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

  • 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…
  • 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…
  • 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…
  • 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…
  • 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…
  • 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…
  • Individual Voluntary Arrangements (IVA) and Company Voluntary Arrangements (CVA)

    5 July 2019: The above are formal insolvency procedures to try and enhance the return to creditors and avoid bankruptcy for an individual and either administration or liquidation for a company. Both an IVA and CVA need significant thought and planning and will require the advice and assistance of a…
  • 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…
  • 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…
  • 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…
  • 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…
  • 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…
  • 120 jobs saved with CVA approved by 95% of creditors

    14 May 2019:  BRI’s Coventry office achieved recent success in getting a proposal for a Company Voluntary Arrangement (“CVA”) approved by 95% of creditors.  The company in question is a large local employer with a sound reputation and excellent prospects.  The company faced tough trading issues following a downturn in…
  • Company insolvency statistics – Q1 2019

    2 May 2019:  The Insolvency Service have released the above and below is a summary of their findings: The total number of company insolvencies were 4,187, up from 3,983 for the same period last year. 67.4% of all company insolvencies were creditors’ voluntary liquidations with compulsory liquidations accounting for 19.6%, these…
  • 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…