I was having a round of golf with a local Barclays bank manager at the Marriott Breadsall Priory in Derby when I got a text message from my office saying could I please call a gentleman called Peter who was looking for us to recommend a good insolvency practitioner in Nottingham on his mobile when I finish my round of golf.

As an insolvency I get more calls being asked to recommend a good insolvency practitioner in Nottingham, Manchester, London, Birmingham and so on….. So why do so many people phone me to find them a good insolvency practitioner when they can find loads just by Googling insolvency practitioner in any city? It is my belief and I have been told that many a times, that I am the most trusted insolvency auditor in UK. Don’t take my word for it, just Google Moe Nawaz and see what others are saying about me.

So what is the difference between an insolvency practitioner and an insolvency auditor? Very good question, the insolvency practitioners job is to look after the interests of all the creditors regardless of who might have employed / engaged the insolvency practitioner (the company directors, bank, HMRC or any other creditor), he is governed by law to look after the interests of the creditors and not the directors. An insolvency auditor on the other hand looks after the interests of the directors by minimizing the directors liabilities and advising the directors which is the best case for them as well as the company and then if an insolvency practitioner is required in Nottingham or any other city, we will find an insolvency practitioner who is approved by one that we can all work with.

In addition the insolvency auditor will explore all avenues before the liquidation which might come back to bite the directors in the future.

Anyway, when I had finished playing golf that day, I phoned Peter up to find out why he needed an insolvency practitioner in Nottingham? As he began to explain he had HMRC debts of £137,000 which included VAT and PAYE, in addition he owed suppliers £455,000 and the bank £49,000 which he had given guarantees against his house.

After listening to Peter for about 35 minutes I then said to Peter that we really need to meet and sit down and spend a few hours to explore the best possible action which would leave Peter with minimal liabilities.

We met up with Peter 3 days later in Nottingham, the first thing which I noticed on Peters Company accounts were the directors load accounts of £133,000. I had explained to Peter in the event of the company being liquidated the liquidator would come after Peter after the liquidation for the loan account. The insolvency practitioner is not likely to say anything when he takes you on as a client but is going to take action to get that money owed to the company which is the directors loan account.

We needed to create a strategy that would allow Peter to reduce his bank overdraft and to try and get off with paying as small as possible amount back to the company from the directors loan account and make sure that HMRC do not investigate and further action personally against Peter for wrongful trading after the liquidation.

Two months later, Peters bank overdraft was now sitting at £1,150 compared to the £49,000 which he had when we first met Peter. We had negotiated a figure of £21,000 to be paid back to the liquidator for the directors loan account compared to £133,000 which Peter would have been made to pay. And no further investigation from HMRC.

You see I have been working and creating pr-liquidation, pr-insolvency strategies since 1989 by reducing the directors personal liabilities in the event of a company liquidation. So if you are going through difficult times and need an insolvency practitioner in Nottingham or need someone who can and will guide you through the maze of insolvency and be by your side through the whole process, then simply pick up the phone and call me on Tel: 0800 24 0800 and lets see what we can do to help you.

Moe Nawaz: Insolvency Auditor  -  Published Author  -  Mastermind Strategist

It is amazing how many people phone us up to recommend a good insolvency practitioner in Leeds and my first question is, would you mind telling me the problem is and why you need an insolvency practitioner in Leeds?. The reason I ask this is to find the problem that they are facing and is the insolvency practitioner the right solution, in 85% of the cases it is not normally the solution well not right away.

Let me give you example of what I am talking about. Late last year I was giving a talk about why businesses fail at the Institute Of Directors Office in Leeds. After the talk a gentleman by the name of  Stephen asked me if I could recommend a good insolvency practitioner in Leeds. So I asked him why do you need an insolvency practitioner and yes I do know a few very good insolvency practitioners in Leeds.

Stephen started to explain why he needed an insolvency practitioner, his company had come to the end of the road with debts exceeding £293,000 and he was about to lose his house as he owed the bank £65,000.00 on an overdraft.  Work was still coming in but Stephen could no longer finance the orders.  The debts were made up of HMRC, PAYE, VAT and trade suppliers to the company.

In an ideal world what, if I had a magic wand, what would be your ideal solution if given the choice. He replied, if he did not have the debts his business would be very much viable now. Why now I asked Stephen?, we had a few clients go bust on us in the last two years leaving us with unpaid invoices. Stephen was in the printing business and the margins are very tight. The company at this point in time was owed just under £91,000 from customers, but even if we collected all that in we could not pay off all our creditors and it would be years and years before we could see our way clear of the debts, that is why I asked if you could recommend a good insolvency practitioner in Leeds.

Let me get this right then Stephen, what you are saying is that if you could have the business back without the debts you could make a profit and would love to continue running your business with your employees?. Yes 100% he said. Well if that is the case I can help you create a pre – insolvency strategy which will allow you exactly that. We arranged a meeting for the following week.

At the meeting with Stephen at his place of work in Leeds we spend around four hours finding out more information about the company’s affairs, creditors, bank relationships, supplier relationship and not forgetting the customers. From that we created a strategy which would allow the company to continue trading for another 5 weeks and then hand the business over to one of our approved insolvency practitioner in Leeds to wind the affairs of the company up by means of a voluntary company liquidation.

We managed to buy back the plant and machinery after negotiating with the liquidator for around 45% of the price. Stephens bank overdraft had also been reduced to just under £7,300 compared to the £65,000 which it was at before we get involved.

Stephens business did need a good insolvency practitioner in Leeds but, he would not have got the result we got for Stephen. As an insolvency auditor my duties are to the directors of the company directors. That’s why people all around Europe are saying Moe Nawaz is the most trusted insolvency auditor who works with company directors.

So if you are in a sticky situation and need someone on your side to give you the best advice and take you through the maze of insolvency and all the stigma surrounding it then just give me a call and we will see how best we can help you through your difficult times. Call 0800 24 0800

Moe Nawaz: Insolvency Auditor  -  Published Author  -  Mastermind Strategist

I was having my coffee break in the morning at 10:AM when I got a call from a bank manager who introduced me to Collin the owner and managing director for a construction company in the London area. Colin had approached his bank manager to break the bad news to them that he will not be able to pay off his company overdraft of £136,326.00 and needed the advice of a London insolvency practitioner to liquidate his company which had total debts of £613,000.00 of which CIS tax debt was £372,000.00 and PAYE debt another £36,455.00 and VAT debt was around £69,765.00 and the rest was made of other creditors. Hence, why Collin was looking for a London insolvency practitioner to wind up his company. The company also had money due in from work carried out which mounted to £193,700.00

We arranged a meeting and met up three days later at Collins offices in London. Collin had brought along with him his company accountant to make sure the advice he was going to be getting was good and actionable. As I explained to Collin, my duties as an insolvency auditor are to the directors and not the creditors of the company. My responsibility was to help Collin reduce his personal liabilities as well as the company’s liabilities but ultimately priority was Collins personal liabilities, i.e. his bank overdraft and to make sure the tax man does not come after Collin personally for any of the company’s taxes or being prosecuted for wrongful trading.

We spent just over 4 hours getting and reviewing the financial information needed to make the best recommendation for Collin. The first option was to do a CVA better known as a Company Voluntary Arrangement but for this we will need the consent of 75% of the creditors but bearing in mind that the taxman or HMRC were the main creditors, they might go for it or might not. The down side would be that Collin would be tied down for the next 3 to 5 years paying off company debts and other bad point would be that all his future creditors would insist on payments up front without any credit. This would have a major effect on cash flow, and then you would still have the bank to pay back because they had a charge over Collins house for the overdraft.

It was becoming clear by the moment that the only real solution for Collin was to create a strategy for the pr- liquidation in order to reduce or clear the bank overdraft so that Collins house would be safe and saved from all this financial fallout from the company liquidation. We arranged for Collin to register a brand new company and start trading immediately from the new company.

Six weeks in to our strategy, we introduced Collin to one of our approved Insolvency Practitioners in London to take on the liquidation for the company. By this time we had reduced Collins overdraft down to £11,300at which point it was not a major issue for Collin and his house was now safe.

We manage to secure most of the plant and machinery from the liquidator for a very low price for Collin so Collin can continue his new business without too many interruptions.  Collin now had a new company up and running with our help and none of his creditor chasing him, all the old debts had died with the old company with the liquidation.

If you find yourself in a situation where you need to find a good London Insolvency Practitioner who will help you then give me a call and I will help you plan a strategy to get you through the maze of insolvency and finding the right Insolvency Practitioner one who will look after you and we will guide you through the whole process, from start to finish, WHY?, because that’s what we do best. Call us on 0800 24 0800

Moe Nawaz: Insolvency Auditor  -  Published Author  -  Mastermind Strategist

I remember getting a call from a woman who sounded as if she was about to cry, as she asked if I could recommend a good insolvency practitioner in Manchester because she had creditors harassing her on the phone and bailiffs turning up in her office. After asking her why she needed an insolvency practitioner in Manchester, she went on to explain that she had risked all her life’s savings and her family house as a guarantee to the bank for an overdraft for her business which was about to be liquidated and that was why she needed an insolvency practitioner in Manchester.

As I managed to drill down in trying to understanding the extent of her business problems she told me her name was Mary and she had total company debts of £273,000 and an overdraft of £31,300 which was secured against the family house. Furthermore the company had stock of £79,000 at cost and other fixture and fitting for her wedding dress shop of about £15,000 which would only make maybe about £2k under the hammer of an auction.

Mary had already been to see two insolvency practitioners in Manchester one recommended by her accountant and another by her local chamber of commerce.  She said she did not feel comfortable with them as they were not telling her the full story. So she started to search online to learn a little bit more about insolvency and the process when she came across our site via Google.  Mary had been listening to some of the videos of the people who we had helped and felt at ease to be able to call us up for advice to recommend a good and trustworthy insolvency practitioner in Manchester.

After getting a good grasp of Marys financial problem, I was able to assure Mary that we could save her house and clear all if not most of her overdraft with the bank. At this point Mary started crying on the phone and I could tell that Mary was under a lot of stress with her business.

Four days later I went to Manchester to meet with Mary and her husband at their shop in Manchester. I devised a strategy for them that would allow them to continue trading for another month and then place the company in to voluntary liquidation via one of our approved insolvency practitioners in Manchester.

Three months down the line, Mary had a brand new company up and running with no former creditors and the bank overdraft had been paid off all but £3,421.00 compared to the £31,300 when we first spoke with Mary. Marys old company had been liquidated and Mary also mange to purchase the remainder of her stock for 25% of the cost price which saved her a wapping 75% enough to give her a head start with her new reborn business without the debts and all from a telephone call because Mary wanted an insolvency practitioner in Manchester.

If you are having problems with creditors and can’t see a way out and need some professional advice to take you through the insolvency maze no matter where your business is, why not give me a call. My name is Moe Nawaz, there must be a reason why people say that I am the most trusted insolvency auditor in the UK.  Don’t take my word for it Google me and see what others are saying about me.

Call out insolvency helpline on 0800 24 0800

Moe Nawaz: Published Author  – Insolvency Auditor  -  Mastermind Strategist 

Last year I got a telephone call from a woman who said she had a business in the London area and needed a reputable insolvency practitioner to help wind her company down. I asked this woman to tell me about her business problem that she was facing and why she wanted to wind her company down.

After a brief history of her 7 year old catering business which had now accumulated debts of £311,000.00 to suppliers and hotel venues. New work was still coming but she was not able to manage her cash flow to keep the business running and pay off her suppliers at the same time.

The reason the company had got in to debt was that she had three weddings which went pair shaped not due to faults of her but she did not get paid after the event and the couples just vanished abroad, therefore leaving her to mop up the bills.

I asked her the million dollar question, if you had a magic wand in an ideal world what would be the best outcome you would like to see achieved from this situation that she found herself in?.  After thinking about it for a moment or two she replied I would love to carry on running the business which she had built up and loved her work but a few bad mistakes has brought her to this sorry state that she was facing business bankruptcy and needed to find a good insolvency practitioner in London.

It was at this point that I advised her of some of the services which we provide to company directors faced with insolvency and business debts in London.

Three days later we had a meeting at the institute of Directors offices in Pall Mall in London. We spent almost 4 hours together putting a strategy together that would allow Janet (by this time she had given me her full name) to start a new company up and set up bank accounts to start trading in the new company for all her future orders that came in. Then we found Janet an insolvency practitioner in London that was on our approved register of insolvency practitioners in London.

Four weeks later the old company was liquidated by one of our liquidators and we arranged to buy back the fixtures, fittings and the rest of the assets of the company for a knocked down price of £0.30 in every £1.00 in other words 70% below cost, which was a good result and no more worries about any outstanding debts or creditors chasing Janet for money she could not afford.

Janet is now running her business successful and is taking on more staff to expand her business outside of London as well.

If you have a viable business that can be made profitable if it were not for the debts you are carrying then we might be able to create a strategy that will allow you to grow your business without the worries you are currently facing.

Why not give me or my team a call and see how quickly we can help you sleep easy at night by taking away your worries.  We have approved list of insolvency practitioners in London in the event you need the services of an insolvency practitioner in London or the rest of the UK.

As an insolvency auditor my duty is to protect you by minimizing your personal liabilities as a director and any wrongful trading which you might be exposed to.

Other Insolvency & Liquidation Related Topics

Limited Company Insolvency Help

Call us FREE on 0800 24 0800

Back in September last year, I got a phone call from a bank manager to have a chat with a client of the bank who had fallen in to financial difficulties. I met up with Paul a few days later in London who explained his ltd company had debts totalling £357,000 and only £63,000 due in from company sales and stock of £129,000 at cost and other assets consisting of motor vehicles and office equipment of about £39,000. Paul could not see his way out of his current debt situation for his limited company.  It did not take an accountant to work out that this limited company was way over its head unless it could find an investor, which under the current climate is hard, very hard.

After Paul explained to me that his company was very viable but the company debts had forced it to slow down as any money that came in went to pay debts thus leaving no or little for wages and buying in supplies.

After weighing up pro’s and con’s Paul had 3 options, a company administration, a CVA or Pre-pack administration for his limited company.  If you need to know more about how each option work, click on the links above.

My own personal recommendation was to go for the Pre-Pack Administration because this allowed the directors to buy back the assets which were worth £39,000 for just £17,000 and a further £10,000 for the good will and intellectual property of the company and trading titles. For less than £70k Paul purchased his old company assets back and also in the process got rid of staff that he no longer need by making them redundant and also wiping out all his unsecured creditors in one clean sweep with our help and guidance.

Paul’s new company is making profits after 3 months and is looking to take on new employees to grow the business.

So tell me about your limited company and its debts and problems that you are having that are keeping you up at night?

I will do a deal with you, if you tell me your problems just like Paul did and I will promise to find you the right solutions to get you from where you are to where you would like to be with your company, that sound good to you? Good.  You can call me on 0800 24 0800 and even the phone call is FREE.

Testimonials

Small Business Insolvency Help

Call us FREE on 0800 24 0800

It is a common fact that most small businesses have to struggle to keep pace with daily cash flow budgets in order to stay alive and survive.  This applies if you a director of a small limited company or a sole trader, you have to watch every £ that comes in and goes out or you could end up facing the insolvency courts. Is insolvency a bad thing for any small business or not is another issue you need to consider if your company or small business debts have gone to such a stage that you feel that there is no way you will ever be able to repay these debts. If that is the case then we can help you to turn the insolvency laws around to help you out of your financial situation painlessly in most cases.

If you have a viable business that could survive and make profits were it not for its current debts then you need to speak with one of our experts who will help you to reduce or even eliminate your small business debts by applying the insolvency rescue packages available to small businesses facing hardship.

If you have been having sleepless nights worrying about your business debts then we are here to help you get things back under control so you are once again able to run your business without the harassment of creditors chasing you for money which you don’t have.

Insolvent Trading

You must be aware of insolvent trading and the consequences of trading. First of all let me explain what is insolvent trading, insolvent trading is when the company is unable to pay its bets when they fall due, this is better known as of cash flow insolvent and the other form is when your balance sheets assets are less than your liabilities, this again defines an insolvent business / company.

But with both of these situations they can be examined and in most cases solved by injection of further funds but with most small businesses and sole traders this is very hard with the current economical conditions with the banks not lending any money to small businesses regardless of the government is saying.ts or small business debt experts to determine your best course of action. Failing that you really need to find yourself a good experienced insolvency auditor who will help you plan and reduce your personal liabilities in the event of a liquidation or a winding up petition against your company.

The need for expert advice in matters of small business debts and insolvency help / advice has never been in greater need that with the current economy which we all work and live in.

I know it’s hard to face up to facts specially when you have put all your life savings in to the business but the only way out of this mess is to speak with one of our team of many experts with your small business debts and will provide you with the course of action for you and your situation.

Remember we are all here to help you and if we can’t help you, we will be the first to tell you that but in over 95% of the cases we are able to help and provide solid support throughout your situation till matters are resolved.

I myself have been helping small business owners since 1989 and some of my team members even longer, so you have loads of experienced people all ready to help you through your financial maze.

Testimonials

Just pick up the phone and try call one of our team members and see how we have helped thousands of other small business owners just like you get through these difficult time.

Put us to the test by calling 0800 24 0800 and even the phone call is FREE.

in uk

Most of us recognise that it is very important to keep on top of our finances when we own a business. This applies to all types of business including limited companies. If a company is unable to meet it’s liabilities as and when they fall due then the company can be deemed as insolvent. In other words it has more liabilities than assets.

It is important to realise that a limited company did not become insolvent over night. If your company is insolvent then you need to consider seeking advice on company insolvency.  You really need to sit down with a good experienced insolvency auditor if you own a small business or a turnaround practitioner if your company is turning over more than a million in sales. An insolvency auditor will be able to advice you of all the options open to you even if creditors are banging down at your doors. It is never to late to seek professional advice from an experienced insolvency auditor.

What does Company Insolvency Mean? To find out watch the video below or scroll down to read…

At the end of this short video you will understand: What is a Company Insolvency? What is Insolvent Trading or Wrongful Trading? What are the Legal Implications of a Wrongful Trading? What should you do if you are in this position? What Next?

What should you look out for?

I see company directors daily who are facing financial difficulties and yet they continue struggling to make ends meet rather than seek professional advice which could help save the business before it becomes too late. But more often than not they normally arrive at the last hour when they have run out of all other avenues of survival.  It is always very difficult to admit that you are losing control of your company and you need outside help.

For example you might find you are always juggling money to ensure you have enough to pay your bills. Similarly you may find your overdraft is always being squeezed and you cannot get an extension on it from your bank. If you let your bills become overdue on a regular basis, you should take this as another red flag and seek the advice of an insolvency auditor to help you find ways to save your business before it is too late. Life is not easy when you don’t know who to turn to for the best advice when you are running out of time and money fast.

Is it possible to ward off company insolvency?

The good news is that it is, but you must learn to recognise the earliest signs that there may be a problem. Recognising your financial situation and dealing with it at a very early stage can be enough to get your company back on the tracks again. If you consistently have more money going out than you have coming in, it’s obvious that this is a problem that will only get worse for every day that passes with out help and advice from an insolvency auditor. An insolvency auditor can advice you if need company insolvency advice or just a quick health check.

Taking responsibility for your company could mean taking a long hard look at your financial situation. Tackling it now and making changes to your business in order to ward off business insolvency could save it in the long run – and it might even lead you back into healthy profits once again. In any event it is very important to take action as soon as you see the warning signs.

For Company Insolvency Advice Call on 0800 24 0800 alternatively you can download the quick Insolvency Survival Guide For Businesses written by the author Moe Nawaz who is an insolvency auditor, turnaround practitioner and a mastermind strategist from his experience since 1989 of helping people just like you to map out a better future.

By Moe Nawaz - UK’s Most Trusted Insolvency Auditor & Mastermind Stratergist

Company Directors Liquidation Advice

Business Liquidation & Insolvency Advice Line For Company Directors

Anybody who has past or present experience of running a company knows that it is both a challenging and demanding task. Several aspects of the business always seem to need constant attention and management, so it understandable under certain circumstances that businesses become insolvent. As the director of a company, the implications of insolvency and bankruptcy are very significant, and under certain circumstances, the company directors can be made individually accountable for the company’s debts. For example, if a company continued to trade despite being insolvent, the director may become liable for its debts. 

Can't Pay HMRC Tax or VAT Bill?

A company may be wound up because it has failed to pay certain creditors inc HMRC – Tax or VAT, so one or several of the creditors may file for a winding up petition. Many creditors feel disgruntled due to the money owed to them, and do their best to encourage an investigation into the director’s conduct, to see if the insolvency could have been prevented if the director had acted in different ways. This is a huge amount of pressure for a company director to be under.

If a business has been wound up, whoever liquidates the company (closes the business and sells its assets) will, in most cases, investigate the director of the company. They can also investigate anyone who assumed an unofficial role of directorship in the three years before the company was wound up. 

Insolvency Directors Investigation 

The investigation will determine whether or not the director acted appropriately in the given circumstances, and also whether they made decisions that were favourable to their creditors and their business, not just for personal gain. Under the 1986 Insolvency Act, companies are not allowed to trade when they know that they are insolvent, and this will be checked in the investigation. This illegal practice is known as “wrongful trading”, and if a company is found to have traded wrongfully, the implications for the director are very serious.

The Insolvency Service will then look into the investigation that the liquidator has carried out, and if the liquidator has found any misconduct on behalf of the director, in their report they will recommend that action is taken against the director.

There are usually two types of action that can be taken against the director. Firstly, they may receive a Director’s Disqualification for a fixed period of time. Secondly, they may become personally liable for debts acquired at the now insolvent company which they held a directorship at. You can see what a serious situation this is for a company director to be in, the future consequences are severe and drastic, and can have a negative effect on a person’s income and their credit rating. 

Each business has completely different circumstances surrounding the winding up of the company. If you are a director of a company that fears the future implications of insolvency for your business, speak to a professional Insolvency Auditor who is experienced in dealing with insolvent businesses. The insolvency auditor will help you to assess your current situation and the consequences of the decisions you make for your business.

For FREE and Confidentual Advice Tel: 0800 24 0800

Business Insolvency Services

A company that advertised itself as a ‘one stop shop’ for dealing with bankruptcy has been ordered into liquidation today following an investigation by The Insolvency Service.

UK Bankruptcy Limited (UKB), which was based in Dorset, but incorporated in Edinburgh, attracted clients through advertising and referrals from another official looking website called ‘IVA Council’. The investigation found the company derived the majority of its income from fees charged to clients who used UKB to make themselves bankrupt. The fees, often running into thousands of pounds, bore no correlation to the work undertaken or the extent of the clients’ level of debt. The advice given was often very basic and could easily have been obtained for free.

In some cases the fees charged to clients’ credit cards rolled into the ensuing bankruptcy whilst the amount of fees appeared to equate to the amount of credit still available on their cards. This action meant that, in effect, the clients’ creditors were funding the company’s fees with no prospect of repayment. The investigation also found evidence that some clients allowed the company to maximise the amount of fees charged to their cards, in return for which they were given “cash back”.

Between about October 2007 and June 2008 the core business of UKB was generated by leads provided by an organisation called the IVA Council (IVAC), an unincorporated association which purported to be a voluntary independent body that monitored the insolvency industry. In reality IVAC was a marketing tool that generated leads for UKB by suggesting to individuals that they had been “mis-sold” an Individual Voluntary Arrangement (IVA) and they would be better placed financially by petitioning for their own bankruptcy. Clients referred via the IVAC were almost invariably persuaded by the UKB to discontinue an existing IVA and enter into bankruptcy.

Commenting on the case, Stephen Speed, Chief Executive of The Insolvency Service said:

“At a time when finances are so tight for so many people it is regrettable that a business like UK Bankruptcy Limited should use dishonest practices to exploit the demand for debt advice for its own financial gain. I hope the action we have taken will serve as an important reminder to anyone in debt; good quality advice is freely available from charitable organisations. In addition our publication ‘In debt: dealing with your creditors’ provides an overview of the personal insolvency options.”

Notes to editors

(1) The Office of Fair Trading have issued warnings recently about firms operating in this sector with concerns over declining standards and non-compliance with their Debt Management Guidance issued in 2001. This Guidance applies to all firms providing financial management services including IVAs, personal bankruptcy and commercial credit repair. In particular the OFT have warned that firms often mislead individuals with debt problems with websites that imply they have some official status or sanction from the Government and are less than transparent about the level of their charges.

(2) UK Bankruptcy Limited was incorporated in Scotland on 1 June 1992 and its registered office is at 24 Great King Street, Edinburgh, EH3 6QN. The company carried on business from Alton Chambers, 37 Church Road, Parkstone, Poole, Dorset, BH14 8UF.

(3) The company’s debt advice business was carried on from about June 2005 to the presentation of the petition. Its association with the IVA Council lasted from October 2007 to June 2008.

(4) The investigation was carried out under section 447(3) of the Companies Act 1985 by officers from Company Investigations, part of The Insolvency Service.

(5) The petition was presented on 8 December 2008 under s124A of the Insolvency Act 1986 on public interest grounds that; the company’s business was unscrupulous, inappropriate and operated to the detriment of creditors of the company’s clients and sometimes the debtors themselves.

(6) The company’s turnover for the year ended May 2008 was approximately £2.8M and it had more than 3,000 clients.

(7) The directors and joint shareholders of the company were Sean Mason and Tobias Gooden then of Throop Road, Bournemouth, and Wimbourne Road, Wimbourne respectively.

(8) The Insolvency Service administers the insolvency regime, investigating all compulsory liquidations and individual insolvencies, through the Official Receiver to establish why they became insolvent. The Service also authorises and regulates the insolvency profession; deals with disqualification of directors in corporate failures; assesses and pays statutory entitlement to redundancy payments when an employer cannot or will not pay employees; provides banking and investment services for bankruptcy and liquidation estate funds; and advises ministers and other government departments on insolvency law and practice. Further information about the work of the Insolvency Service is available from

http://www.insolvency.gov.uk.

The parent company of Living Oasis bookshops has entered insolvency.

Suppliers were issued with an insolvency notice for The Nationwide Christian Trust (NCT), signed by its owner Ray George, on 1st August. The first meeting for creditors will take place in Essex on 17th August.

Along with running the 19 former Wesley Owen bookshops under the name Living Oasis, the NCT also ran courses and events at Mulberry House in High Ongar, Essex.

In the last four months the Living Oasis shop portfolio has fallen from 19 to two, with only Harrogate and Watford branches left trading.

George told The Bookseller last week that the Christian bookselling chain had been put up for sale. He had said: “We have lost £1.2m in the last year and we are pulling out of book retailing. It is us too much for us to continue with, we cannot face these losses.” He indicated  the NCT had borne the brunt of the financial strain.

When contacted, a spokeswoman for George said he will soon be releasing a statement about the situation.

Directors Insolvency Advice Helpline 0800 24 0800

Advice For Company Director From Turnaround Expert

Anybody who has past or present experience of running a company knows that it is both a challenging and demanding task. Several aspects of the business always seem to need constant attention and management, so it understandable under certain circumstances that businesses become insolvent. As the director of a company, the implications of insolvency and bankruptcy are very significant, and under certain circumstances, the company directors can be made individually accountable for the company’s debts. For example, if a company continued to trade despite being insolvent, the director may become liable for its debts.

Insolvency Advice For Director

A company may be wound up because it has failed to pay certain creditors, so one or several of the creditors may file for a winding up petition. Many creditors feel disgruntled due to the money owed to them, and do their best to encourage an investigation into the director’s conduct, to see if the insolvency could have been prevented if the director had acted in different ways. This is a huge amount of pressure for a company director to be under. 

If a business has been wound up, whoever liquidates the company (closes the business and sells its assets) will, in most cases, investigate the director of the company. They can also investigate anyone who assumed an unofficial role of directorship in the three years before the company was wound up.

Wrongful Trading By Directors

The investigation will determine whether or not the director acted appropriately in the given circumstances, and also whether they made decisions that were favourable to their creditors and their business, not just for personal gain. Under the 1986 Insolvency Act, companies are not allowed to trade when they know that they are insolvent, and this will be checked in the investigation. This illegal practice is known as “wrongful trading”, and if a company is found to have traded wrongfully, the implications for the director are very serious. 

The Insolvency Service will then look into the investigation that the liquidator has carried out, and if the liquidator has found any misconduct on behalf of the director, in their report they will recommend that action is taken against the director. 

Directors Disqualification

There are usually two types of action that can be taken against the director. Firstly, they may receive a Director’s Disqualification for a fixed period of time. Secondly, they may become personally liable for debts acquired at the now insolvent company which they held a directorship at. You can see what a serious situation this is for a company director to be in, the future consequences are severe and drastic, and can have a negative effect on a person’s income and their credit rating.

Each business has completely different circumstances surrounding the winding up of the company. If you are a director of a company that fears the future implications of insolvency for your business, speak to a professional Insolvency Auditor who is experienced in dealing with insolvent businesses. The insolvency auditor will help you to assess your current situation and the consequences of the decisions you make for your business.

 Company Directors Helpline FREE 0800 24 0800 

PERSONAL GUARANTEES P.G's

Businesses in the UK regularly get loans if they need some extra capital, maybe to expand the business. Some businesses have a large overdraft facility which they may use from time to time. However, many of these loans and business account overdrafts need a “guarantor”, a person who will pay the money owed on a bank loan or the money on an overdraft that was never paid off. If you have given a personal guarantee to the bank and they are calling the guarantee in, don’t pay the full amount negotiate with them to get the amount down by up to 40% or phone our helpline and we will help you with this.

Under certain circumstances, a company director of a limited company can become personally liable for the debts of the company if they are not paid back on time, or the business becomes insolvent due to those bank debts or debts with other creditors.

If used correctly, a business loan can be great for a company and aiding its growth. However, in reality things don’t always go to plan. Other financial obligations may mean that the money is spent paying company debts rather than being invested into growing the business. 

You have mounting debts from your business account overdraft or from business loans you have taken out

A secured bank overdraft and loan means that the creditor, in this case the bank, uses your business assets as security, but may also use some of your personal assets as security; this could even be your family home. If business debts owed to the bank can’t be paid through the business, the bank may try to seize some of your personal assets to repay the money owed to them.

Mounting debts from business loans and business overdrafts can be a huge problem for the director of a company, particularly if they are part of other debts that the company owes to different creditors, including the tax man and suppliers. This could be a case where the company is becoming insolvent, so a professional who can offer expert and independent advice will be able to help you and may be able stop your company from becoming insolvent. 

Insolvency Helpline 0800 24 0800

What is a directors’ dispute?

“A partnership is a sinking ship” so the quote goes. Unfortunately for some UK businesses, this is the case. Partnerships that start out so well can easily be eroded, especially when there is money and a business involved. Nowadays, many businesses have and need more than one director, but this can sometimes lead to problems. Directors’ disputes occur when there are disagreements between some of the directors within a company. Shareholder disputes also happen within organisations, and usually occur when there is a conflict of interest between the shareholders and the directors of a company.

Why do these disputes happen? 

Anyone that is running a business has a large amount of things to deal with, and this can be quite stressful. Problems and tensions can arise between directors of the company, regardless of how streamlined and efficient the business may be. There are many reasons why a dispute between directors may happen. For example, one of the director’s may not be meeting expectations in terms of their performance; there may be a conflict of interest between two directors, disagreements about the future direction of the company, or one of the directors could have acted in a way that was not in the interests of the company. There are many more reasons why disputes between company directors occur. 

What are the consequences?

Most disputes have a bad habit of becoming worse over time, you may want to consider contacting a professional who can try and help to keep everything amicable and help the directors come to some sort of agreement with the least cost and confrontation possible.

Director’s disputes can have significant consequences for a business, if two directors at the same company don’t want to work together, this could have negative effects on turnover and the effective running of the business.

Negotiation is a much better solution that litigation, but if a dispute is bad enough, litigation may be the only option. However, litigation is usually a lengthy process, and the more time that elapses between the dispute arising and a resolution, the more the business is at risk. Seek professional advice as soon as possible, to minimise the likelihood of litigation. However, in some circumstances it may be the only option, but it is always better to analyse your choices first. An expert in this field may discuss options that you would have never otherwise thought about. 

What you should do if a directors dispute has arisen

Directors of limited companies have a legal responsibility to put the interests of the business over their own personal interests. If you are a director at a company, and you feel that one of the other directors has done something that conflicts with this idea and you can’t come to an amicable resolution or agreement, it is time to seek professional advice. A professional who is experienced in dealing with directors’ disputes and shareholders’ disputes will be able to act as an intermediary, help you to weigh up the options and take the appropriate action. 

Contact our Directors Helpline 0800 24 0800

Credit Card Debts For Businesses

Sometimes banks will refuse to lend money without a personal guarantee from a “guarantor” who will assume the debts if they can’t be paid by the business. In recent years, since beginning of the recession, banks have become particularly strict about lending money, so have taken more steps to ensure the money is paid back to them one way or another. 

Many businesses in the UK have business credit cards, most of which have a large overdraft facility just in case the business temporarily falls on hard times. However, if a business believes it is becoming insolvent, some company director’s will use the business credit card’s overdraft facility to pay some of its creditors. This leaves them with a major problem; the bank will soon want their money back.

If you are a director you may provide a guarantee on the business credit card or cards that you may have for your business. Personal guarantees for Limited Companies are now normally required from the banks. This is a great system when the company is solvent. However, if the business becomes insolvent, you as the guarantor become personally responsible for some if not all of the debts incurred on the business credit card. This can be a huge problem if you already have other creditors on your case for their money; it is another debt on an already large pile. 

You have mounting debts from your business credit card 

If you have increasing debts on your business credit card, and you’re not in a situation to pay back the money owed, speak to a professional and experienced Insolvency Auditor today. They will be able to help you look at the situation and address it in the best possible way for both yourself and your business. The faster you act the more likely it is your business can be saved.

Help With Business Credit Card Debts or other Company Debts Call Our Insolvency Helpline on 0800 24 0800 

How To Save Your Business From Debts

There are many small businesses in London facing financial crises who are seeking professional insolvency advice from London Insolvency Auditors. Although London is one of the economic capitals of the world, many businesses have felt the financial strain in the recent recession and things are not likely to get any better for a couple of years to come.

What is insolvency?

With the current economic recession, small business owners are worried about their company debts and the liabilities that the directors might be left with in the event of liquidation. With this in mind, insolvency is a growing concern for the UK business community. Insolvency occurs when a company cannot cover its debts. Where bankruptcy is a term used for individuals, insolvency is a term used for businesses. The two main types of insolvency are balance sheet insolvency and cash flow insolvency. When a company’s liabilities exceed their assets this is known as balance sheet insolvency, in other words, when the cash flowing out of a business is greater than the cash flowing into the business. Cash flow insolvency is a company’s inability to pay debts as they fall due

Causes of Insolvency

The current economic climate has proved too much for some businesses. There are a number of causes of insolvency such as loss of market, management failure in some capacity, unsustainable debt, and a businesses’ inability to pay their tax bill. Insolvency is most often caused by a businesses’ incapacity to handle company finances correctly. These are the more common reasons why businesses become insolvent, but there are many others.   

How can you solve this problem?

Whatever business you are in, if you are facing insolvency you have to make some very important decisions, first of all do you want to continue on with the business? Second, do you just want to call it a day and walk away but need to minimize your personal liabilities?. To rescue your business, you will need to not only pay back creditors you failed to pay in the past, but also change your practices so that this is not a situation your company has to endure ever again. This process is usually spread out over a period of between two and five years. The guidance of a good London insolvency auditor is critical.

Look at all of your options 

If insolvency seems inevitable, there are more options than just simply closing the business. Remember that closing your business will also incur costs. As the director, you should weigh up your other options. For example, it may be better for you to do a Company Voluntary Arrangement (CVA) or a Pre Pack Administration. A CVA usually involves decreasing the size of the debt repayments and writing off some of the company’s debt. A Pre Pack Administration is when a brand new company can buy the assets and not worry about the debts of the previous company. These may be better options for the company, but always consult an experienced and professional London Insolvency Auditor.

What you should do

It is of paramount importance that a business facing insolvency seeks the very best professional advice that is available. You need to weigh up your options at the earliest available time. If your business is being burdened with business debts and you cannot see a way out and need advice and guidance relating to insolvency problems, you can get the best advice from a great Insolvency Auditor. This could be the most important decision you make for your business, so be sure to employ the best advice that the industry has to offer.

Insolvency Helpline 0800 24 0800

INSOLVENT TRADING

What is Insolvent Trading?

Insolvent Trading occurs when a company does not stop obtaining credit although the directors know that the company has not got the sufficient funds to repay the creditors. It is unlawful in many countries, including the UK, under the 1986 UK Insolvency Act. Insolvent Trading can lead to the directors of a company becoming personally responsible for repaying the creditors. Insolvent Trading is sometimes referred to as “Wrongful Trading”. If you are not sure if you as a director of a company are liable you should speak with an insolvency auditor for advice, just to be safe.

Why would a company get themselves into this position?

Several factors can lead to a company involving themselves with these illegal practices, such as increasing debt, failure to meet the creditors’ usual trading terms, a lack of cash flow and poorly organised financial records. This is a highly unfavourable position for any company to be in, and the consequences can be severe for the company directors. Previous directors and Shadow directors are also liable for prosecution under the Section 214 of the 1986 Insolvency Act. Are you in this position with your current company? If so get professional advice from your local insolvency auditor.

What are the legal implications of Wrongful Trading?

Additional to the fines and criminal charges that company directors may face, if the liquidator has witnessed or experienced poor conduct from the director, they may also be banned from future directorships of other companies for a fixed period of time. This is due to the 1986 Company Directors Disqualification Act, and many dealings of an insolvent company in the UK will be undertaken by the Department for Business, Innovation and Skill’s (BIS) Disqualification Unit.

What should you do if you’re in this position? 

The best thing that you can do is seek professional advice from an Insolvency Auditor, and do this as early as possible to address the issues that you and your business are facing. Even if you are not yet in this position, but fear you may be in the near future, you should still seek professional advice to potentially prevent your company from becoming insolvent.

Cardiff Insolvency Helpline

Well it has been a long time in coming, but our insolvency auditors now cover Cardiff, Swansea and Wales area with our insolvency helpline. So if your business is suffering any financial setbacks due to the recession or the economy and you have creditors harassing you for payments. These could be VAT, PAYE tax bills, bank loans or suppliers demanding payments. At the Cardiff Insolvency Helpline which also covers Swansea and rest of Wales we are ready to assist you with your questions and concerns.

Insolvency Practitioner or Insolvency Auditor

Know Any Good Insolvency Auditors?

An insolvency auditor or a solvency practitioner can be a very useful person to know and keep in contact with in the business world today. The first thing that normally springs to mind of most business owners and finance houses when a business is in financial crises is an insolvency auditor or a solvency practitioner to help the company prepare for insolvency and to make sure the directors will not be harmed by the fallout if the business were to go in to liquidation. If that being the case the insolvency auditors main task would be to minimise the directors personal  liabilities and advise on any wrongful trading lawsuits that might pop up in the future due to wrongful trading.

Insolvency Practitioners

An insolvency practitioner on the other hand who is an officer of the court, even dough you as a company director might instruct him to act on your behalf he is duty bound to look after the interest of the creditors. That is not to say he will not give you good advice. 

Tell me one thing as a business owner, if you were in a court room and you were in court in the docks would you ask the solicitor who was prosecuting you to act as your defence at the same time just to save a few quid? Or would you rather have a defence solicitor who you knew was looking after your best interests only and not anyone else? Then why is it that most of the business owners and company directors when faced with insolvency never think of an insolvency auditor to seek professional advice before hand and during the insolvency process?

Yes it makes you stop and think, I bet? Good. So if your business is in financial disaster and you need someone on your side with experience to steer you through these difficult time without causing any damage to your reputation or at least minimizing it, then look on the internet and find a good profession Insolvency Auditor to be with you till the storm passes and you can see the clear skies and feel the fresh air. I will warn you they are hard to find and worth their weight in gold.

When You Need Someone On Your Side

With the number of companies that go into liquidation every week with a view of getting a fresh start and start a new company without any liabilities or just simply calling it a day and not continuing in business at all. All do so with advice from processionals but most or at least 60% (500 company directors of liquidated companies) of the company directors questioned stated that had they knew what they know now after the liquidation they would have employed the services of an Insolvency Auditor to look after their interests and guidance before and during the insolvency proceedings of their company. In finding a good insolvency auditor that has a great deal of experience in pre-insolvency structuring in order to minimise your personal liabilities and to advise you of any other concerns and issues that might pop up at later stages in the insolvency process.  

It takes some courage on the part of the business owners and company directors to face the fact that the business is in difficulty and they also have to be realistic about listening to the advice of the profession experts. A Company Voluntary Liquidation is used when the liabilities of a business far outweigh its assets.  If on the other hand the business is viable in the long run but in the short term the business is suffering financial cash flow problems other options that are open are CVA a creditors Voluntary Agreement or even a Pre-Pack administration.

Insolvency Advice From The UK's Leading Expert

Moe Nawaz  (as seen on T.V.) is a nationally recognised insolvency auditor who has focused on providing insolvency advice to business owners and company directors for over 20 years. He regularly travels the country assisting company directors on how to handle their toughest cases with the Inland Revenue, Customs and Excise and other creditors. Moe is highly ranked among the top insolvency auditors in the country, with two books to his credit as an author “The Insolvency Survival Guide For Businesses” and his second book “Bankruptcy Guide”. With clients from Scotland through to Devon Moe enjoys travelling to meet his clients, he has what it takes to solve your tax, VAT and other creditors problems for your company no matter where you live in the United Kingdom. If you would like more information about his practice and how he can help you, please call his office on 0800 24 0800 or contact him via email.

Business Insolvency Helpline FREE & Confidential Advice 0800 24 0800 

Insolvency Auditors Are Needed More Than Ever In The Current Economical Climate

Hardship For Small Businesses

It's no surprise that an increasing number of hard working business owners and company directors are finding themselves in the middle of an economical fight for survival to keep their businesses going and are in need of expert advice from professional Insolvency Auditors. Whenever you open a news paper or switch on your television, there are businesses closing down and people being laid off, banks getting in to trouble and governments bailing them out, businesses closing shop and liquidations at an all time record high. Insolvency used to be a rare exception as a course of action, but the rules of the game have changed. Today's economy has forced a record number of citizens to have no choice but to file for protection under the insolvency laws.

Insolvency Still Increasing

The overall economical picture doesn't seem to be to cleaver, also. The most recent figures indicate that there will be higher unemployment in the coming years unless people skill up with new skills. The unemployment figures are still going up every day which is the toughest rate since the beginning of the 1980's. Small business owners which is the backbone to any economy continue to be unwilling to employ new workers because they find it difficult to establish their foothold in today’s business environment.

Major High Street Names In Liquidation

High street names like Woolworths, MFI, Empire Direct, Powerhouse and many more to mention that have been around long enough to become household names are generally shutting down stores or even closing their doors forever. Including the ones that stay open have somewhat vacant parking spaces and low profit income. Alerts and emails have been sent out to consumers to spend their credit notes before businesses go in to liquidation or shut down.

Banks and Building Societies like Northan rock, Nat West and TSB went gone tits up, needing to be bailed out at the taxpayer’s expanse. The bank's bad lending habits were to blame with little or no deposit taken from the buyers who then got a 100% or more mortgages they bestowed upon many who are now in negative equity. It’s no surprise that how the ordinary person on the street and many business owners finds them selves seeking expert advice and services of an insolvency auditor.

Small Business Insolvency

What sort of companies or businesses seeking the protection of the insolvency law file for voluntary liquidation or pre-pack insolvency? The bulk of the business are the very small businesses employing less than 15 employees then there are one or two large corporations but not many of them left who need rescuing. The majority of the companies facing liquidation are with threats from the Inland Revenue or VAT, these companies have two real option, option one is to do nothing and wait for the winding up petition to land in the post and then the winding up petition turns to a winding up order at which moment in time the courts appoint the official receiver to investigate the companies affairs. Or second option is to speak with an insolvency auditor who will help you to save your business or provide you with options that might include fresh start without any debts in  the shape of a new company and help to liquidate your old company.  

Hard Working Business Owners Face Difficulties

Most of the small businesses don’t have any framework whatsoever in place to look after existing customers and to maximise the return from each customer. In majority of the cases in my 20 years plus experience most business owners do everything to bring in new sales from the front door but do nothing to keep customers for life by keeping them happy. This is not to say the business owners are not hard working, every business owner is very hard working with long hours each day to make sure there business is a success. But that’s another story for another day with the mastermind coach rather than the hat of an insolvency auditor.

If your business is in a situation where finance is very thin on the floor and sales are slowing down but debts on the other hand are mounting up with creditors hot on your tail then you need an expert experienced Insolvency Auditor to help you through these tough time to make sure you come away in the event of business insolvency with minimal personal liabilities and no personal law suits.

Moe Nawaz is the author of Bankruptcy Guide and also The Insolvency survival Guide For Businesses (find his books on Amazon).

Insolvency Helpline 0800 24 0800 For Business Owners & Directors

Moe Nawaz: Insolvency Auditor – Author – Business Coach

Insolvency London

Offering Personal Attention and a Positive Approach to Insolvency in the London Area

London Insolvency Auditors with over 20 years experience helping business owner and company directors with business debt relief and advising the directors about any wrongful trading and the legal action if any. We offer personal attention and a positive approach to insolvency in London for company directors and business owners, ranging from liquidation, CVA, Pre-Pack lnsolvency and other options. Most business owners and company directors are not aware of what rights they have for protection from creditors under the insolvency laws. If you are being pressured by creditors inc bank, VAT or Tax man – we can help put a stop to all that as you have options. Call our FREE London Insolvency Helpline 0800 24 0800. 

What Can An Insolvency Auditor Do For You?

Our London Insolvency offices are open for meetings or we are happy to arrange a meeting on site at your place of work. An Insolvency Auditors job is to look after the interests of the company directors and business owner by minimizing their personal and business liabilities. Over life time and experience in the insolvency sector we have seen too many business owners and company directors disqualified or charged with charges which should not have made against the directors had they been advised independently by an insolvency auditor. So if you are considering insolvency in London, liquidation in London, pre-pack or an administration in London for your company, I would urge you to seek the expert and professional advice of a good insolvency auditor In London. Even if it someone other than us.

Insolvency Advice From UK's Most Trusted Insolvency Auditor

Moe Nawaz, is a leading Insolvency Auditor in Europe and the author of the two following books which can be found on amazon.co.uk. The insolvency auditors duties are to guide you and stay with you through the whole of the insolvency process from start to finish. You can rest assured that when you need someone on your side, someone you can depend on, we will be there for you. Why not pick up the phone and see for yourself. This will give you an opportunity to go through any concerns and questions that have been keep you up at night. 

To contact Moe Nawaz on the London Insolvency Helpline Tel: 0800 24 0800

Company Tax Debt Helpline

Tax debts can be very damaging for any company if not dealt with promptly and correctly. Company debt with the Inland Revenue and Customs and Excise VAT can present serious consequences not only for the company but also may present future consequences for the directors of a company. The directors in effect are tax collectors for the tax man and vat man and every quarter or every month depending on arrangements which you have in place, you are meant to forward these taxes you have collected on behalf of the tax and vat man to the authorities.

Well that’s the theoretical side of the plan but in reality when you have other creditors and workers wages to consider on a day to day running of your business, you get pressured into paying money that was set aside for the taxman or vat man then gets used up in the day to day running of your company with the best of intention of repaying later. But that’s not always the case in practice.

When you have company debt problems you have to become proactive and take professional advice from an Insolvency Auditor who can best advice you with the options open to the company if you are looking to grow your business whilst dealing with the company debts at the same time. Money owed to any government agency such as tax or vat will incur penalties, interest, and other charges relating to late payment or non payment of debts.

Solution

Tax debt or vat debt, in both cases the authorities will usually work with the company and its directors who seek help for a payment plan. As soon as you see the problem getting worse start a dialog with the Inland Revenue or Customs and Excise to work out a plan to rectify the situation. By ignoring letters and phone calls from the authorities all you are doing is setting yourself up hardship. Speak with your accountant or if the situation call for it have a friendly chat with an experienced Insolvency Auditor who will only be too happy to answer and address your concerns.

If your company is struggling financially and is unable to pay its tax and vat bill as well as other creditors then you will need to call in an Insolvency Auditor who will help you the directors to minimize your personal liabilities in the fallout or the liquidation of the company.

Insolvency Advice From The UK's Leading Expert

Moe Nawaz  (as seen on T.V.) is a nationally recognised insolvency auditor who has focused on providing insolvency advice to business owners and company directors for over 20 years. He regularly travels the country assisting company directors on how to handle their toughest cases with the Inland Revenue, Customs and Excise and other creditors. Moe is highly ranked among the top insolvency auditors in the country, with two books to his credit as an author “The Insolvency Survival Guide For Businesses” and his second book “Bankruptcy Guide”. With clients from Scotland through to Devon Moe enjoys travelling to meet his clients, he has what it takes to solve your tax, VAT and other creditors problems for your company no matter where you live in the United Kingdom. If you would like more information about his practice and how he can help you, please call his office on 0800 24 0800 or contact him via email.

Tax and VAT Debts Helpline 0800 24 0800

Milton Keynes Insolvency Helpline

Well it has been a long time in coming, but our insolvency auditors now cover Milton Keynes and the Bedfordshire area with our insolvency helpline. So if your business is suffering any financial setbacks due to the recession or the economy and you have creditors harassing you for payments. These could be VAT, PAYE tax bills, bank loans or suppliers demanding payments. At the Milton Keynes Insolvency Helpline we are ready to assist you with your questions and concerns.

Business Insolvency – Liquidation – Pre-pack Administration

If you are a business owner or a company director you can use the Milton Keynes Insolvency Helpline FREE of charge for any issues related to your business and its debts. Insolvency is a very scary complex subject which most business owners don’t understand it but you have to keep in mind insolvency is also there to protect you the owners / directors of the company from creditors.

Insolvency Advice From The UK's Leading Expert

Moe Nawaz  (as seen on T.V.) is a nationally recognised insolvency auditor who has focused on providing insolvency advice to business owners and company directors for over 20 years. He regularly travels the country assisting company directors on how to handle their toughest cases with the Inland Revenue, Customs and Excise and other creditors. Moe is highly ranked among the top insolvency auditors in the country, with two books to his credit as an author “The Insolvency Survival Guide For Businesses” and his second book “Bankruptcy Guide”. With clients from Scotland through to Devon Moe enjoys travelling to meet his clients, he has what it takes to solve your tax, VAT and other creditors problems for your company no matter where you live in the United Kingdom. If you would like more information about his practice and how he can help you, please call his office on 0800 24 0800 or contact him via email.

Putting Your Company Into Liquidation

Company Liquidation Options

There are 3 common ways a company can be put in to liquidation:

       A)   A Compulsory Liquidation by the courts if the company owes money for goods or services received.  This sort of an action can be brought about by a secured creditor or an unsecured creditor of the company.

       B)   A Creditors Voluntary Liquidation is the most common form of liquidation in the United Kingdom. This is normally the case when the company has come to the end of the road or is trading insolvently due to cash flow to continue business. The main concern for the directors is wrongful trading if the company continues trading and accumulating debts when the directors know the company cannot continue in its current form with the debts.

C)   A Shareholders Voluntary Liquidation is where the company has served its purpose and has funds to pay all its creditors secured and unsecured including taxes.

So what is  a liquidation Of a Company?

First of all we need to understand what a company is, a company is a separate entity in its own right just like the shareholder or the directors are. The directors are the officers of a company who run the company. The shareholders are the people who have taken invested money in the company and have taken shares in return. A director can also be a shareholder in the same company , this is the most common small business you find around the world.

When a company is placed in to liquidation an insolvency practitioner (liquidator) steps in to the shoes of the officers of the company to finalise the affairs of the company, i.e. sell any assets of the company if any and pay any liabilities with what dividends are left if any amongst the creditors. Once all that has been completed the company is then dissolved and removed from the Companies House Register. That’s the end of the company.

Can I liquidate My Own Company?

If the company has creditors with debts outstanding then you cannot liquidate the company without having to employ the services of an insolvency practitioner. It may be wise to seek the professional  advice of an Insolvency Auditor for a free consultation to see the options you have open to you and to minimize and personal liabilities you as a director might have. The insolvency auditors looks after the interests of the directors. The insolvency practitioner is bound by law to look after the interests of the creditors.

If on the other hand if the company has no debts at all then simply fill in a simple form along with a small fee to companies house and have the company removed from the register.

Can I save my Company From Liquidation?

Even if a company has large amounts of debts it can be saved depending on the future of the company.  In a restructuring exercise if the company has a future and the debts are the only thing that is holding it back, then there is every chance the company may have a future with a restructure and reshaping the company. It is best practice to sit down with an experienced Insolvency Auditor who will advise you of all the options you as a director have to save your company.

Insolvency Advice From The UK's Leading Expert

Moe Nawaz  (as seen on T.V.) is a nationally recognised insolvency auditor who has focused on providing insolvency help to business owners and company directors for over 20 years. He regularly travels the country training accountants and solicitors and enrolled agents on how to handle their toughest cases with the Inland Revenue and Customs and Excise. Moe is highly ranked among the top insolvency auditors in the country, with two books to his credit as an author “The Insolvency Survival Guide For Businesses” and his second book “Bankruptcy Guide”. With clients from Scotland through to Devon Moe enjoys travelling to meet his clients, he has what it takes to solve your tax or VAT problems for your company no matter where you live in the United Kingdom. If you would like more information about his practice and how he can help you, please call his office on 0800 24 0800 or contact him via email.

Over 80% of businesses fail within the first 5 years

With the number of Companies and Businesses in the UK  going bust in the last 3 years, it pays to be on guard to make sure your business is not next in line for the insolvency courts.

Tough Times Call For Tough Measures

If you have a number of projects or products focus on the one’s that are making a profit and adding  to the bottom line no matter how much sales the other products might be bringing in unless it is adding to the bottom line, it is not making a contribution for the business growing.

If you have loss making projects or services in your business put them on hold, sell them off or close them. Tough times call for tough measures, if you want to remain in business you will have to make tough decisions.

Employ More Skilled People

Management skills, now is the best time to employ people you have not been able to employ in the past. The unemployment register is full of graduates and senior skilled mangers eager to work, so go look and find the best talent to help you take your business to next level.

If you find that your business, in its current form is not viable because it is burdened with debts which is holding the business back from growth or the business needs to be trimmed down to be made leaner to survive the recession. The solution to that is not a hard one, you need to sit down with an Insolvency Auditor to explore all your options so that the business will go forward no matter what the size of the debts. You can get court protection from the creditors if your business is viable and all that is holding it back is debts or fear of making employees redundant and the costs associated with that. Don’t let that hold you back seek advice from an independent Insolvency Auditor who will help you through these tough times.

Grow Your Business

The position you need to get your business to is where is not to dependent on credit and is cash rich to be able to negotiate better discount rates by pre-paying for its stock or settling the payment periods earlier and gain extra discounts. No matter what people say cash and customers are still kings no matter where they are.

In my 20 plus years working in the turnaround business sector, I have seen all sorts of businesses fail. One of the most common factor a large proportion of business owners tend to think if we had more money we will survive and we can pay for a good business plan to help us build a better and bigger business. The truth of the matter in most cases is they need to have a better plan in order to make better profits and have a good cash flow. That is all down to good management. Bad management will spend money regardless how much you give them, they will always be bad managers.

Don’t be afraid to ask for profession advice from experts, they might be expensive but they might even be prepared to work on a contingency with you and your business if they have any confidence in you and your team as well as having confidence in the solution they are proposing for your business.

Remember Winners Make It Happen – Losers Let It Happen.

Be A Winner

By Moe Nawaz Author of Insolvency Survival Guide For Businesses.

Author – Insolvency Auditor – Business Coach

Small Business Helpline

Business Debt Helpline

Business debts for businesses in the London area is increasing daily. The average business is being pressured by creditors ranging from bailiffs from the London councils through to VAT, TAX PAYE, bank loans, landlords, finance houses and other trade creditors.

So who can the business owners turn to in these tough times ahead in order to survive in business? The problem with most business owners when they started their business they all had dreams wonderful dreams about their business and the success the business was going to be but somewhere along the long road they lost sight of their dreams and the business just became a job with long hours and very little reward if any to take home.

With the world economy changed so much in the last 2 years business has become very hard and very competitive for everyone. So how do the directors / business owners in London or anywhere in the UK deal with the daily financial stress and worry that these times are bringing to our business doorsteps.

Credit of any form or shape be it from the bank or stock on credit is necessary for most businesses to survive. But what happens when credit starts to dry up and you have no or very little cash flow to run your small business?

When You Need Someone On Your Side

If you have a viable business which is being hampered by debts then there are a number of solutions which the government have put into place to safeguard businesses such as yours.

I can sit here and go on writing for ever about the option you might have open for your business to continue trading even with the business debts you might have hampering you from growing your business.

You need to sit down with an Insolvency Auditor and run through with him the problems your company is currently facing and what outcome you would like to see if you had the options to grow your business. He will then provide you with legal and ethical options and solutions for you and your business so that the creditors stop harassing you so you can get on with running your business.

If this appeal to you and you want to explore the option open to you to eliminate or reduce your debts then get some FREE and confidential advice by calling 0800 24 0800.

Professional Advice From The UK's Leading Expert

 Moe Nawaz is a nationally recognised insolvency auditor who has focused on providing insolvency help to business owners and company directors for over 20 years. He regularly travels the country training accountants and solicitors and enrolled agents on how to handle their toughest cases with the Inland Revenue and Customs and Excise. Moe is highly ranked among the top insolvency auditors in the country, with two books to his credit as an author “The Insolvency Survival Guide For Businesses” and his second book “Bankruptcy Guide”. With clients from Scotland through to Devon Moe enjoys travelling to meet his clients, he has what it takes to solve your tax or VAT problems for your company no matter where you live in the United Kingdom. If you would like more information about his practice and how he can help you, please call his office on 0800 24 0800 or contact him via email.

Business Debt Helpline

Business debts so you can re-take control of your life.

Business is getting tougher, times are getting harder and credit and finance has dried up. What do you do or who do you turn to help with your business debts. For what it’s worth you are not alone the government keeps telling us but what good is that to you, if your business day is filled with creditors phone calls, threatening letters arriving in the post and sleepless nights, you need to know how you can get rid of all those creditors so you can get on with running your business?. If that is the case read on…. Whether your business debt is delinquent or you are struggling to make minimum payments to your creditors, you may be able to get rid of your business debt under the insolvency act and begin to see light at the end of each day for you and your business. 

Business Debt & Insolvency Helpline, whose devoted and loyal team of professional experts have but one goal, and that is to help turn your business around. It doesn’t matter how much debt your business has, we are here to help remove the worry, the stress and get you and your business on the road to financial recovery with the minimum delay.

How Does It Work?

Once you phone our Business Debt Helpline on 0800 24 0800, we will ask you a few questions about your business and what outcomes you would like to see, if possible for your company. That is the starting point where we can possibly provide you with one or two options without to greater detail about your business debt and how best to address the problems with quick and easy solutions. If at that point you feel you need to arrange a free face to face consultation to explore the options open to you then we will be happy to do that.

You know something?

The advice is 100% FREE, yes that’s right FREE.

Professional Advice From The UK's Leading Expert

Moe Nawaz is a nationally recognised insolvency auditor who has focused on providing insolvency help to business owners and company directors for over 20 years. He regularly travels the country training accountants and solicitors and enrolled agents on how to handle their toughest cases with the Inland Revenue and Customs and Excise. Moe is highly ranked among the top insolvency auditors in the country, with two books to his credit as an author “The Insolvency Survival Guide For Businesses” and his second book “Bankruptcy Guide”. With clients from Scotland through to Devon Moe enjoys travelling to meet his clients, he has what it takes to solve your tax or VAT problems for your company no matter where you live in the United Kingdom. If you would like more information about his practice and how he can help you, please call his office on 0800 24 0800 or contact him via email.

Leicester Insolvency Helpline

Leicester Insolvency Helpline is now open for business, helping businesses suffering with financial crises due to the economy.  If your business is facing or possibly facing insolvency and you are in the Leicester or Leicestershire area you can call our Leicester Insolvency Helpline for free and confidential advice to see what options are open to you and your business.

When a business is suffering due to lack of sales or cash flow you as a director need to look and see if the business is solvent or insolvent as you might be breaking the law if you continue to trade if your company is insolvent. The Leicester Insolvency Helpline number is 0800 24 0800 the service is 100% to phone and have a confidential chat.

What Can The Leicester Insolvency Helpline Do For Me?

Wipe out VAT and Inland Revenue debts for your company

Help to liquidate your company and start a new one without the liabilities

Arrange finance or introduction to private investors up to £5m

Explore options of Bankruptcy, Liquidation, Administration or Pre-Pack

Minimize your directors liabilities or eliminate them

Stop court order and bailiffs’ from further action 

Cash refund up to 40% of your losses in your company

When You Need Someone On Your Side

Moe Nawaz is an Insolvency Auditor and an Author of 2 books on insolvency (Amazon.co.uk)  with over 20 years of experience helping business owners just like you to make sure your business liabilities don’t become your personal liabilities. Don’t just take my word for it, as Moe would say himself please go and Google Moe Nawaz and see how he has been helping business owners and company directors all around the UK to come out winners.

If you feel you need to get a better understanding of what insolvency is or an administration order is or a pre-pack insolvency is then CLICK on this and read more or call the Leicester Insolvency Helpline number below

Leicester Insolvency Helpline 0800 24 0800

Simply visit our testimonials page and see what our clients have to say about us and how we helped them in starting a fresh company or walk away commitment free. View Full Testimonials

Moe Nawaz Insolvency Auditor – Author – Business Coach

Insolvency Helpline for Company Directors

True Insolvency On The Up

The number of businesses filing for voluntary liquidation under the insolvency law for protection in the United Kingdom reached an all time high during 2010, according to new figures.

A leading insolvency auditor has urged businesses in the UK to make a resolution this new year to keep their financial affairs under control, following reports of record levels of personal and company insolvency including bankruptcy, Individual Voluntary Arrangements (IVAs) and Debt Relief Orders (DROs) .

The latest statistics for businesses being liquidated in the UK do not show the full and true picture according to Moe Nawaz a leading insolvency auditor and author. Moe claims that over 20% of the companies removed during 2010 from the register or dissolved should have been liquidated because the debts that these companies still had outstanding. Companies house has been removing registered companies from the register because the directors had not been filing the accounts or not returning the annual returns for the companies. This left annoyed creditors all over the UK with nowhere to turn to for the creditors.  Moe fears that this year the situation could get worse unless the law is changed or companies house reviews it policies for dissolving dormant companies from its register.

Moe Nawaz, from the Help Organisation is urging creditors who are left high and dry when  a company is removed from the register from companies house unless it has been liquidated or wound up by the courts to write to companies house stating that the company in question still has creditors and that the creditors have rights to object to the removal of the company from the register until the directors face their responsibilities.

 “With VAT  at 20 per cent now, 2011 brings with it a rise in living costs for people in the UK — and this, coupled with the threat of further job losses, will put added pressure on every business owner.”

Unfortunately, many businesses may already have reached a financial crisis point.

Moe Nawaz said: “Those whose businesses are already struggling with unmanageable debt should seek advice from an insolvency auditor as soon as they can to find out what options are available and how they can get their business back on track or liquidate the current company and start fresh.”

As businesses prepare to feel the “pinch” of 2011, Moe Nawaz the leading UK insolvency auditor has told us today that his team will be helping every business that turns to them for help free of charge.

Business owners and company directors can can access free advice on www.ukadvice.com   or by calling

Our Insolvency Helpline 0800 24 0800

Moe Nawaz – Author – Speaker – Insolvency Auditor - Business Coach 

Nottingham Insolvency Helpline

Nottingham & Derby Insolvency Team

Our staff at the Nottingham Insolvency Helpline are ready to help you with your business  when you need someone on your side. The service is 100% free to all business owners who need to know more about insolvency and how it can help them with their business if burdened with debts or other financial matters.

What Can The Nottingham Insolvency Helpline Do For Me?

Wipe out VAT and Inland Revenue debts for your company

Help to liquidate your company and start a new one without the liabilities

Arrange finance or introduction to private investors up to £5m

Explore options of Bankruptcy, Liquidation, Administration or Pre-Pack

Minimize your directors liabilities or eliminate them

Stop court order and bailiffs’ from further action 

Cash refund up to 40% of your losses in your company

When You Need Someone On Your Side, That You Can Trust

Nottingham Insolvency Helpline is run by Moe Nawaz and his team. Moe is the author of “The Insolvency Survival Guide For Businesses” and co author of “Bankruptcy Guide” both these books are on amazon.co.uk

Nottingham, the Land of Robin Hood and his merry men from the years gone by.  The only thing you might see is someone from the Sheriffs or the bailiffs office if your business has been struggling with debts. But the Nottingham Insolvency Helpline is here to help the good people of Nottingham.

Simply visit our testimonials page and see what our clients have to say about us and how we helped them in starting a fresh company or walk away commitment free. View Full Testimonials

What Does This Cost?

Our Nottingham Insolvency Helpline is 100% FREE. Why is my advice free? Well I will be more than happy to tell you when we speak and yes it is 100% FREE.

What Next?

The next step is a complimentary 30 minute conversation with one of our consultants. This enables you to learn more about the process and what is involved. The call also allows you to learn more about us and how we can help you. You will know at the end of the free 30 minute consultation if the chemistry between you and the consultant is right for you and you want to proceed.

For more information please our Nottingham insolvency helpline for free and confidential advice 0800 24 0800 (Answering service after hours) or email us today!

Nottingham & Derby Helpline 0800 24 0800

Moe Nawaz Insolvency Auditor & Mastermind Coach

Business Insolvency Helpline

Business Helpline

With the economy and the banking claps since 2008 we are seeing more business insolvencies than ever before. This is due to the shrinking values of company assets on the one hand but on the other hand the companies are still burdened with heavy debts with no chance if any of repayments.  To help the UK business owners and company directors we have set up a FREE Company Insolvency Helpline.

With troubled times ahead till at least 2013 regardless of what each government is telling us, I think we all know the truth about how long this turmoil is going to last, that’s why we have set up the Business Insolvency Helpline to help business owners and company directors in the UK facing financial problems during the recession.

What is a Business Insolvency? To find out watch the video below

At the end of this short video you will understand: What is a Business Insolvency? What is Insolvent Trading or Wrongful Trading? What are the Legal Implications of a Wrongful Trading? What should you do if you are in this position? What Next?

Testimonials from people just like you…

FREE Business Insolvency Helpline 0800 24 0800

Moe Nawaz is a Insolvency Auditor and a mastermind coach with over 20 years of experience and is the author of “The Insolvency Survival Guide For Businesses” and second book “The Bankruptcy Guide” both these books are available on Amazon.co.uk. (Google Moe Nawaz and find out more about him) He brings his wealth of expertise, creativity and dedication to his passion – helping business owners and company directors whose businesses are facing insolvency and need advice about best options open to them, be it a liquidation, administration, business bankruptcy, pre-pack administration or a creditors voluntary agreement.

The one thing Moe prides himself in and his clients appreciate about him is his hands on approach to being there whenever they need him, before, during and after the business insolvency process.

When You Need Someone On Your Side, That You Can Trust

When you work with Moe Nawaz you will find him to be blunt at times, as he will tell you the facts as they are not always what you want to hear.  If at the end of the day both yourself and Moe decide to work together to getting you from where you are to where you want to be with your business insolvency situation. He will be there for you, when you need him.

Moe strives to bring these essentials to each and every case he works on with his clients. He works hard to bring about each clients desired outcome and is committed to a result orientated approach.

So if you want an expert in business insolvency who will tell you what you need to know and what you want to hear. Will help you minimize your personal liabilities and will stand by your side before, during and after the business insolvency process. In that case you want the best. Call and speak with Moe Nawaz on the Business Insolvency Helpline now to arrange a FREE consultation.

Business Insolvency Helpline 0800 24 0800

Manchester Insolvency Team

Our staff at the Manchester Insolvency Helpline are ready to help you with your business when you need someone on your side. The service is 100% free to all business owners who need to know more about insolvency and how it can help them with their business if burdened with debts or other financial matters.

What Can The Manchester Insolvency Helpline Do For Me?

Wipe out VAT and Inland Revenue debts for your company

Help to liquidate your company and start a new one without the liabilities

Arrange finance or introduction to private investors up to £5m

Explore options of Bankruptcy, Liquidation, Administration or Pre-Pack

Minimize your directors liabilities or eliminate them

Stop court order and bailiffs’ from further action

Cash refund up to 40% of your losses in your company

When You Need Someone On Your Side, That You Can Trust

Manchester Insolvency Helpline is run by Moe Nawaz and his team. Moe is one of the top Insolvency Auditors and the author of “The Insolvency Survival Guide For Businesses” and co author of “Bankruptcy Guide” both these books are on amazon.co.uk

Manchester has its ups and downs like any other city in the world.  If you have been threatened by bailiffs office if your business has been struggling to pay your debts to the Tax or VAT man. But the Manchester Insolvency Helpline is here to help the good people of Manchester.

Simply visit our testimonials page and see what our clients have to say about us and how we helped them in starting a fresh company or walk away commitment free. View Full Testimonials

What Does This Cost?

Our Manchester Insolvency Helpline is 100% FREE. Why is my advice free? Well I will be more than happy to tell you when we speak and yes it is 100% FREE.

What Next?

The next step is a complimentary 30 minute conversation with one of our consultants. This enables you to learn more about the process and what is involved. The call also allows you to learn more about us and how we can help you. You will know at the end of the free 30 minute consultation if the chemistry between you and the consultant is right for you and you want to proceed.

For more information please our Manchester insolvency helpline for free and confidential advice 0800 24 0800 (Answering service after hours) or email us today!

Manchester Insolvency Helpline 0800 24 0800

Moe Nawaz – Author – Speaker – Insolvency Auditor – Mastermind Coach

Directors Disputes

No Win No Fee!

No matter how well you might think you know your fellow company director, even with the best-intentioned directors will run into disagreements from time to time, and legal action may be required to protect your assets and your investment in the company. Director disputes or shareholder disputes can arise from a lack of trust, a failure to satisfy contractual obligations set forth between the directors, operating agreement, or other business contract, secret business dealings by a company director that are not in the interests of the company, or any number of other cases. To avoid excessive disruption in the day-to-day running of the business, such disputes usually need to be resolved as promptly as possible. Moe Nawaz author of The Insolvency Survival Guide For Businesses and also Business Bankruptcy only knows too well director disputes can kill a business quicker than any other threat. With over 20 years experience, Moe is skilled at handling various forms of director disputes, partnership disputes, shareholder disputes and is experienced in obtaining appropriate remedy quickly and amicably. 

FREE Helpline 0800 24 0800 if you suspect your company director or partner has violated any obligations owed to you or your company. We can help you with your director dispute and help investigate any claims and take the steps necessary to protect your interests and preserve your rights, even if it needs to dissolve the business and allowing you to start a new business or take over the current business. With director disputes, if necessary, we will put together a team of expert advisors, private investigators, and other experts to ensure your case is strong and supported by compelling evidence. if needed. 

Among the director disputes handled by Moe and his team of experts are the following:

Directors disputes in a limited company

Shareholder disputes

Partnership disputes

 LLC members disputes

Breach of duty or conduct

Business conspiracy

Theft of company property or trade secrets

Usurpation of business opportunity

The Courtroom is not always the answer in director disputes. Owners of closely-held corporations and other small businesses typically want to resolve conflicts as amicably as possible and return to servicing their customers. Through alternative dispute-resolution procedures like negotiation, mediation, and arbitration, it is often possible to reach resolutions that address the business partner's integrity issues and/or decision-making authority while still preserving the business you have worked so hard to build as an entrepreneur. 

When You Need Someone On Your Side, That You Can Trust

Don't allow a rogue company director or business partner to get the best of you in a director dispute. Moe Nawaz and his team are experienced and dedicated to achieving results for every client, NO-Win-No-Fee.

Don’t let a director dispute ruin your life.

Moe Nawaz – Author – Speaker – Insolvency Auditor – Business Coach