Company solvency problems
Diagnose the problem and understand the solutions
Assessing the financial position of a company is never an easy task. If the situation is at all complicated we suggest you simply call us and one of our Client Advisers will spend whatever time is necessary on the phone with you – that will typically be a minimum of 5 minutes but can be over an hour. All of our phone advice is free.
We are also happy to meet with you if you would prefer. Again, that meeting and advice is free.
If you would like to do some online assessments we have developed two excellent tools. By using the tools you will be able to:
- Assess your financial position;
- Diagnose the problem;
- Understand the Options available to you
You can find the two tests below:
- Is my company insolvent?
That is one of the most common questions we are asked and you’ve got to have that answer before you can seek a solution. If your company is insolvent then that will dramatically affect the solutions open to you and brings a whole raft of key legal provisions for directors into play including director’s personal liability. If your company is insolvent then it is commercial good sense, and the law requires you, to act now.
- Ask IRA!
IRA is our Interactive Restructuring Adviser. IRA asks four simple questions which allows IRA to diagnose your company’s financial position and then presents you with the Options available to you. Of course IRA links you to relevant pages so you can read more about your Options.
If the above advice has not answered your questions you might want to review the following pages and downloadable Information Sheets:
- Insolvent Trading
- Duties when facing Insolvency