Simple Liquidation blog

Company insolvency is not an easy situation to deal with; what’s also a difficult decision is deciding which route to take to resolve the situation. Is it better to liquidate the company and use its assets to pay back creditors? Alternatively, if the company is worth saving, is administration a better option to give your insolvency service time to source a buyer for the business? Making a choice between liquidation vs administration is always a decision that should be discussed with your insolvency practitioner who will be able to give you an unbiased opinion. But understanding the two options and what they involve will help you.

 Having to admit insolvency and face liquidation is not easy for any company director. No liquidation process is easy but what will make the process simpler is professional liquidation solicitors. When entering into a CVL (Creditors Voluntary Liquidation) or an MVL (Members’ Voluntary Liquidation) process, it must be handled by a licensed insolvency practitioner (IP) in accordance with the Insolvency Act 1986. Liquidation solicitors, like Simple Liquidation, have a team of IPs that are able to manage the entire procedure, keeping it simple and guiding you at every step. READ MORE

Debt is not an easy matter to deal with. The last couple of years have possibly been the hardest for many businesses, large or small, due to the impact of the coronavirus pandemic. Sadly, for some business owners, it’s difficult to see a way past the debt and into recovery. Being in debt, whether it’s full insolvency or just excessive debt, needn’t be the slippery slope to liquidation.  Seeking professional advice from an insolvency practitioner is the first step to business recovery; it could be the difference between closing the business and coming out the other side of debt and thriving in the future. What are business recovery services? One of the tasks of an insolvency practitioner (IP), when assessing a business’s financial debt situation, is to see if the business can be rescued from insolvency and liquidation. Their experience and knowledge helps them advise company directors about potential business recovery plans that can help them recover. READ MORE