Simple Liquidation blog

The rapid rise of cryptocurrency and digital assets has changed the financial landscape, and now it is reshaping insolvency and bankruptcy too. Over the past five years, the number of insolvency cases involving crypto assets in the UK has grown by an astonishing 420%, according to the Insolvency Service. In response, the Service recently appointed its first dedicated crypto asset specialist to trace and recover digital assets in insolvency proceedings. This surge reflects a new challenge for insolvency practitioners, regulators and company directors alike. As more businesses and individuals hold value in cryptocurrency, a pressing question arises: are crypto assets considered “property” in insolvency? Two landmark UK cases, AA v Persons Unknown (2019) and Ion Science Ltd v Persons Unknown (2020), have helped establish the legal framework for answering that question. In this article, we explore how the courts have approached crypto assets, what these rulings mean in practice, and how in...

If you’re considering closing your company or dealing with business debt, chances are you’ve come across the term “insolvency practitioner” or IP for short. But what exactly do they do, and how are they regulated? In this blog, we’ll walk you through the key responsibilities of insolvency practitioners, how they are licensed, what standards they must follow, and why it’s so important to choose the right one. Whether your business is facing financial difficulty or you’re just weighing up your options, understanding the role of an IP can help you make the best decisions for your situation. What Is an Insolvency Practitioner? An insolvency practitioner is a qualified professional authorised to handle formal insolvency processes in the UK. This includes dealing with both solvent and insolvent companies, as well as individuals who may be facing personal bankruptcy. In simple terms, an insolvency practitioner steps in when a business or person cannot pay their debts and needs legal and struc...

When a company is no longer able to pay its debts and financial pressures continue to build, directors often feel overwhelmed by the responsibility of making the right decisions. A Creditors’ Voluntary Liquidation (CVL) is one of the most common and responsible steps a director can take when a company becomes insolvent. It protects creditors, reduces the risk of wrongful trading, and ensures the business is wound down in a legally compliant way. At Simple Liquidation , we specialise in guiding directors through this process with clarity, professionalism, and complete transparency. Clear, Practical Guidance from Licensed Insolvency Practitioners Simple Liquidation was designed to provide directors like you with a quick and straightforward route to liquidate a company. Our team is not a broker or intermediary; we are an experienced group of insolvency professionals led by Jamie Playford FABRP MIPA and Alex Dunton MABRP, both licensed to act in the UK by the ICAEW and authorised by the In...

When a company goes into liquidation, directors are often left wondering what happens to the contracts and lease obligations they’ve signed while trading. Whether it’s a commercial lease, supplier agreement, or equipment finance deal, these commitments can feel like a weight hanging over you. Understanding how these are handled is an important part of the liquidation process. This guide breaks everything down in clear terms and explains how the team at Simple Liquidation helps directors navigate this complex area with confidence. What Is Liquidation? Liquidation is the formal process of closing down a company and distributing its assets to creditors. There are two main types: Creditors’ Voluntary Liquidation (CVL) – where directors choose to close an insolvent company Compulsory Liquidation – where a creditor forces closure through court proceedings Once liquidation begins, a licensed insolvency practitioner is appointed to take control of the company. That includes managing contract...

When a business as well-established as Premier Group Recruitment enters administration, it raises plenty of eyebrows. Known for supplying tech, engineering and creative staff across the UK and US, the company had grown over several years and operated in highly active sectors. So, how does a business like that end up in financial trouble with almost three million pounds of debt? In this blog, we will break down what led to the fall of Premier Group Recruitment, what the administration process means, and how other directors can learn from the situation. The aim here is not just to discuss what went wrong, but to offer guidance to any business owner who might be seeing early warning signs in their own company. A Quick Overview of Premier Group Recruitment Premier Group Recruitment specialised in providing skilled professionals across IT, engineering and creative industries. With offices in Reading, London, Manchester, Birmingham, and even New York, the business had a strong geographical r...