Articles Category: Bankruptcy - ArticlesMarketing.Net- Article Directory

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Actions Directors can take aginst Winding Up Petitions By : Derek G Cooper More recently, creditors have started to use winding up petitions specifically as debt collection tools. Rather than issuing a county court judgement which could then be ignored, creditors are choosing to issue the winding up petition because of the immediate pressure that this puts on the company to pay the outstanding debt. Given these serious implications, as a company director, it is very important for you to know what actions you can take. Business Phoenixing - Is a Pre-Pack a practical way to avoid company failure? By : Derek G Cooper With the continuing economic downturn, more and more businesses are finding it difficult to continue trading. In this economic climate Phoenixing or Pre-Pack Administration would would remove the burden of historic debts and allow business to continue to trade. Self employed and in financial difficulty - 4 options to solve your debt problems By : Derek G Cooper For self employed or sole traders it is quite usual to help your business with personal borrowing. This is great while the business is going well. However in poor economic conditions if the business struggles this can lead to individuals with large personal debt problems which they cannot afford. Here are 4 options to help resolve this situation. Creditors more realistic about Company Voluntary Arrangement (CVA) By : Derek G Cooper A Company Voluntary Arrangement (CVA) has hit the headlines again with outdoor and leisure retailer Blacks trying to agree one with its creditors. This provides more evidence that creditors understand the value of a CVA in the business turnaround of a struggling company. Resolving directors personal debt problems with Debt Management By : Derek G Cooper The directors of small businesses often build up personal debts because they have borrowed money in their own name to invest into the business. If the business subsequently fails, the director will be responsible for this debt and often find themselves struggling with personal debt which they cannot afford to repay. Solving Directors Personal Financial Difficulties with an Individual Voluntary Arrangement (IVA) By : Derek G Cooper Business Turnaround Solution help solve corporate debt problems. But what can be done to help Directors who have got into Personal Financial Distress using their own money to support the business. We look at how an Individual Voluntary Arrangement can help directors out of personal debt problems. I have a Statutory Demand - What does this Mean? By : Derek G Cooper If you have received a statutory demand, you have three weeks in which to respond to it. There are basically four options depending on your business' circumstances, which are explained in this article. Why critics of Phoenixing or Pre-pack liquidation are wrong By : Derek G Cooper Pre Pack liquidation or Phoenixing has been much maligned over that last year. Under closer examination I believe the arguments against are based on false assumptions. How to do a pre pack liquidation or phoenix By : Derek G Cooper You may be considering simply cutting your losses and closing your business. However the business idea and certain elements of the current business may still be viable. A pre pack liquidation (commonly known as the Phoenix process) allows a new company to be formed using the viable parts. Follow this process below. How to do a Company Voluntary Arrangement By : Derek G Cooper If your company is under serious pressure, but if the historic debt was removed, the business remains viable, then a Company Voluntary Arrangement (CVA) could be the answer. There are a number of steps you need to follow. Liquidation - how do I close my company? By : Derek G Cooper If you are looking to close your company, then this article describes the process you will need to go through in order to liquidate it. Can a landlord seize goods in lieu of rent? By : Derek G Cooper How can you protect yourself against the legal right of landlords to seize goods of a defaulting tenant. Avoid Company Bankruptcy (Liquidation) using Business Refinancing By : Derek G Cooper In the midst of an economic downturn, many companies find themselves at risk of failure because they do not have enough cash to maintain their day to day business activities. High Street banking institutions are currently extremely reluctant to lend because of their huge bad debt risks. In the face of this there are alternative funding options which should be considered which are collectively known as business re-financing. Avoid Company Bankruptcy (Liquidation) using a Pre-Pack or Phoenix By : Derek G Cooper If your company is in significant financial difficulty you may be looking at closing (or liquidating) the business. If you believe the business idea is a good one then an option is to instead look at a Pre Pack Liquidation or Phoenix. Company Voluntary Arrangement (CVA) used to prevent Company Bankruptcy (Liquidation) By : Derek G Cooper Before deciding to liquidate your company, it is worth considering whether there may be a possibility of Business Turnaround. One option you can consider is a Company Voluntary Arrangement (CVA). Winding Up Orders now used to aid Debt Collection By : Derek G Cooper Historically, winding up was initiated by a creditor because they believed that a company was not able to pay its debts. Over the past 12 to 18 months I have seen an increase in creditors using winding up petitions to force creditors to pay outstanding debt. Ways to help cash flow in difficult economic times By : Derek G Cooper One of the main reasons for business failure during recession is late or non payment of debts. If you are struggling to persuade your customers to pay, there are a number of actions you can take to get them to part with their cash. Pre Pack and Phoenixing - Tips to ensure pre pack success By : Derek G Cooper Undertaking a business pre pack liquidation is by no means a recipe to ensure that the new phoenix business will be a success. Following the tips below will help get off to the best start possible. If a customer has a Company Voluntary Arrangement (CVA), how can we collect the debt owed to us? By : Derek G Cooper Unfortunately, with the difficult trading conditions in which many companies are struggling with, the use of procedures such as company voluntary arrangements is likely to become increasingly common. This is bad news for creditors who will find themselves with unpaid accounts. 3 Options for raising Business Finance through invoice factoring or discounting. By : Derek G Cooper In the current economic downturn with many banks' unwillingness to lend, businesses are finding it difficult to raise money to finance their activities. Using one of three variations of Factoring and Invoice Discounting can allow a company to improve its cash flow. I have a Winding Up Petition - What Does this Mean? By : Derek G Cooper If you receive a Winding up Petition, this could have very serious consequences for both you and your business. It is therefore very important to understand what a Winding up Petition is and the implications of receiving one. Company Liquidation need not be the end of life By : Derek G Cooper If a company is struggling financially partly due to outstanding debts, the directors may decide the best action is to close the business. However there is nothing to stop a director starting up a new company and buying relevant assets from the liquidator to make it a going concern.