Although they are both insolvency procedures, there are several key differences between liquidation and administration that you should be aware of. Let’s firstly, determine what both processes actually entail: What is Liquidation? Liquidation is the process of winding up a company’s affairs and selling off its assets in order to pay its debts. Once a […]

The petition deposit, the amount that needs to be paid up-front to seek an order, will be increasing in all cases where a petition is filed at court on or after 1 November 2022. There will be no change to the adjudicator petition deposit where the individual applies for their own bankruptcy. Changes being made […]

Many of you will have seen on social media platforms like LinkedIn and in the press countless reports of directors punished for abuse of the Covid 19 pandemic support schemes including the furlough and bounce back loan schemes. The insolvency profession is required in every case to identify whether the insolvent entity took out a […]

The case of Re Fore Fitness Investments Holdings [2022] EWHC 191 (Ch) reported in February of this year caused some interest and alarm amongst the corporate legal profession as it appeared to suggest that if a company had adopted the standard Model Articles of Association, it could not technically operate with only one director without […]

J W Butler and A J Nichols as joint administrators of the above company offer for sale; A book debt of USD$660,000 Customer based in China Contract subject to Chinese law Any offers to be submitted to e: info@redmannicholsbutler.co.uk by 12 noon on 8 August 2022. The affairs, business and property of North Sea Ventilation […]

North Sea Ventilation Limited – in Administration J W Butler and A J Nichols of Redman Nichols Butler were appointed the joint administrators of the company on 24 June 2022. The joint administrators are seeking offers for the business and assets. The key highlights include; Specialist supplier of heating, ventilating, air conditioning and refrigeration equipment […]

J W Butler and A J Nichols were appointed joint liquidators of the above company on 20 June 2022. The company was the largest independent hosiery manufacturer in the UK and the joint liquidators are seeking offers for whatever interest the company has in the company’s assets and stock. The company traded from Lutterworth. Assets […]

A debtor had a mental health moratorium in place which meant that any creditor was prevented from taking action against her. The debtor was evicted from her property upon the application of a creditor who had secured a charge over her property. The property was sold whilst she had a moratorium in place. The court […]

Judgement was given by the Court of Appeal on 9 May 2022 in Lock v Stanley. The Court of Appeal agreed with the first decision of HHJ Halliwell and refused to set aside the assignment of a claim to a litigation funder. The director, who was a creditor, challenged the assignment as the director had […]

If your company is struggling under the weight of escalating debts and creditors are relentlessly chasing you for payment that the company cannot afford, a Winding Up Petition is an inevitable outcome. What is a Winding Up Petition? A Winding Up Petition is a legal action brought by a creditor in an attempt to force […]