0800 313 4331 consult@interco.com

Protect Director

Protect DirectorInsolvency Solutions Protect Director

 Protection of client Directors from personal liability is the first priority of Insolvency Solutions. Before actioning a CVL, or CVA, we will identify your vulnerability to such claims as wrongful trading, overdrawn directors account and personal guarantees and work with you to remove, or minimise, liabilities and challenge any claims.spacer

 

AVERT CLAIM OF WRONGFUL TRADING

 When fighting off threats, Directors can sometimes break insolvency rules leading to disqualification as a Director or fines. Late repayment of a temporary cash injection can unexpectedly be classified as a fraudulent preference and- once insolvent- just “paying today’s Peter and not yesterday’s Paul” can lead to claims of wrongful trading !

 We can often counter such matters by an analysis report, showing the Director was acting in the general interest of creditors, or before insolvency was recognised. No action would then be taken against you by the Liquidator, or Insolvency Service.

Protection of client Directors from personal liability is the first priority of Insolvency Solutions. Before actioning a CVL, or CVA, we will identify your vulnerability to such claims as wrongful trading, overdrawn directors account and personal guarantees and work with you to remove, or minimise, liabilities and challenge any claims.

AVERT CLAIM OF WRONGFUL TRADING

When fighting off threats, Directors can sometimes break insolvency rules leading to disqualification as a Director or fines. Late repayment of a temporary cash injection can unexpectedly be classified as a fraudulent preference and- once insolvent- just “paying today’s Peter and not yesterday’s Paul” can lead to claims of wrongful trading !

We can often counter such matters by an analysis report, showing the Director was acting in the general interest of creditors, or before insolvency was recognised. No action would then be taken against you by the Liquidator, or Insolvency Service.

REMOVE AN OVERDRAWN DIRECTORS ACCOUNT

This can be a serious liability. Shareholding Directors sometimes pay themselves advances during the year to be offset later against Dividends. But, what if trading collapses? Drawings become a debt, with repayment demanded by the liquidator.

In such a case we look to apply different possible solutions. These will depend on timing. It may be possible to re-work the company’s last period accounts and file a valid revision, or/and change current period management accounts before ceasing to trade. Where it is too late for such solutions, we apply our strong experience to negotiate a minimised settlement, as exhibited in past client references.

COMBAT AND DEFER PERSONAL GUARANTEES

Many loan and lease agreements allow the lender to demand payment from the Director personally without waiting to process a company claim. Hence demands are made quickly. Our assistance includes pre-empting this and buying time for you to decide best action. Where clients do have substantial assets, it is still normally possible to negotiate some level of reduction and extended time to pay.

AVERT DIRECTOR LIABILITIES?

Give me a call in confidence to discuss solutions

Freephone : 0800 313 4331 – Chichester : 01243 624716 – Bromley : 0208 468 1033 or

 

Michael O’Connor M.A Managing Consultant

AVERT DIRECTOR LIABILITIES?

Give me a call in confidence to discuss solutions

Chichester :01243 624716
Bromley :0208 468 1033
or

 

Michael O’Connor
M.A Managing Consultant

Interco Management Services Limited

Forum House – Stirling Rd – Chichester – PO197DN – 01243 624716

1 Bromley Lane – Chislehurst – Bromley – BR76LH – 0208 468 1033

Interco Management Services Ltd

Forum House : Chichester : PO197DN : 01243 624716

1 Bromley Lane : Bromley : BR76LH : 0208 468 1033