Insolvency Solicitors

Employees may be owed wages, holiday pay, redundancy pay or other sums when a company becomes insolvent.

An insolvent business may still be rescued or restructured if advice is taken early enough.

Administration is usually focused on rescue or preserving value, while liquidation brings a company to an orderly close.

A winding up petition is a serious court application by a creditor seeking to force a company into liquidation.

Company debts usually belong to the company, but directors can face personal risk in some situations.

If your business cannot pay its debts, early advice can help you understand your options, duties and risks.

Being insolvent means you cannot pay debts as they fall due, or your debts are greater than the value of your assets.