Insolvency

Insolvency occurs when a business or individual can no longer pay debts as they fall due, or when liabilities exceed assets. Depending on the situation, this can lead down several different paths, from informal arrangements with creditors and formal restructuring options, through to more formal processes such as administration, liquidation or, for individuals, bankruptcy or an individual voluntary arrangement.

Recognising financial difficulty early gives far more options than waiting until the position becomes critical, since some routes exist specifically to help a viable business recover rather than close. We can help directors and individuals understand the warning signs, review the options realistically available, and work alongside licensed insolvency practitioners where formal action is needed.