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 Voluntary 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.

About Gavin

gavin bates

I have been working in the insolvency and business recovery world since 1990.  For many businesses, the issues of insolvency and cash flow can be difficult to deal with and it can difficult to know whom to turn to and what is the right advice.  As a licenced insolvency practitioner I focus on helping directors and their business to understand the issues, the possible solutions and answer the many questions they will have.

To achieve this, I focus on understanding your business first, then what the directors and business want to achieve, taking the time to make sure everyone is fully aware of options open to them and the advantages and disadvantages of each option.  Values and integrity are very much a part of what I do and insolvency and finance are very much about good advice, trust and integrity.

Financial problems are common but the solutions required are not, they are individual. I believe that the people involved in insolvency and other financial issues are the most important part of the resolution process.

I also specialise in solvent liquidations (or commonly referred to as MVL's). This type of work is very different to insolvency matters and should be planned long in advance. In general, directors are looking to retire or exit the business and want to ensure that this is completed correctly but also in a tax efficient manner. I work with your accountant to ensure the process is smooth and the funds are returned to shareholders as soon as possible.

Finally, I also work with individuals who have personal insolvency issues. Obviously, this can be very stressful for those involved, but I believe that if the individual understands the process then it will be easier to deal with.

Of course, I am not all about work.  In fact, I used to be involved in ultimate frisbee, and I still would be but my knees now have very different ideas.  These days  I have to settle for watching my children play the game instead. 

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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), 01926 671891 (Warwick), 02476 017639 (Coventry), 01604 263179 (Northampton), or email us at