Derek Cooper

What are Directors liabilities if you wind up the company?

Winding up is the forced closure of a company, and is a process normally started by one of the company's creditors because outstanding debts have not been paid. A review will be carried out by the liquidator on the actions of anyone who acted as a dire... Read >

Using winding up to get your debt repaid

Recent figures indicate that Great Britain moved out of recession in Q4 2009. Most people however believe that the recovery will be slow and prolonged. With a fragile recovery it is likely that creditors will continue to use winding up petitions as a w... Read >

Simple steps to liquidate your company

If your company is insolvent, before making the decision to stop trading and liquidate consider all of the rescue options available. However if closure is the only way forward, then appointing the right liquidator to protect the interests of the directors... Read >

If I declare bankruptcy, what happens to my company?

Bankruptcy can be an extremely effective way of dealing with a serious debt problem. However if you are managing a company there could be serious implications. We look at the issues for Directors and Sole Traders considering bankruptcy as a debt solution.... Read >

My company is in trouble, how do I avoid winding up?

Does it look like your company is in financial distress, with the only likely future being the failure of the business? Here are some practical steps you can take to turnaround the situation. Official figures may suggest that the recession is nearing a... Read >

How a company voluntary arrangement can rescue a business in financial trouble

For a company that is unable to pay its debts, the future looks bleak with the very real possibility of closure. This is where the business recovery process Company Voluntary Arrangement can be used save the company. Creditors agree to reduced payments ov... Read >

Pressurising debt collection with a winding up petition

Winding up petitions are increasingly being used in order to pressure companies to repay debt. This can backfire if the business ends up being wound up insolvent. It is becoming increasingly common for both business and individuals to issue winding up... Read >

Top tips to save your self employed business

A self employed business owner does not have the option of using various corporate debt solutions. As you remain personally liable for all debts incurred by your business, if your business is struggling you will need to use personal debt solutions. We dis... Read >

Company Voluntary Arrangement is one of the most affordable company debt rescue options

If your company is in trouble and you are looking for ways of preserving investment cash, a company voluntary arrangement could be a more affordable rescue solution than pre pack administration. If your company is in financial trouble and you are looki... Read >

Winding up - are the rules different for high profile companies like Portsmouth FC?

Every day, HM Revenue and Customs petition for the winding up of companies which are unable to pay their taxes. Generally they are closed without ceremony. No so for high profile businesses such as Portsmouth football club it seems. To all intents and ... Read >

Winding Up Petition can be bad news for your company

Winding up petitions are in the increase, particularly as a method of trying to help collect business debt. This is because of the pressure they put on the debtor due to the serious consequences they can cause. If you receive a winding up petition it is v... Read >

Business Rescue - the right time to use Pre Pack Administration

Pre Pack Administration (Phoenixing) is one of the Business Rescue solutions available to companies in financial trouble. However one solution is not always the right fit for every situation. We look at what pointers would indicate this is the right solut... Read >

Should I use a Company Voluntary Arrangement (CVA) to rescue my business?

A company voluntary arrangement could be the ideal business rescue solution. If your business is failing due to debt which you are unable to pay and you are spending your time juggling creditors rather than running your company. For a business in financia... Read >

Beware the HMRC making it difficult for Pre Pack Administration

Pre-pack administration or phoenixing can be a useful business rescue solution. However, businesses may be prevented from taking advantage of this option because of an HM Revenue and Customs requirement for a VAT deposit. If a business is in financial ... Read >

Pre Pack Admin or Company Voluntary Arrangement (CVA) - which is best if you have a loan from the co

Pre-pack administration is often an extremely good method of rescuing a struggling business, however where the director has borrowed money from the company, an alternative solution is to consider a Company Voluntary Arrangement (CVA). If your company i... Read >