We have offices in Northampton, Banbury, Coventry, Hitchin, Milton Keynes, Southampton 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

  • HMRC with the upper hand

    24 April 2019: HMRC is claiming the direct recovery of debt powers (granted in March 2016) to recover money owed directly from individuals’ bank and building society accounts have raised £178m of tax revenue between April 2016 and December 2018. It is reported that HMRC only took action by removing…
  • Rack ‘em up

    17 April 2019:  The BRI Coventry office recently welcomed participants to their bi-annual pool tournament (held every Spring and Autumn) to do battle and establish which local professional was best with a cue in their hand. 32 players took their chances and the person with the most wins in the…
  • Debt Relief Orders (“DRO”) 10 years on.

    10 April 2019:  The insolvency Service has reported on the 10th anniversary of DRO. The Insolvency Service state that £2.3 billion worth of debt has been written off in DRO with 254,000 individuals successfully entering this procedure. The average level of debt per DRO is £9,400. A DRO is an…
  • It’s how you deal with matters that matter

    5 April 2019: At BRI Business Recovery and Insolvency, we pride ourselves in providing the right advice first time, every time even though the advice may not be what the recipient wants to receive. BRI’s Northampton Office are dealing with an insolvent liquidation whereby, prior to our formal engagement, we…
  • Ill health impacting businesses

    1 April 2019:  We have recently seen an increase in enquiries from businesses that are financially struggling due to the ill health of the directors and senior staff members. Due to health reasons these members have not been able to give the business the time and attention it needs. Recently,…
  • Staff success

    22 March 2019:  It is with great delight that we announce the success of Dan Smith in passing the Joint Insolvency Examination Board exams.  The two exams, one on personal insolvency and the other corporate insolvency, are sat once a year and test the boundaries of knowledge on all aspects…
  • Not always fair game

    19 March 2019: Our Spalding office dealt with a recent enquiry involving a company director who had incurred the wrath of gaming fans following an unsuccessful event, held for players of virtual games to experience something more akin to ‘the real thing’. The non-attendance of several staff members led to…
  • How many new tennis balls are used at Wimbledon each year?

    14 March 2019:  The above was the tie break question at BRI Business Recovery and Insolvency’s annual quiz held on 7 March 2019. With 37 teams attending, three teams scored the same number of points and the above question was asked to establish second and third place with HSBC beating Hewitsons…
  • Increase in company county court judgments (“CCJ’s”)

    8 March 2019:  It has been reported that there were 93,534 CCJ’s against companies in England and Wales in 2018, a 27% increase from 2017. The recording of a CCJ is, quite often, an early indication that all is not well on behalf of the recipient from a financial aspect.…
  • Case study – Partners of a partnership – full exposure

    5 March 2019: The Hitchin office has recently dealt with a two partner unincorporated partnership that is experiencing financial difficulty. The unincorporated partnership has assets which would only be sufficient to cover some of its liabilities. Therefore, as the partnership does not provide a limited liability to its members, the…
  • A sure thing?

    20 February 2019: The bankruptcy of the founder of the Layezy Racing Owners Club, Mike Stanley, has hit the headlines this week and has highlighted the risks involved with one particular form of “investment” that often goes unreported – betting syndicates. Mr Stanley was declared bankrupt upon his own petition…
  • A little helping hand

    15 February 2019: It is not uncommon for us to come across people who say they want advice on the financial position on their company when, in fact, they have already formed a view on their preferred solution. More often than not these solutions involve a process which would result…
  • Corporate Insolvency Q4 2018 Insolvency Statistics

    30 January 2019:  The above statistics have been released this week and a summary of the key findings for 2018 are below: Company liquidations increased by 9.7% to 14,269, the highest yearly total since 2013. Creditors’ voluntary liquidations totalled 11,152 (a 9.3 % increase) and compulsory liquidations totalled 3,117 (an…
  • Energy firms up in smoke

    17 January 2019:  Eight energy companies went bust in 2018.  That’s around 10% of the total number of firms.  Fortunately for the consumer, gas and electric supplies continue in these scenarios.  The energy regulator Ofgem will usually select a competitor to transfer customers to and credit balances are also protected.  …
  • Standing on Shifting Sands

    11 January 2019: When a company finds itself unable to pay its debts, the directors of that company should be alive to a shift in their duties. When a company is solvent, the director has a duty to maximise value for shareholders but, when a company is insolvent, the director’s…