Voluntary Administration is a less known alternative to liquidation. How does it work? The board of directors resolves to put the company into administration. Administrators take control of the company. Creditors rights to pursue the pre-administration debt freezes for a five-week period (potentially extended by the court). An initial meeting of creditors is held, where ... read more.
Posts tagged with “Chartered Accountants”
The Government on the 3rd of April proposed some legislative changes to the Companies Act in order to support business that are struggling due to the COVID-19 lockdown. One of the more interesting changes was the proposal to allow business to place their debts into hibernation. So, what is “Business Debt Hibernation”? Exact details aren’t ... read more.
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.
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.