VOSCAP NEWS
Understanding the Standalone Moratorium for UK Companies
The standalone moratorium, introduced under the Corporate Insolvency and Governance Act 2020, provides UK companies facing financial challenges with a vital period of protection from creditor actions. This article delves into the moratorium process, eligibility criteria, and the safeguards it offers, enabling businesses to assess and implement effective recovery plans while maintaining operations.
Can It Affect Me Personally if a County Court Judgment (CCJ) Is Issued Against My Company?
A County Court Judgment (CCJ) against your company can have serious implications, but does it affect you personally? This article explores when directors might be held liable, the risks of personal guarantees, wrongful trading, and fraudulent activity, and how to protect your personal assets while ensuring compliance with legal obligations.
Who is Liable for Product Guarantees and Warranties if a Company is Liquidated?
When a company enters liquidation, customers may face challenges in claiming support for product guarantees and warranties. This article explores the implications for consumers, outlining potential avenues for recourse, including statutory rights under the Consumer Rights Act 2015, third-party insurance claims, and credit card protections. It also offers strategies for business owners to mitigate risks associated with unfulfilled guarantees during financial distress.
Understanding the Standalone Moratorium for UK Companies
The standalone moratorium, introduced under the Corporate Insolvency and Governance Act 2020, offers UK companies facing financial difficulties a temporary reprieve from creditor actions. This period allows businesses to assess their financial position, explore restructuring options, and implement recovery strategies without the immediate pressure of legal proceedings. Understanding the eligibility criteria, the role of the insolvency practitioner, and the obligations during the moratorium is essential for directors considering this route to safeguard their company's future.
Can It Affect Me Personally if a County Court Judgment (CCJ) Is Issued Against My Company?
Facing a County Court Judgment (CCJ) against your company can be worrying for any director. While a CCJ usually doesn’t extend personal liability to directors of a limited company, there are exceptions — such as personal guarantees or wrongful trading. This article explains when personal risk arises, what directors should watch for, and practical steps to protect both company and personal assets.
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Voscap’s primary objective is to save your business. Our team of experts’ knowledge in restructuring and turnaround assignments is invaluable when assessing the best option available to your needs. With experience spanning several decades, we have the skill and resources to provide viable solutions within all industry sectors. All organisations go through difficult times and we are here to help. From small to multi-million turnover businesses, we have dealt with the most complex of cases. We offer an initial free assessment in analysing your financial position and providing clear and precise advice making your experience a simple non-complicated process.