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

News

  • Further update on winding-up petitions

    9 April 2020: Winding-up hearings are no longer being adjourned: The Insolvency and Companies Court has responded rapidly to the current situation and intends to progress with winding-up hearings remotely, either by telephone or video call applications, as opposed to adjourning them. Whilst it is the petitioning creditor’s obligation to…
  • COVID-19 and cash flow

    8 April 2020: During these unprecedented times, cash flow management is key for businesses to survive. Collecting the outstanding monies owed to the company may be a struggle as so many businesses are going to be impacted. However, stringent planning is required where future output is going to reduce due…
  • Covid-19 and director’s loan accounts

    2 April 2020: A director's loan account records the amount of money that is owed to the company by its director(s) or vice versa. When a company is facing financial difficulty due to a loss of customers, increase in payment demands that the company cannot afford to pay or other…
  • 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…
  • 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…
  • 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…
  • 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,…
  • 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…
  • 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…
  • Trust me, I’m an Insolvency Practitioner

    19 February 2020:  With Members Voluntary Liquidations (“MVL”) (solvent liquidations), making up a significant proportion of the formal appointments currently being taken across the 6 BRI offices,  we often find ourselves pitching against low fee quotes found on the Internet. A recent e-mail received from a competitor by a referring…
  • Location, Location, Location

    14 February 2020: A company with a long trading history in the Milton Keynes area was recently referred to us due to mounting cash flow issues. During an initial meeting with us it became apparent that a liquidation process was, unfortunately, the most suitable way forward for them. So, what…
  • An early Valentine’s Day poem

    4 February 2020: Roses are red, grass is green, after 11th of March, Entrepreneurs’ Relief may no longer be seen. The next Budget will be held on 11 March 2020 and it is expected that the Government will deliver on its manifesto commitment to review and reform Entrepreneurs’ Relief. This…
  • Another blow for the retail sector

    30 January 2020:  According to retail sector analysts, in the UK there have already been almost 10,000 retail job losses in 2020. It is forecasted that job losses in the retail sector this year are expected to rapidly increase. The retail sector, which employees around 3 million people, reported that…
  • Flybe or Fly-not-to-be – should taxpayers bail out private firms?

    23 January 2020:  The Government’s stance on assisting private firms in financial difficulty remains steadfast: they don’t.  Flybe is one of the most recent possible failures in the news right now. The Government’s most recent election manifesto was to help the UK stay connected, especially outside of London.  As Flybe…
  • Have you considered the IP? (being Intellectual Property of course)

    15 January 2020: Intellectual property rights can be amongst the most valuable assets owned by a business. This class of asset is extremely sensitive to the threat of insolvency and presents an insolvency practitioner with a number of complex challenges when attempting to preserve the integrity of the asset. Often…