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BRI Business Recovery and Insolvency

We are an independent company of insolvency practitioners committed to finding the right solutions for businesses and individuals in financial difficulty

Monthly Archives: December 2018

Make sure you are actually solvent before making such a declaration

21 December 2018:  A recent High Court case, LRH Services Limited (in liquidation) v Trew and others, serves as a useful reminder to directors that a declaration of solvency should not be made unless the board are satisfied that their opinion on the company’s solvency has been properly formed. In this case, the liquidator of LRH...
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‘Tis the season of goodwill to all men… not just some

14 December 2018:  When a company is in a formal insolvency process, such as a liquidation or administration, the directors could be criticised for allowing certain transactions to take place in the period leading up to the liquidation.  For example, a payment to a connected creditor, within 2 years of the liquidation, at the time...
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He’s only gone and banked it!

12 December 2018:  BRI Business Recovery and Insolvency’s Northampton office held their last networking event of 2018 with their Christmas lunch at the Church Restaurant. The event finished with a game of “heads and tails” with the chance to win a Christmas hamper, which was duly won by Mark Charteress of Handelsbanken who collected his prize...
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Insolvent company dissolved – is that the end?

10 December 2018:  As you would expect, HMRC present more compulsory winding-up petitions against insolvent companies in England and Wales than any other creditor. In recent months BRI have noticed a sharp increase in winding-up petitions being presented by HMRC against dissolved companies with the intention of them being restored to the register and then placed...
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HMRC accused of being unfair to taxpayers by the House of Lords

6 December 2018:  In 2016, HMRC were given greater powers to tackle tax avoidance and evasion. A recent report issued by the House of Lords claims that HMRC are undermining the rule of law and justice as they are failing to reach a careful balance between clamping down on tax avoidance and aggressive tax evasion...
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