In our experience this is the most commonly asked question by creditors. While it is true that you cannot prevent your customer from entering liquidation, critically it is not too late to take control of the situation.
As the creditor, you are entitled to requisition a meeting of creditors provided the appropriate threshold is met and then vote on the appointment of an Insolvency Practitioner, and this is where we can help. Attendance at the creditors’ meeting provides you with a crucial opportunity to provide information and influence decisions in a way that maximizes your recovery prospects.
Once you receive notification of your customer’s pending liquidation, all you need to do is simply notify our team and we can assist by:
Where debts are concerned, speed is the essence and the sooner you contact us the better are the prospects of a successful outcome.
If your employer is unable to pay its debts, including your wages, it is likely to be insolvent. Your options depend on whether your company has entered a formal insolvency procedure. Sam Hawkins explains. This advice assumes that they have, but if not you should contact Citizens Advice or ACAS in the first instance for […]
HM Revenue & Customs (HMRC) now require statutory interest on corporation tax (CT) where it is paid after the normal due date, which has significant implications for current and future Members’ Voluntary Liquidations (MVLs). HMRC require the payment of statutory interest at 8% from the commencement of a liquidation on any CT that falls due […]