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Practical advice to ensure positive outcomes for Directors

Get advice early and assess your options

Take advantage of our free initial consultation and assessment to find out where you stand legally and what your options are.

All part of our service

It’s sometimes hard to know where to turn or who to trust for advice when creditors, HMRC or the bank are pressurising for payments and the cash just isn’t there.

Honest, objective and experienced advice is all part of the service we provide.

We’ll take action to give you the breathing space you need to gather your thoughts and plan your course of action.

We’ll advise you of your legal responsibilities to ensure you don’t become personally liable for the debts of the company.

We’ll advise you on the practical options you have for resolving the problems and moving forward with the comfort that the legislation has been complied with.

We’ll guide you through the pitfalls and advise on the procedures necessary to ensure you come out the other end intact.

We’ll advise on your options going forward to include how to legally use the company liquidation process to leave the old debt and liabilities in the old insolvent company and start a new debt free phoenix company that can even purchase and utilise the assets of the old company.

We’ll provide up-front costs so you know where you stand and advise on what costs can legally be paid through the Company.

For more information on our Advice for Directors service or if you would just like an informal chat email us here and we will channel your enquiry to the most appropriate advisor.

Pitfalls to avoid

A Director of any company has a fiduciary duty to act in the best interest of the Company at all times.

If you continue to trade, when the Company is ‘insolvent’ you could become personally liable for the debts of the company. A company may be insolvent if it is unable to pay its debts as they fall due, its assets are less than its liabilities or it has an unsatisfied judgement or statutory demand.

A Director of an insolvent Company may face proceedings in the following instances:

Wrongful trading
Fraudulent trading
Preferential payments to creditors
Undervaluing transactions on Company assets
Misfeasance (inappropriate action or intentionally incorrect advice)
Re-use of the Company name

There are procedures to be followed to ensure Directors don’t fall foul of the liquidators report to the DTI on the conduct of the Directors of the Company. An adverse report can result in disqualification proceedings.

Wondering what to do next?

Simply make contact here.

To request a call back to arrange an appointment or if you would just like an informal chat email us here and we will channel your enquiry to the most appropriate advisor.

Remember there’s absolutely no cost for initial consultations and assessments. We look forward to hearing from you.