We have offices in Northampton, Banbury, Coventry, Hitchin, Milton Keynes and Spalding

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

Yearly Archives: 2019

BRIEFS Ladies Christmas Networking Lunches

23 December 2019:  This year we held four BRIEFS ladies Christmas networking lunches, with Hitchin (pictured) hosting the last of the events on Tuesday 17 December 2019. The festive lunches were hosted in Coventry, Hitchin, Milton Keynes and Northampton and they went down a treat with the exceptional professionals in those areas. Best wishes for Christmas from...
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Court approves the use of liquidation as a debt collection method

19 December 2019: The Insolvency and Company Court of England and Wales recently held in Sell Your Car With Us Ltd v Anil Sareen that when a debtor fails to comply with a statutory demand and has no arguable case to dispute a debt, a winding up petition (initiation of liquidation proceedings) is appropriate, despite...
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Beware of the dangers of a winding up petition

16 December 2019:  Many company directors will have some experience of receiving demand letters from creditors, this can sometimes lead to county court judgements and, in more extreme cases, the company receiving a statutory demand followed by the service of a winding up petition. It is important to understand that being served a winding up petition...
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Recovery in shots in golf – recovery in business

11 December 2019:  For all that play golf, hitting the ball off track and into the rough calls for a thoughtful recovery shot to get back on the fairway. Simply hitting and hoping for the best is, generally, not the best option.  The same thoughtful process is required when a company’s financial position is “in...
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What is the difference between bankruptcy and insolvency?

2 December 2019:  Bankruptcy in the United Kingdom only applies to an individual, Katie Price being one of the most recent celebrities declared bankrupt. Unlike the United States, partnership entities or limited companies do not become bankrupt. Insolvency, on the other hand, is a global term that is used to describe all types of financial...
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Official Receiver aces Boris Becker

20 November 2019:  Former world number one tennis star Boris Becker was out-served by the Official Receiver in a recent announcement.  A 12 year bankruptcy restriction undertaking was entered into due to suspicious transactions valued at over £4.5m both before and after his bankruptcy proceedings commenced. Bankruptcy restrictions usually last 1 year and can be extended...
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Compensation from Disqualified Directors

13 November 2019: The Company Directors Disqualification Act 1986, a staple of the insolvency world which may not be widely recognised outside of it, was amended via legislation coming into force on 1 October 2015, later supported by the Disqualified Directors Compensation Order which came into effect on 30 November 2016. I am sure the...
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Alternative lenders – is it a wise move?

6 November 2019:  The BRI Business Recovery and Insolvency offices are experiencing a marked increase in queries from companies who have obtained loans from alternative lenders, taken out to assist them with their short term cash-flow issues and also for the payment of liabilities to HMRC that have built up over time. These funds are...
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Nearly half a million businesses in financial distress

1 November 2019: It has been reported that just under 500,000 UK businesses are facing significant financial distress - areas that have been impacted include property, construction and real estate. The retail sector and the high streets have been severely affected in the past few years. The e-commerce retail division is now also feeling...
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Overhaul of airline insolvency process

28 October 2019: In the wake of the recent high profile collapse of Thomas Cook and the demise of Monarch Airlines in 2017, new legislation is to be put forward to reform the airline insolvency process in order to protect and repatriate passengers more effectively. The Airline Insolvency Review was set up by...
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A Stitch in Time Saves Nine

9 October 2019:  Our Spalding office were recently approached with respect to assisting a company who make and fit curtains for both private and larger commercial properties. The company contained dedicated staff with specific skill sets tailored to the particular line of trade, unfortunately however, orders were drying up and had become insufficient to sustain the...
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Too good to be true?

3 October 2019:  BRI Business Recovery and Insolvency’s Northampton office were called with a query whereby the advice already received from an unregulated advisor appeared to be “too good to be true”. A summary below of the issue, advice received from the unregulated advisor and BRI’s subsequent advice: The issue: Company had ceased trading, no assets...
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