If your company is insolvent, and you want to limit your liability –
liquidation could be the simple option.
You can assess whether your business is insolvent by applying two simple tests.
If your company’s liabilities exceed the value of its assets it is considered insolvent.
If your business can no longer meet its liabilities when they fall due it is considered insolvent.
As soon as your business fails one of these tests you should seek reliable advice immediately and put together a rescue plan.
We can help you.
Failing these tests is a warning shot across the bow rather than the end of the game.
We will with the help of our partners explore the best actions to avoid the situation deteriorating and personal liability claims being raised against you. A strategic plan and support can help you place everything back on a secure, solvent footing.
When you speak to us, we’ll help you confidentially review every aspect of your company’s finances. You can call us on 020 3997 1030.
It is important that you get expert help sooner rather than later. Continuing to trade without any real prospect of avoiding liquidation is known as ‘wrongful trading’ and may lead to you being held personally liable for your company’s debts.
We can arrange help for you to avoid this and suggest the best action plan based on your circumstances.
This may include:
It may be that there is no need for formal restructuring. Often, our partners can help you overcome the operational and financial obstacles that stand in the way of a successful business rescue.
If your business is fundamentally viable but faces significant liabilities, our partners can help you initiate a formal restructuring process. This may be an Administration or CVA. “link to Administration”
If after exhaustive reviews your company cannot achieve solvency, our partners can help you close down and wind up its affairs in a way that minimises risk and stress. Get the help needed to ensure that you enter into a Creditors Voluntary Liquidation (CVL) “link to Administration” without leaving the door open for any further repercussions.
Faster Finance Ltd can access over 80 lending companies offering whole of market coverage for every type of finance. Cashflow, bridging, invoice finance, debt loans and many other solutions. The smart way to find business finance.Find your best finance options today