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Insolvency
Unfortunately many more businesses and individuals find themselves struggling to pay their debts. It is a stressful and worrying time. Discussing your options will help you think about alternatives which you might not have considered before.
The reasons for encountering financial difficulty will vary enormously. Often it will be because:
- your clients have not paid you resulting in cash flow problems
- your bank has withdrawn its support
- your personal circumstances have changed
A company is insolvent if it is unable to meet its debts when they fall due.
The statutory insolvency framework offers a range of options for companies and individuals who find themselves insolvent.
Our specialists at Hart Brown can discuss with you your choices and help achieve the best result for you. Taking the wrong steps can have far reaching consequences. Taking court action can be daunting and confusing. Liquidation is not the only alternative.
To speak to someone who can advise on insolvency or any other legal matters relating to your business call, email or request a call back from one of our specialist lawyers.