Latest News

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.

Lindsey joins the firm after 22 years as a partner at RSM - where she headed up the North West and Northern Ireland Restructuring and Insolvency team - and brings with her more than 30 years’ experience in the field.

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.

3 challenges facing charities in 2024 and how to address them

Increased operating costs, increased legal obligations and cyber security threats are amongst the variety of challenges currently facing charities and those in the not for profit sector.

Changes to redundancy payment claims for directors

When a company enters an insolvency procedure, often the only positive outcome for directors and shareholders is if they can receive compensation for unpaid wages, holiday pay, pay in lieu of notice and redundancy, however, the Redundancy Payments Service has changed its stance on directors' claims. 

What is a pre-pack administration and would it be appropriate for my company?

The administration process is designed to protect a company from creditor pressure, in order for a licensed insolvency practitioner to consider whether it is possible to achieve a better return for creditors than would be likely if the company were to be wound up.

Steps to take when a law firm cannot avoid insolvency

Several issues can lead to a law firm’s financial instability, and in some cases, actions can be taken to improve performance. However, sometimes a firm’s debt is just too large to make survival possible. What are the next steps? 

What are the alternatives to bankruptcy?

When most people think of an individual becoming insolvent they think of bankruptcy, but according to the latest quarterly statistics for Q3 2023, only 8% of insolvent individuals were made bankrupt. Out of a total of 24,418 insolvencies 2,015 were bankrupted.