Freephone 08081 446611 for practical solutionsNews
May 2010
Insolvency Practitioners saved nearly 2 million jobs in 2009. The **** Com Res has estimated that the UK Insolvency Industry has helped to save nearly 2 millio... more
February 2010
INSOVENCY NUMBERS ON THE RISE The latest figures from the Insolvency Service show a 22.8% rise in Company liquidations during 2009. Similarly the number of Per... more
January 2009
RECESSION. IT’S OFFICIAL
Government figures reveal that GDP fell 1.6% in the final quarter of 2008. Taken together with the 0.6% fall in GDP the previous quarter it means we are officially in a recession. This is hardly news to most small businesses, many of whom were struggling throughout 2008. The economic pundits suggest recovery is unlikely to begin before 2010.
PRE-PACK ADMINISTRATIONS
New rules came into force from 1 January 2009 to make pre-packs more transparent. Pre-packs occur when a sale for the company’s business/assets is negotiated before the appointment of Administrators and completed either on or shortly after the appointment of the Administrators. Understandably this gave rise to suspicion amongst creditors, who were only presented with a proposal after the event. From now on clear guidelines should ensure that details of the Pre-pack are given to creditors as a matter of course. Administrators are aware that they need to be able to substantiate their decision to follow this route. In many instances a Pre-pack will be the best way of maximizing a return to creditors and saving jobs.
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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