Company
The three formal insolvency options available for a Limited Company are:
Solvent & Insolvent Liquidation
There are three types of liquidation procedures we offer advice on to Directors:
- Creditors Voluntary Liquidation
- Compulsory Liquidation
- Members Voluntary Liquidation
We can explain the pros and cons of each procedure and which is best suited to you in the current circumstances.
CVA
Broadly speaking a Company Voluntary Arrangement (“CVA”) is a legally binding contract between the company and its creditors where the owners want to save the business but cannot afford to pay all of the debts due now.
Administration
Neville & Co help the Directors lodge a notice of intention to appoint Administrators with the Court and send notices to any bank or third party with a debenture. Once the notice period has passed licensed Insolvency Practitioners of Neville & Co are appointed Administrators over the company.
