Horsham – Bristol – Gloucester
Horsham – Bristol – Gloucester
A Limited Company often does NOT protect you
from liability if you close insolvently…
Protecting the Director from Personal Liabilities..
A Limited Company often does NOT protect you from liability if you close insolvently…
If you liquidate insolvently, you may be pursued by the creditors or the liquidator for such things as having an overdrawn loan account, paying favoured creditors suppliers in preference to others, drawing out money for yourself too close to the date of closure
Aside from these immediate threats, once the company appoints the liquidator they are obliged to investigate for some period backwards.
This may raise other issues such as….
Having wrongly applied for or used government backed BBS loans
Continuing to trade when accounts show that the balance sheet was insolvent
Paying dividends on current profits when the balance sheet has long-term liabilities
Having disposed of assets and not applied the funds to the benefit of creditors
If you liquidate insolvently, you may be pursued by the creditors or the liquidator for such things as having an overdrawn loan account, paying favoured creditors suppliers in preference to others, drawing out money for yourself too close to the date of closure
Aside from these immediate threats, once the company appoints the liquidator they are obliged to investigate for some period backwards.
This may raise other issues such as….
Having wrongly applied for or used government backed BBS loans
Continuing to trade when accounts show that the balance sheet was insolvent
Paying dividends on current profits when the balance sheet has long-term liabilities
Having disposed of assets and not applied the funds to the benefit of creditors
How we Help and Protect You as Director
You explain all circumstances and actions to us in strict confidence. and we examine the same matters which an appointed liquidator will be obliged to investigate.
This gives time to review and sometimes modify technical errors. and protect you from potential demands for personal repayment and fines and – if the error is serious – disqualification from being a director for seven years.
We can present events that led to closure in a favourable lite.
Where there is no avoiding a potential claim we can mitigate this with our colleague liquidator so that (e.g.) monies paid in remedy actually meet liquidation fees that will need to be paid anyway.
Michael O’Connor MABRP
Director
When asking Interco to manage your company closure you are able to have confidence that ”we are watching your back”, warning you of pit falls and minimising difficulties
Call me direct to talk things through on : 0345 017 9773
Who are we?
How we Help and Protect You as Director
For these reasons above, before we arrange any liquidation, we spend time with our director client doing a “”health check“.
You explain all circumstances and actions to us in strict confidence. and we examine the same matters which an appointed liquidator will be obliged to investigate.
This gives time to review and sometimes modify technical errors. and protect you from potential demands for personal repayment and fines and – if the error is serious – disqualification from being a director for seven years.
We can present events that led to closure in a favourable lite.
Where there is no avoiding a potential claim we can mitigate this with our colleague liquidator so that (e.g.) monies paid in remedy actually meet liquidation fees that will need to be paid anyway.
Michael O’Connor MABRP
Director
When asking Interco to manage your company closure you are able to have confidence that ”We are watching your back”, warning you of pit falls and minimising difficulties
Call me direct to talk things through on : 0345 017 9773
Who are we?
My team of business and insolvency specialists have over 25 years’ experience providing expert, practical, assistance to Directors in difficulty and helping them survive and succeed.
Under Threat?
Expert Help for Directors
Client Feedback?
What our clients say
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What our clients say..
you were there to offer us support and guidance in a world where we lack understanding
Construction Company
you advised and guided us to make the best choices for ourselves and our business
Software Company
…guidance through a very tough time, protecting us from hassle and available when needed to answer some very tricky and challenging queries
Design Company
I would like to personally thank you for your help, support and guidance through this incredibly tough period. If you ever need a testimonial, just shout and I’ll be only to happy to oblige.
International Distribution
What our clients say…
I would like to personally thank you for your help, support and guidance through this incredibly tough period. If you ever need a testimonial, just shout and I’ll be only to happy to oblige.
International Distribution
you were there to offer us support and guidance in a world where we lack understanding
Construction Company
…guidance through a very tough time, protecting us from hassle and available when needed to answer some very tricky and challenging queries
Design Company
you advised and guided us to make the best choices for ourselves and our business