Insolvency happens when companies or individuals’ financial obligations outweigh their assets. When companies are unable to pay off debts when they are due, they are insolvent. Many companies and individuals face insolvency each year. Some are able to quickly resolve the issue, whilst others are forced to take serious measures in order to deal with
Insolvency is the last thing a business wants to have to face, but sadly, it’s an all too common problem. A total of 4,308 companies entered insolvency in Q3 2018, including 3,083 creditor’s voluntary liquidations (71.6%), 741 compulsory liquidations (17.2%), and 484 other insolvencies (11.2%). But, if you’re facing insolvency, it doesn’t always have to
If you find your business in a state of insolvency, exposed to continual pressure from creditors, it may be time to consider a Company Voluntary Arrangement (CVA). You can keep trading while ensuring your creditors are reasonably repaid over time. But, there is a lot to understand. Therefore, this guide provides critical information about CVA