Purnells News & Blog

Chris Parkman, Licensed Insolvency Practitioner and Managing Director of Purnells, has been selected to be part of the TRI 250 for a second year in a row.

The Return of Crown Preference - On 11 July 2019

A Creditors Voluntary Liquidation is essentially an insolvent liquidation where the Company does not have the necessary funds to pay all creditors in full and the directors have decided themselves to place it into liquidation.

Continuing on from my latest series of blogs regarding HMRC and their greater powers to tackle tax avoidance a recent House of Lords Report on HMRC’s powers to tackle tax avoidance makes interesting reading.

Here at Purnells we have released our "new" Guide To Members Voluntary Liquidations...

Tax Abuse and Insolvency & What to Expect in the Future.

It always used to be the case that HMRC were a preferential creditor and as such were next in line to receive dividends after secured creditors.

This changed in 2002 under the Enterprise Act and HMRC agreed to become unsecured creditors and rank side by side with other unsecured creditors. 

In May of this year Purnells won the award for Corporate Restructuring & Insolvency Team of the Year at the Credit Awards 2018, the national award ceremony for the credit industry.

The placing of Carillion into Compulsory Liquidation on the 15 January 2018 has come as a shock to many, with a lot of people believing that Carillion was too big to fail.

This blog looks at the benefits and drawbacks of the different procedures to bring the life of your Company to an end.

Hello and welcome back for this week's blog.

This week we will be looking at potential problems that Directors of insolvent Companies run into in their final months of trading, which all liquidators have a statutory duty to recover.