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Directors' responsibilities in times of financial distress: how to mitigate against personal liability

When a company faces financial distress or the possibility of insolvency, the responsibilities of its directors shift significantly. The greater the company’s financial difficulties the more priority directors should give to creditors’ interests over that of the shareholders.

Preparing for a Members’ Voluntary Liquidation (MVL)

If you are a shareholder with more than £25,000 in a company and it has come to the end of its economic life, a Members’ Voluntary Liquidation (MVL) is a neat way of extracting the funds and ending the company’s filing requirements

How much will your salary bill increase from April 2025? Download our free Forecasting Tool

Changes announced in the 2024 Autumn Budget will significantly impact employer wage bills from April 2025.

Insolvency procedures for UK law firms

When a law firm cannot avoid insolvency, there are a number of steps to be taken and it is important to act promptly to avoid intervention.

At the point an insolvency practitioner is engaged, there are a number of questions that must be asked before a decision is made as to the most appropriate insolvency procedure for an insolvent law firm to enter into.

Landlords: what can you do when your corporate tenant becomes insolvent?

If property you own is occupied by a corporate tenant who enters into an insolvency process, there may be restrictions on the way you can recover debts and minimise future losses.

Armstrong Watson makes key appointment welcoming new Restructuring and Insolvency partner

Armstrong Watson is delighted to announce the appointment of experienced Restructuring and Insolvency partner Lindsey Cooper.

Retention of title clauses: supplier protection for unpaid goods

If your business supplies goods, there is always a risk that you will not get paid. By default, once you sell goods they belong to the customer, whether or not they have paid for them, and the customer owes you the purchase price. But what if your customer refuses to pay or becomes insolvent. This is where the existence of a retention of title (ROT) clause is vital.

Armstrong Watson becomes first UK accounting firm to join Institute of Customer Service

Armstrong Watson is is aiming to be recognised as  “the best financial advisory firm to deal with, delivering the best client experience in the UK" and has become the first accounting firm to join The Institute of Customer Service

What are the risks for a company director signing a personal guarantee?

When a personal guarantee is given by a director it means that that person can become personally liable for the company’s debts if the company cannot meet its obligations. How can a director can protect themselves from personal guarantee risks? 

How to close down an insolvent charity

As many charities are faced with increased costs and reduced income, trustees must be vigilant in ensuring that their organisation is in a sound financial position to achieve its goals. If this is not the case, there are steps that should be taken to minimise damage to all interested parties.