Insolvency
What is Insolvency?
Insolvency is split into 2 areas: corporate insolvency and personal insolvency.
Corporate insolvency is when a company or business can’t pay its debts and personal insolvency is when a person can’t pay their debts. Often there is an overlap of the two, for example, if a company cannot pay its debts which then impacts on the directors’ income and personal liabilities.
Our mix of strategies, to deal with any difficulties you are experiencing, will depend on whether you need corporate insolvency advice, personal insolvency advice or both.
Corporate Insolvency
We are able to provide tailored help and advice, for your situation, to enable you to find the best possible solution for you and your business.
There are a number of different forms of insolvency for companies and businesses including Limited Liability Partnerships (‘LLPs’) and similar structures:
- Company voluntary arrangement (‘CVA’)
- Administration
- Creditors’ voluntary liquidation (‘CVL’)
- Compulsory liquidation
There is also:
We are able to provide tailored help and advice, for your situation, to enable you to find the best possible solution for you and your business.
Contact us if you would like further information and assistance regarding any aspect of your business.
There is no charge for doing so and it is without obligation.
Personal Insolvency
At BRI, our dedicated and professional team will help guide you through personal insolvency and devise the best strategy to deal with any difficulties you are experiencing. The most appropriate for you or your client will depend on many factors.
There are a number of forms of personal insolvency:
- Bankruptcy
- Individual Voluntary Arrangement (‘IVA’)
- Debt Relief Order (‘DRO’)
- Partnership Voluntary Arrangement (‘PVA’)
- Partnership Administration Order
Contact us if you would like further information and assistance on personal insolvency or regarding any aspect of your personal financial situation.
There is no charge for doing so and it is without obligation.