Solvent liquidation? What’s the point?

Photo courtesy of Thomas Angermann   Give your client another option to consider   We bet you’re wondering: “Why would a company choose to undergo a solvent liquidation? How would a company even find itself in this position?”   Essentially, a solvent liquidation is a liquidation where the directors declare their organisation will be able ... read more.

Insolvency stats: October to December (2016)

How does 2016 compare thus far to the last five years?   Year by year comparisons (2014-2016)   Market commentary – what does the housing market look like?   2016 did not ended with a burst bubble as some predicted.   Yes, the market has slowed down as the total volume of houses sold decreased, ... read more.

Business vitals: 8 questions to help your clients with assessments

The holidays are over, which means it’s time to get back to business.   As you know, the beginning of the new year is an ideal time to assess how your company is tracking — and your clients will be busy doing the same.   The end of the fiscal year is also settling upon ... read more.

It’s Summertime! Time for a Voluntary Administration

Many businesses struggle through the holiday season, either due to a forced shutdown or unexpectedly low sales.   When the 15th of January comes around and the taxes are due, many companies find it difficult to pay their bills. Is a Voluntary Administration the magic bullet solution for the problem?   Simply put: No.   ... read more.

Liquidation strikes – but do the employees get paid?

Employees get a preference in a liquidation. It’s a well known and publicised fact. Schedule seven of the Companies Act 1993 stipulates, quite clearly, that employees get paid first … most of the time. There are a few exceptions to the rule which we discussed in our previous article on the matter “So you think ... read more.

Insolvency Stats – September 2016

  There were 177 appointments in September 2016. 164 liquidations, no administrations and 13 receiverships were recorded.   Total insolvency appointments stand at 1,717 for the year to date which is down on previous years.   Applications made to the High Court to liquidate companies in September 2016 totalled 23. This is considerably lower than ... read more.

Business for sale? Get the right value

    Buying a business – buyer beware?   As with any investment, it pays to know and understand as much as possible of your potential business venture. Particularly when your client is considering buying a business.   At the core, it is up to the buyer (and their advisers) to make sure they are ... read more.

A house divided? Property ownership

  Separate Property => Relationship Property   The Property (Relationships) Act 1976 (“PRA”) has been enacted to determine how the property of couples is to be divided once they separate.   The general principle is that property is to be divided equally between the couple.   Life is not that simple, however, so the Act ... read more.

When is an accountant not an accountant?

Consider a chartered accountant   There are many accountants out in the field, but a chartered accountant is able to do much more than crunch numbers. They are able to guide you during difficult financial times to turn a negative situation into positive.   But most importantly, a qualified chartered accountant is able to provide ... read more.

Insolvency statistics – May to July (2011 – 2016)

    There were 168 appointments in July 2016. 156 liquidations, no administrations and 12 receiverships were recorded. The volume of liquidations is down on those seen in July for each of the last 5 years, however, receiverships have increased. Total insolvency appointments stand at 1331 for the year to date which is down on ... read more.