There are many different reasons why a company finds themselves in a position of corporate insolvency – and it is more common than you may think. An insolvent company is one that is unable to pay its debts and there are three common procedures associated with this: voluntary administration, liquidation and receivership. The experts at Salerno Law are here to talk you through your options to help you find the best solution to suit your business needs.
Our Commercial Lawyers Can Help With Commercial Insolvency Matters
We live in volatile financial times, and it’s true that no sector is immune to the economic issues we face. Salerno Law has been providing clients with expert legal solutions since 2003, and offer a tailored service that truly reflects the needs of your business and the position you are in. We understand the importance of accurate legal advice and the effect this can have on your business in the long-term. Each and every one of our clients is unique and we work to form personal relationships based on mutual trust and commitment. Our team of expert lawyers care just as much about the outcome as you do, which is what sets us apart from the rest. We work tirelessly to ensure you get the best results possible.
Being placed into receivership, administration or liquidation can have a devastating impact on your business. Salerno Law works with your company to take the stress out of the matter and find the most practical and cost-effective solution for your needs.
- Liquidation: this involves releasing all your company’s assets to cover your debts. A liquidator is appointed to determine their value and sell them. The company is then deregistered.
- Voluntary Administration: this is a process in which a company appoints a voluntary administrator to take over and make recommendations about the company’s future.
- Receivership: this most commonly occurs when a receiver is appointed by a secured creditor who holds security over some of the company’s assets.
Our team of professionals at Salerno Law will take you through the options available to your business and put forward sound legal advice to see you through your situation in most positive manner. We are passionate about getting results and care just as much as you do about finding the most beneficial legal solution for your situation. Simply give us a call today to get the best legal advice for your business.