Business Bankruptcy Help and Advice

Whilst the term bankruptcy is applied to all forms of insolvency/financial problem, the term strictly speaking only applies to individuals. We are commonly asked about “Business Bankruptcy”, when clients are looking to liquidate their company, or place it into Administration.

In practice the closest thing to bankruptcy for a limited company is a Compulsary Liquidation. This occurs when a creditor presents a petition to wind the company up at the court. If the company fails to pay off the debt, the petition will be advertised in the London Gazette, at which point the company’s bank will usually freeze the company’s bank account. Directors often fail to realize the significance of a winding up petition and assume it is just another form of court action.

If a company is under this sort of pressure with proceedings being issued against it and winding up petitions threatened, it is vital that insolvency advice is obtained. There are formal insolvency procedures, such as Administration and Company Voluntary Arrangements, that can be used to protect the company and its assets, whilst a restructuring takes place.

For further information and a free consultation contact Lines Henry on 08081 446611.

What will it cost me?

This is a question you should ask any firm or organisation which offers insolvency / debt advice. Rest assured, Lines Henry as Insolvency Practitioners, do not make any up-front charge or consultation fee.

The following pages will help explain how and where we can help you.

Contact us

You can contact us by calling our freephone number 08081 446611. By emailing us at help@lineshenry.co.uk or alternatively by completing our call back form below:

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