The Debt Survivor

Bankruptcy

Posted on 16. Dec, 2009 by UK Liquidation.

For most people Bankruptcy really should be seen as a last resort, but if youre unable to take advantage of any of the other debt solutions available or if they simply do not suit your circumstances it may be the best way out.
The Enterprise Act 2002 came into force on 15th [...]

Continue Reading

Liquidation

Posted on 16. Dec, 2009 by UK Liquidation.

There are 3 types of liquidation
(i) Members Voluntary Liquidation
A Members Voluntary Liquidation MVL is a voluntary procedure to wind up the affairs of a solvent company.
Solvent, what does this mean?A company is capable of paying its liabilities in full plus statutory interest plus the costs involved in winding up, within 12 [...]

Continue Reading

CVA’s

Posted on 15. Dec, 2009 by UK Liquidation.

Company Voluntary Arrangement
There is legislation that enables a company to make a private arrangement with all its unsecured creditors. The CVA (Company Voluntary Arrangement) procedure was introduced by the Insolvency Act 1986 IA86 and is simply a formal mechanism which permits a company, which has debt problems, to reach a [...]

Continue Reading