News and Blog
What's happening in the world of insolvency and company rescue
What is Members’ Voluntary Liquidation?
A company does not have to be insolvent in order to be placed into liquidation. Shareholders can choose to place a Company into a Members’ Voluntary Liquidation (MVL)
Posted: 25/04/2024
What Is A Creditors Voluntary Liquidation (CVL)?
A Creditors Voluntary Liquidation (CVL) is a voluntary process whereby the directors and shareholders of an insolvent business can place the company into liquidation.
Posted: 08/04/2024
Personal Guarantees
- What is a Personal Guarantee?
- Before Making a Personal Guarantee
- Repayment Options
Posted: 12/03/2024
The Queen’s Portraitist who Stole £50,000
- Who is Darren Baker?
- Misconduct
- Implications of Being Disqualified as a Director
Posted: 21/04/2023
Understanding Director’s Loan Accounts
- What is a Director’s Loan?
- Lending Your Company Money
- Overdrawn Director’s Loans
- Loan Accounts and Liquidation
Posted: 26/02/2023
Repayment of Bounce Back Loan and Bounce Back Loan Scheme Abuse
- What is a Bounce Back Loan?
- What are Bounce Back Loans for?
- Repaying a Bounce Back Loan
- Bounce Back Loans and Insolvency
- Misconduct
Posted: 19/01/2023
First Bounce Back Loan Criminal Conviction
On Friday 24 June 2022, The Insolvency Service obtained their first criminal prosecution for Bounce Back Loan fraud against Mr Abdulrazag Zagroba.
Posted: 05/08/2022
Abuse of The Bounce Back Loan Scheme
Last month the Times featured an article about how “suitcases filled with cash from taxpayer-backed Covid loans were seized at the border as people tried to smuggle them out of the country.”
Posted: 01/06/2022
Employee Claims In Insolvency - Part 2
Following the recent case of Palmer v Northern Derbyshire Magistrates' Court where the Administrators were facing criminal prosecution through failure to file a HR1 form; now would be a good idea to produce a two part blog on Employee Claims.
This is the second blog and it will look at the obligations of employers to consult with their staff when facing potential redundancies...
Posted: 19/04/2022
Employee Claims In Insolvency - Part 1
Following the recent case of Palmer v Northern Derbyshire Magistrates' Court, where the Administrators were facing potential criminal prosecution through their failure to file a HR1 form; now would be a good idea to produce a two part blog on Employee Claims. This is the first blog and it will deal with what claims the employees have...
Posted: 08/04/2022
Employment Law v Insolvency Law – Who Wins?
There has always been a conflict between insolvency law and employment law, each with their own rules, and differing priorities. This is particularly so in respect of Administrations, where whether or not to pre-package a sale continues to divide opinion.
Posted: 24/01/2022
Purnells Have Done It Again!
We have been awarded ‘Best Insolvency Advisory Boutique Firm 2021’ in the UK Finance Awards 2021…
Posted: 17/01/2022