{"id":1032,"date":"2021-03-06T21:26:47","date_gmt":"2021-03-06T21:26:47","guid":{"rendered":"https:\/\/insolvencyhelp.co.uk\/faq\/"},"modified":"2024-05-15T08:50:21","modified_gmt":"2024-05-15T08:50:21","slug":"gyakori-kerdesek-felszamolas-anglia-uk","status":"publish","type":"page","link":"https:\/\/insolvencyhelp.co.uk\/hu\/gyakori-kerdesek-felszamolas-anglia-uk\/","title":{"rendered":"Gyakran feltett k\u00e9rd\u00e9sek"},"content":{"rendered":"\t\t
\n\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t

INSOLVENCY HELP<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t

Frequently Asked Questions\u200b<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t

Here at Insolvency Help we specialise in advising company directors in time of financial distress on solutions such as liquidation, administration, and other critical business rescue arrangements<\/p>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t

\n\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t

Frequently Asked Questions<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t
\n\t\t
\n\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t

liquidation - the most common type of insolvency procedure<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t\t\t
\n\t\t\t\t\t\t\t
\n\t\t\t\t\t
\n\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\tHow do i know if my company is insolvent?<\/a>\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t

There are three tests you can run to see if your company is solvent or insolvent.<\/p>\n

    \n
  1. \n

    Cash Flow Test \u2013 A company should be able to pay it\u2019s debt as they fall due. If this is not possible your company may be insolvent.<\/p>\n<\/li>\n

  2. \n

    Balance Sheet Test \u2013 If your companies liabilities (Creditors, Loans, Debts) exceed your company assets this means your company is likely to be insolvent.<\/p>\n<\/li>\n

  3. \n

    Legal actions against your company \u2013 A major warning sign that your company is insolvent is receiving any letters threatening with legal actions against your company, from creditors. Such legal documents may be: Winding Up Petitions an CCJ \u2013 County Court Judgement.<\/p>\n<\/li>\n<\/ol>\n<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t

    \n\t\t\t\t\t
    \n\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\tIs it easy to place the company into liquidation?<\/a>\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t

    A company can be easily placed into liquidation. The first step is to have a discussion with a Licensed Insolvency Practitioner and determine a course of action. If Liquidation is the best route, the process can be started immediately. The steps for placing a company in liquidation are the following:<\/p>\n

      \n
    1. \n

      Prepare the statement of affairs (SOA) \u2013 a document presenting the clear situation of your company, the level of debt, all the creditors, the assets level of the company and the history of your company.<\/p>\n<\/li>\n

    2. \n

      Board meeting \u2013 Directors of the Company meet and decide to place the company in liquidation<\/p>\n<\/li>\n

    3. \n

      Members Meeting \u2013 The Shareholders also decide that the company should be placed into liquidation<\/p>\n<\/li>\n

    4. \n

      Creditors meeting \u2013 the creditors meet and agree that the company should be placed in liquidation<\/p>\n<\/li>\n<\/ol>\n

      For more details regarding company liquidation\u00a0click here.<\/a><\/p>\n<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t

      \n\t\t\t\t\t
      \n\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\tWhat are my duties as a company director in liquidation and when do they cease?<\/a>\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t

      Directors\u2019 duties cease at the date of liquidation, although the director\u2019s full ongoing co-operation and assistance is required by the Liquidator. The company\u2019s directors must:<\/p>\n

      \u2022\u00a0Give the Liquidator information about the company\u2019s affairs
      \n\u2022\u00a0Provide details of its assets and liabilities
      \n\u2022\u00a0Preserve and hand over the company\u2019s assets to the Liquidator; and
      \n\u2022\u00a0Preserve and hand over the company\u2019s books, records, bank statements, insurance policies and other papers relating to its assets and liabilities.<\/p>\n<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t

      \n\t\t\t\t\t
      \n\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\tCan I still be a director after I went Insolvent?<\/a>\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t

      Having a limited liability company means that the directors have little risk (or limited liability) if the company fails, as long as they have acted properly and acted in time.<\/p>\n

      There are few instances where the Directors are liable such as wrongful trading.<\/p>\n

      Each insolvency case is different and the only way to know for sure is to speak directly with a Licensed Insolvency Practitioner.<\/p>\n

      Get in touch with one of our team members now.<\/a><\/p>\n<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t

      \n\t\t\t\t\t
      \n\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\tCan I purchase company assets as a director?<\/a>\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t

      A director may personally purchase company assets from the company or the Liquidator, provided an independent valuation has been obtained to justify the sum paid.<\/p>\n<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t

      \n\t\t\t\t\t
      \n\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\tCan we start again using the same or a similar name to the company in liquidation?<\/a>\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t

      No. Any individual who has been a director of a company in the 12 months prior to liquidation is prohibited for five years from starting up a company using the same or a similar name. The exceptions are;<\/p>\n

      \u2022\u00a0With the leave of the Court.
      \n\u2022\u00a0By informing all creditors in writing and in an advertisement in the Edinburgh Gazette
      \n\u2022\u00a0Where you have previously registered a company with a similar name, which has been in existence for more than 12 months prior to liquidation.<\/p>\n

      This fact sheet sets out some of the more common questions raised by Directors in such circumstances. It is not intended to be exhaustive or comprehensive guide to Director\u2019s responsibilities under the Companies Acts, Insolvency legislation or the law relating to it.<\/p>\n<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t