Creditors’ Voluntary Liquidation (CVL) is a formal insolvency process initiated by the company’s directors when they realise the company is insolvent and can no longer pay its debts. In this process, the company voluntarily chooses to wind up its affairs and liquidate its assets, with creditors having the right to appoint a liquidator to oversee […]… Continue Reading
Understanding the CVA When a limited company is struggling financially, the directors might consider a Company or Corporate Voluntary Arrangement (CVA) as an alternative to liquidation. This option is specifically available to limited companies. Sole traders and partnerships would need to explore different avenues, such as an Individual Voluntary Arrangement (IVA). What is a CVA? […]… Continue Reading
Celebrating our Impressive Debt Recovery Results – £100 Million (& Counting) Our chasing letters and emails boast a remarkable 90% success rate for our members, proving to be an effective tool for prompting slow payers to settle their debts. Members benefit from up to 10 free chasing letters per month and unlimited free chasing emails. […]… Continue Reading
Celebrating our Impressive Debt Recovery Results – £100 Million (& Counting) We are delighted to announce a major milestone in our journey—our debt recovery services have successfully collected over £100 million for our members in the construction industry in the last 12 months. One of the most common questions we get asked is Can I […]… Continue Reading
Celebrating our Impressive Debt Recovery Results – £100 Million (& Counting) We understand that trading relationships can be delicate and the subject of debt recovery can be a sensitive topic, this is why our approach in collecting your overdue balance will change depending on your trading relationship. When further intervention is needed, our agency is […]… Continue Reading
We are delighted to share that in the last 12 months, our efforts through our debt recovery services have resulted in successfully collecting over £100 million for our members of the construction industry. This milestone is a testament to our commitment to professionally representing our members in a collections capacity, our drive to achieve results […]… Continue Reading
The Insolvency Service has released the latest statistics for August 2024, offering key insights into the state of insolvency in the UK. These figures are essential for businesses looking to understand the current economic climate and adapt accordingly. Key Highlights for August 2024: Breakdown of Insolvency Types: Yearly Comparison of Insolvency Types (August 2023 vs […]… Continue Reading
In the world of construction, where timelines stretch over months and sometimes years, managing cash flow can be a challenge. One of the most overlooked aspects in this arena is the retention fund—a small but significant percentage of the contract value held back by the main contractor. This practice, while common, often leads to large […]… Continue Reading
It’s no secret that the surety market has hardened and we are currently experiencing a contraction of capacity, restriction of acceptable wordings and underwriters, and their reinsurers, are being far more risk adverse than previously. With this in mind, we spoke to our friends over at Attis Credit Solutions about the impact the changes in […]… Continue Reading
Insights from the latest insolvency statistics released by The Insolvency Service for July 2024. These figures offer a valuable look at the current insolvency landscape in the UK and can help your business navigate these challenging times. Key Highlights from July 2024: Total Company Insolvencies: There were 2,191 company insolvencies in July 2024, reflecting a […]… Continue Reading
