Hello, and welcome to Insolvency & Law Business's Advice Show, the podcast dedicated to credit management, debt recovery, and insolvency in England and Wales.
Today’s episode is dedicated to vulnerable business owners and directors who need help and support to avoid insolvency, and company liquidation.
Are you a vulnerable company director or business owner struggling with the furlough scheme; or repayment of a Bounce Back, or CBILS loan?
If so, don’t panic. You’ve come to the right place.
This podcast provides guidance for directors and business owners in need of support following the coronavirus pandemic.
For more information on how to protect your company from adverse proceedings, call 0207, 504, 1300, and speak with a professional independent advisor at Insolvency & Law.
If your company is struggling to cope with the fallout from Covid-19, it’s essential that you talk with an independent professional, as quickly as possible, and here’s why...
Lawyers are useful but expensive, and in most cases, they will refer you to a licensed insolvency practitioner if your company is insolvent.
Furthermore, the information you disclose may be used to bring misfeasance or Director Disqualification Proceedings against you. If this happens, you could be prosecuted, and banned from managing companies for up to 15 years.
Before seeking either legal representation, or advice from an insolvency practitioner, you should carefully consider the following 3 statements:
- In statutory insolvency procedures, insolvency practitioners are licensed and regulated to protect the rights of creditors (the businesses you owe)
- Creditors are the insolvency practitioner’s primary concern in a statutory insolvency procedure
- Insolvency practitioners and lawyers earn by realising the assets of insolvent companies, and their directors, if necessary
Although the British government approved around £40bn in Bounce Back Loans, a countless number of businesses still expired, and many others have been forced into insolvency.
Naturally, company directors and business owners feel defenseless, mainly because so few of them understand the powerful insolvency legislation at their disposal.
If your company is struggling, or insolvent, speak with an independent professional who can advise you on Bounce Back Loan repayments; help you to understand your options; recommend an appropriate insolvency practitioner; and act on your behalf to steer the course of events.
Insolvency & Law was founded in 2009 to provide beleaguered business owners with bespoke company director services. Since then, we've learnt about the laws and regulatory framework surrounding debt, companies, and insolvency in England and Wales.
You are free to take the information we share, to represent yourself, or we can act on your behalf to protect your assets, and liaise with your insolvency practitioner.
Our independent professionals can help you navigate insolvency, business rescue, and debt-related matters, irrespective of your circumstance.
Sadly, we’re coming to the end of this episode. But don’t worry, if you need more information, or guidance on insolvency, furlough, CBILS or Bounce Back Loans, call 0207, 504, 1300, and speak with an independent advisor at Insolvency & Law for a free and confidential consultation.
If you found this information useful, you’ll probably enjoy some of the other shows in this series, especially the episodes on defending misfeasance claims, director disqualification proceedings and how to prepare for examinations with the official receiver.
Thanks for listening to the end of this podcast.
Goodbye.
