The UK water industry operates in a complex operational and financial environment which has pushed the sector’s largest company, Thames Water, to the brink of insolvency and raised the prospect of a temporary government privatisation.
A serialised guide to some concepts and features encountered in the world of offshore insolvency
Financial institutions base their lending decisions on the level of risk posed by a borrower.
Bonds are essentially IOUs issued by companies or governments to raise capital: investors buy bonds from the issuer company, becoming creditors who then receive periodic interest payments. The principal amount is returned when the bond matures.
Agents, and, more specifically, Registered Agents are the topic of the first article in this series.
The most common route into Administration is for the company directors to call a meeting and hold a vote.
As a company director, you may have to provide a personal guarantee to secure business borrowing or underpin a commercial tenancy agreement.
Entrepreneurs’ Relief is a tax relief scheme which allows for a reduced rate of Capital Gains Tax (CGT) to be paid upon the disposal of a limited company.
HM Revenue and Customs (HMRC) has expressed concern about the use of this process known as Moneyboxing, but what is it? Begbies Traynor discusses.
Struggling to pay the VAT is a common problem for companies, however, this does not mean the problem should not be taken seriously.
Removing a County Court Judgment (CCJ), also known as having a CCJ set aside, can be done under specific circumstances but taking early action is key.
Restructuring plans are the latest addition to the corporate insolvency sphere, allowing a company to enter into a "compromise or arrangement" with creditors.
A rescued company may be described as a 'going concern' because it is expected to trade profitably and without distress for at least 12 months.
The Insolvency Act, 1986, allows for the appointment of a provisional liquidator under certain circumstances.
The administration process was designed to protect a company from creditor pressure whilst a plan for rescue or restructure is put in place.
When a limited company is dissolved and its name removed from the register at Companies House, directors must ensure that creditors are paid within 12 months of closure. This is a fundamental part of being eligible for dissolution, as the process is not available to insolvent companies.