As an insolvency practice, we know the reputation of insolvency professionals amongst business owners. Especially with those who are not familiar with the industry. We know we’re essentially the funeral directors for the business world. But much like dealing with funeral directors, the process you never wanted to go through is a lot less painful....
Insolvency is the catchall term for the processes we carry out at Mercury Corporate Recovery Solutions. However, it can often be confused with other terms such as liquidation and bankruptcy, which both fall under the insolvency umbrella. It’s important for business owners to develop a wider understanding of each of these terms, in order to....
As a director of a limited company, you have several legal responsibilities. If you fail to meet these responsibilities you may be subject to disqualification, which is effectively a ban from being a company director for a specified period of time. To avoid disqualification, it’s important to know the events that can lead to it.....
Corporate insolvency solutions are designed to either wind-up a business or company, or rescue it from financial difficulty. As we explained in our Insolvency vs Liquidation vs Bankruptcy blog, businesses can be considered insolvent when there is enough evidence for one (or both) of the following reasons: Cash flow insolvency: your business does not have....
Trying to ascertain what liquidation is, the different types, and what happens during the process? You’re in the right place. In this post we answer the most common questions about company liquidation. Jump straight to: What is liquidation? What are the types? What is the difference between liquidation and bankruptcy? What happens to assets? What....
A Pre-pack administration is a legal and effective way to rescue a business that is insolvent. Whilst it’s a less common form of insolvency solution in the UK today, it is still the best option for some. Here’s what you need to know to start understanding the pre-pack administration route: The definition of a....
A winding up petition is the precursor to the compulsory liquidation of a business due to a company’s unpaid debts. An outcome no business owner desires. With the costs of running a business higher than ever, paying creditors can be tough if you’re seeing a downturn in sales or trying to recoup unexpected expenses. But....
A Pre-pack administration, or ‘pre-pack’ as it’s often called, is a legal and effective rescue procedure for businesses with significant unpaid debts. There are several reasons why this insolvency route would be beneficial to a company, but in other circumstances it may not be the best route. The only way to know this, of course,....