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Company Difficulties |
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Information on the options available for corporate debt recovery, or otherwise. |
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Administration |
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Administration is a process for a company that is threatened by financial failure, initiating the procedure in order protects itself against action from creditors |
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Company voluntary arrangement |
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CVA is a moratorium designed to improve the overall financial position for the benefit of the stakeholders: the company employees, customers, suppliers etc. |
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Debt moratorium |
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A moratorium is designed to improve the overall financial position for the benefit of the company, employees, customers and creditors |
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Receivership |
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Although not as common due to changes in the law, historically a receiver being appointed has been the preferred route for some creditors (such as banks) wishing to have control over the insolvency process, when compared to a liquidation. |
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Provisional liquidation |
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In Scotland, a provisional liquidator can be appointed by either creditor(s), director(s) or the company (ie the shareholders). |
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Court liquidation |
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An insolvent liquidation can arise at the instance of a creditor(s), the company, director(s) or shareholders because the company is unable to pay its debts as they fall due. |
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Creditors voluntary liquidation |
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This arises when the company is unable to continue trading because it is unable to pay its debts as they fall due. |
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Solvent liquidation |
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MVL is a means of bringing a company to a formal end and distributing its surplus funds or assets to the shareholders. |
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Personal Difficulties |
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There are several options available when personal debt becomes unmanageable and financial commitments cannot be met. |
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Informal debt repayment schedule |
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An alternative to formal insolvency is a debt repayment schedule, also known as debt rescheduling. |
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Debt arrangement scheme |
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The DAS is aimed for people who want to pay what they are due but can only do so if they are given more time. |
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Trust deed |
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A trust deed is a formal insolvency procedure and has the effect of transferring your assets and liabilities to a qualified insolvency practitioner. |
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Sequestration (Scottish name for bankruptcy) |
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Sequestration is a formal insolvency process for individuals and partnerships in Scotland. |
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Interactive questionnaire |
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A questionnaire to assess your financial status. |
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Other Services |
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Recognising and dealing with bad debts |
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Insolvency proceedings generally mean that debts will not be paid in full. The unsecured creditor tends recover very little - find out more. |
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Credit rating |
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Meston Reid & Co provide credit and financial information on UK businesses as a result of our subscription to one of the most comprehensive databases available. |
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Guidance notes |
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Corporate, personal & employee financial guidance notes. |
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Useful forms |
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Corporate & personal claim forms. |
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FAQ |
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Corporate |
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Questions relating to business insolvency issues. |
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Personal |
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Questions relating to individual and partnership insolvency issues. |
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Statement of insolvency practice |
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Useful links |
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Light hearted look at insolvency |
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Legal notice |
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About us |
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Contact us |
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Insolvency updates |
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Business strategy newsletter |
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