Help for Directors

All businesses face the occasional financial crisis but when they become a critical problem you need to know exactly where you stand. In our help for directors section, you will find specific information for answering your questions around if you are insolvent, what you need to do if you are and how it will affect you.

Creditors Liquidation

What is known as Creditors Voluntary Liquidation is the process that most businesses must go through if they are insolvent. It can be a difficult time for everyone involved, so we have created this special section of our site to give you the important facts about CVLs in a clear and down to earth way so you can see where you stand.

Members Voluntary Liquidation

This is when your company is still solvent, but you (and your fellow directors) decide it is time to call it a day and retire or move on to the next stage of your lives.  With an MVL, you will release the assets and use these funds to pay off the creditors before returning the remaining funds to the shareholders.

Guiding your business through Administration

Leicestershire | Warwickshire | Northamptonshire
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Administration

What is Administration?

If your company is insolvent or close to insolvency, you have the choice of putting it into Administration. The process gives you time and space to achieve one of the following -

Administration is also an option for partnerships. Read more about Partnership Administration.

How do we approach our role?

We begin by advising you and your fellow directors as to whether administration is a viable option. We’ll act as administrators and, with solicitors, arrange to place your company into administration.

We’ll then act as the Administrator, giving your company protection against creditors.

Within eight weeks of our appointment, we send our proposals to the creditors. They, in turn, will choose to approve, modify, or reject these proposals.

How does an Administration come to an end?

In one of the following ways

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Company Voluntary Arrangement

What is a Company Voluntary Arrangement (CVA) This happens if your company becomes insolvent and you come to an arrangement with your creditors to delay ... more

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Yes, for those of you that watched ‘Game of Thrones’ you will appreciate that this is the threat of bad things happening. We have heard similar ... more

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Find out more about how we can support you when times are tough.  We’re here to help with clear, straightforward support.

Call us on 0116 2325117 (Leicester) or 01926 671891 (Warwick), or email us on info@smartbusinessrecovery.co.uk