What happens to your pension if your employer goes into liquidation?

What-happens-to-your-pension-if-your-employer-goes-into-liquidation

Understanding pension compensation payments for employees In case your employer’s business comes under liquidation, your pension might be protected by the Pension Protection Fund (PPF). It was established in 2005 to provide compensation to members of eligible schemes. The regulations within specific pension schemes also play a role in deciding the outcome during liquidation. However, […]

Understanding personal liability in insolvency

Actions-against-directors-assignment-of-claims-to-a-third-party

On 28th March 2020, the Government revealed fresh steps to aid struggling businesses during the COVID-19 pandemic. The Government plans to modify insolvency regulations, allowing companies a period of relief to continue operations while considering rescue options. It will also temporarily halt the wrongful trading rules, retrospectively effective from 1st March 2020 for three months. […]

The Status of a Directors’ Loan During Liquidation

What Happens to a Directors’ Loan During Liquidation

As a company enters liquidation, directors must repay their outstanding loans to the company to settle its debts. This article delves into the complexities of directors’ loans in the face of insolvency. We’ll delve into the legal intricacies, tax implications, and practical aspects, equipping you with the knowledge to navigate this process responsibly. By the […]

Support for Resolving Insolvency Issues

Free Insolvency Advice

Feeling the weight of financial burdens on your business? Struggling to maintain cash flow? Don’t worry, you’re not alone. Company Debt offers FREE, CONFIDENTIAL online insolvency advice to help you navigate through financial challenges and make informed decisions for your company’s future. With our decades of experience in turnaround and insolvency, we’re equipped to guide […]

I am Unable to Pay Suppliers, What is the Right Thing to do?

what if you can't pay suppliers

Many British businesses are grappling with the economic fallout of the pandemic, facing challenges like accumulating debt and struggling to pay key suppliers. This can create a vicious cycle where late payments damage relationships and lead to even stricter terms, further straining finances. While it may be tempting to prioritize certain suppliers to keep your […]

What are the potential liabilities of directors for company debts?

Could I Be Held Personally Liable For My Business Debts

Company insolvency arises when a business is no longer able to fulfill its financial commitments, rendering it incapable of settling its debts as they fall due. This situation of financial hardship can have far-reaching consequences for all parties involved, encompassing creditors, employees, and directors. This article endeavors to provide a preliminary overview of company insolvency, […]