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.

Smart Business Recovery Coventry

Smart Business Recovery Coventry

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Coventry is not a place that gives in to adversity and it has seen more than its fair share of difficult times. Re-building and carrying on business as usual, is practically a part of the philosophy of the city. Walking through Broadgate or weaving in and out of the colourful stalls in the market, you could be forgiven for forgetting that in the current difficult economy, we will be facing some hard times again. Sadly, some businesses will struggle to navigate those difficult times and will have financial problems. In reality, many of us will be facing the spectre of bankruptcy, cashflow issues and even insolvency. That is where we can be of assistance. As an Insolvency practitioner based in the Coventry area, we are here to help.


When you are struggling to get through a financial problem, Smart Business Recovery will be there with you to re-assess your options and choose the right path. Our first advice though is always that if you are facing financial difficulties, seek help early. In some cases that help may be an arrangement with your creditors or some other option, if things are simply too far down the line, we may need to look at potential liquidation. Whatever the outcome Smart Business Recovery will deal with you professionally, clearly, and above all with empathy for the difficult times you may be facing. Not everything we deal with is crisis management though, we can also help you get the best result is you have reached the end of your working time and simply want wind down your business to retire. 

When you need advice though, we think you will want to be able to speak to someone who has local knowledge and is able to offer you timely, independent advice rather than meeting with a large, corporate firm.  

Our personal service is second to none when it comes to:

Business Insolvency: Clear, straightforward guidance and support.  Using our skill and experience to point you along the right path.

Members Voluntary Liquidation: Helping return money to shareholders when the time comes to cease trading while solvent.

Personal Insolvency: Supporting you with empathy and clarity through difficult personal financial circumstances.

Partnership Insolvency: Supporting you and your partners through the tough decisions that come with insolvency.

Business Advice: Using our years of experience to advise you with issues concerning Re-structuring, Re-financing, Debt Collection and Exit Strategies.

Financial problems in a business can be complex and difficult to navigate. We understand that and know that you want a resolution and to see where you stand for the future as fast as possible. That is why you should never delay if you think you need help.

Call us today if you are worried about solvency issues because the sooner we speak, the faster we can start to resolve your problems.

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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 01926 671 891 or email us at