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

Category Archives: News

And they all lived happily ever after…

19 August 2019: We were asked, by an accountant who knows trusts and likes us, to talk with a client who had hit a wrinkle along the road as a result of suing a client for work done and not paid for (at £6,000) who, in response, counter-sued for almost £85k. The client had...
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Let’s take a look at the menu

12 August 2019: A recent rescue enquiry gave our Milton Keynes BRI office opportunity to flex the grey matter with respect to finding a solution to the not uncommon issue of a company having both successful and unsuccessful elements to its business. The particular company ran cafés/restaurants and had two premises. One café was...
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Trying to be too clever

5 August 2019: BRI Business Recovery and Insolvency’s Northampton office dealt with a very unusual bankruptcy estate whereby it took two years for the aggrieved creditor to successfully make the individual bankrupt. It was some effort by the creditor as, when served with the petition, the bankrupt even claimed he was not him and that...
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Director disputes and insolvency

24 July 2019:  The Hitchin office has seen an increase in disputes between company directors/shareholders in owner managed businesses. Director disputes can put extreme pressure on a business and its financials; in some cases this can lead to the company falling into insolvency. When a company is insolvent, directors have certain duties and obligations. One of...
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Members’ Voluntary Liquidations

18 July 2019: Nobody sets up in business with the goal of putting their company into liquidation. A significant proportion of our clients have hit a bump in the road and need some corrective action to stay in business. However, at the other end of the spectrum are the successful entrepreneurs. Those whose business has...
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The Company is Limited but is my liability?

10 July 2019: Most company directors will have the belief that by setting up a limited company they will have set a limit on their own liabilities. However, a decision in a recent court case resulted in the directors of a company being found liable for creditor claims in tort due to their actions...
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HMRC claim small businesses owe £14bn in taxes.

2 July 2019:  We last reported that the government is proposing a two month breathing space to struggling debtors. It has now also been reported that small businesses owe HMRC £14bn in taxes. The amount of uncollected tax has hit £35bn, with small businesses accounting for the largest percentage of the tax gap at £14bn...
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Formal breathing space to be given to struggling debtors

19 June 2019:  The Government has announced proposals to help those struggling with serious debt by providing a new two-month “breathing space”, during which they cannot be pursued by debt collectors and bailiffs.  Those eligible will also see interest, fees and charges frozen.  All contact with a debtor relating to repayment demands would be prevented...
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Company in distress (but what about me?)

13 June 2019:  If a company is insolvent, a director has a fiduciary duty to act in the best interests of the company creditors. Human nature being what it is, this doesn’t exclude the director from feeling a sense of ‘but what about me’? First and foremost it is worth repeating that the duty of directors...
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It has taken a while but creditors receive a significant return…

3 June 2019:  BRI Business Recovery and Insolvency’s Northampton Office is to shortly conclude the administration of a very complicated and time consuming creditors’ voluntary liquidation. Having been appointed in early 2014, BRI are pleased to report that asset realisations have been such that unsecured creditors will receive a total sum of £475,000, which will equate...
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Loan charges – warning – HMRC takes action

23 May 2019:  It has been reported that six people have been arrested over the promotion of fraudulent schemes that were designed to avoid paying loan charges. Disguised remuneration loans received by employees that remain outstanding on 5 April 2019 are known as loan charges, on which HMRC have been asking for tax to be paid. The...
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