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

  • When things get personal

    17 October 2018:  A director does not generally have personal liability for the debts of a company. However, at BRI we are seeing that, increasingly, directors hoping to save a company from the brink, will frequently put their own assets on the line, in order for the company to receive…
  • SJN Motors

    UPDATE: 11 October 2018 SJN Motors Limited ceased to trade on Wednesday 10 October 2018. Customers  Please see below frequently asked questions: Is SJN Motors Limited permanently closed? Yes, the company ceased trading on 10 October 2018 with all employees being made redundant. The company is due to enter creditors’…
  • Seeking advice early is paramount

    3 October 2018: At BRI Business Recovery we always recommend that, if a company is experiencing financial pressure, early advice is sought which will enable all options of recovery to be considered and, hopefully, without formal engagement of BRI. BRI’s current internal statistics evidence that only 17% of enquiries result…
  • Companies House take action against directors for failing to file annual statements and accounts.

    27 September 2018: We have recently seen an increase in Companies House summoning directors to court for failing to submit confirmation statements under Part 24 of the Companies Act 2006. Directors need to be aware of the fact that failure to deliver up accounts and confirmation statements annually is an…
  • Paul Currie of DFA Law in his golf attire

    25 September 2018: BRI's monthly golf society was held at Overstone Golf Club and the course was in great condition. Paul Currie from DFA Law swept the board in respect of the prizes, winning nearest the pin and being the overall winner with 26 points. Yes, that is not a…
  • Six years of efforts paying off in the end

    20 September 2018: As the Trustee in Bankruptcy, we have recently sold twenty-nine acres of Welsh farmland, which was the primary asset in the bankruptcy estate. The process was not straightforward and it has taken six years of efforts to get to this point. The main difficulty arose because the…
  • Creditors’ Voluntary Liquidation – payment to fixed charge creditor within 4 days of appointment.

    17 September 2018:  BRI Business Recovery and Insolvency’s Northampton office have paid a company’s secured creditor under the terms of their fixed charge the sum of £50,000 four days after being appointed Liquidators. The payment represents the sum received from the sale of the company’s intellectual property. It is anticipated…
  • Government announces new powers to disqualify company directors

    13 September 2018:  The government has announced a number of new measures an attempt to improve corporate governance following a number of high profile large scale failures. One of the measures under consultation is to give the Insolvency Service the power to fine and/or disqualify directors who dissolve companies for…
  • Entrepreneurs Relief – an easy kill

    7 September 2018:  Headlines such as “Use entrepreneur tax relief cash to help fulfil NHS £20bn funding pledge, think tank says” (National Health Executive) might be further evidence that the days of this tax relief may now be numbered. Entrepreneurs relief (“ER”) is the driver behind most Members Voluntary Liquidations…
  • BRI – News from around the World

    31 August 2018:  If, like the author, you are interested to know if/when your business gets mentioned in the news, or there is something posted about it on the internet, you may find yourself being informed about things happening a long way from home. At BRI we quickly discovered that…
  • Helping those that help themselves.

    29 August 2018: BRI Business Recovery and Insolvency’s Northampton office are shortly to conclude a creditors’ voluntary liquidation after being appointed in December 2015. Prior to appointment, HMRC had issued a winding-up petition against the company with the director owing circa £100K by way of an overdrawn loan account. The…
  • What happens to a limited company when the sole shareholder/director dies?

    23 August 2018: The limited company is a legal entity and the shares will vest in the deceased’s estate. The executor of the deceased’s estate will be in a position to make decisions to realise the value of the shares. In the case of an owner/managed business, it can be…
  • Personal insolvencies rise – young men most at risk

    16 August 2018: The latest personal insolvency statistics released by the Insolvency Service reveal that personal insolvencies rose 4% from Q1 to Q2 in 2018 and are 27% higher than the same quarter in 2017. Personal insolvencies have been on the rise overall since 2015. Drilling down into the figures…
  • BRI rescue company in the retail sector

    8 August 2018:  The Milton Keynes office is pleased to announce that Tom Guthrie and Peter Windatt were appointed joint administrators of a company operating in the retail sector.   The administration involved a sale of the business and assets which has resulted in a continuation of the business, a new…
  • Retention of title – the devil is in the detail

    2 August 2018:  BRI Business Recovery and Insolvency, when acting as Liquidators or Administrators of a company, often deal with creditors who have supplied products to the company claiming retention of title (ROT). Often the products will have been sold in the normal course of business, therefore there is no…