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

Monthly Archives: March 2020

Urgent payment to HMRC – much needed funds!

27 March 2020: We are dealing with a Company Voluntary Arrangement (“CVA”) and are holding significant funds due to be distributed in the future to the creditors in this instance. A CVA is a contractual agreement with creditors with numerous terms and conditions attached. The major creditor in this matter is HMRC, whose claim...
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Block adjournment of winding-up petitions

25 March 2020: On 23 March 2020, an Insolvency and Companies Court Judge set out the Court’s emergency response to managing winding-up hearings during the current lockdown. It was decided that the general winding-up list cannot presently be conducted remotely and that existing winding-up petitions should be adjourned to ensure the safety of all....
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Not so fast…

19 March 2020:  There were of course a raft of changes announced in the new Budget on 11 March but one of the more significant in our line of work was that the partial return of Crown preference will be delayed to 1 December 2020.  This had been expected to come in to force for...
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Buy Cheap, Buy Twice?

12 March 2020: Contact was made with our Milton Keynes office by the director of a Company who had been placed into solvent liquidation more than two years prior. For those not in the know, a solvent liquidation is known as a Members’ Voluntary Liquidation (“MVL”) and, here at BRI, we generally aim to...
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BRI Northampton Annual Quiz

9 March 2020: A great evening was had by all at BRI’s annual quiz, which was held at the Marriott hotel in Northampton on Thursday 5 March 2020. We had yet another amazing turn-out with 36 teams of 4 taking part. After an hour or so of testing questions, a music round, a couple of picture...
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Directors’ duties cease on insolvency – or do they?

4 March 2020: In the recent matter of System Building Services Group Limited (in liquidation) the Court confirmed that a director’s fiduciary duties continued after the appointment of an administrator or liquidator and the subsequent purchase by the sole director/shareholder of a company asset from the office holder was held to be in breach...
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