enforcement (previously distraint) is where HMRC has lost patience...

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What is walking possession? (taking control of goods)

'Taking control of goods' is a legal term used by the enforcement department of...

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What is crowdfunding?

Crowdfunding is equity investment-based and is usually a way to raise capital...

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What is an independent business review | IBR?

An independent business review IBR is when the banks will put in accountants to...

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Invoice Discounting and Finance - How does it work?

Invoice Discounting or Invoice Finance

Invoice discounting is a process where...

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What is a provisional Liquidator

In Scotland, a provisional liquidator, who needs to be a licensed insolvency...

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What is a phoenix company or pre pack liquidation?

A phoenix company typically starts out after the previous business has been put...

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What is TUPE? How does it apply in pre pack administration

TUPE stands for Transfer of Undertakings (Protection of Employment). Generally,...

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wrongful trading sign

Wrongful trading and fraudulent trading: What’s the difference?

Wrongful trading is where an insolvent company has continued to trade in a way...

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