Other Important FAQ’s
If you suspect your company is in financial difficulty, it is important that competent insolvency advice be obtained as early as possible.
A common reason for liquidation of companies is that insolvency advice was sought too late.
By delaying the decision to seek professional advice and having a ‘head in the sand’ attitude, directors are doing themselves a dis-service as they often leave themselves with no other option but to wind up their company.
Obtaining competent insolvency advice early may lead to non insolvency related options such as restructuring, refinancing or obtaining equity funding to recapitalise a company. It may also lead to appropriate insolvency solutions such as a Voluntary Administration, Deed of Company Arrangement or Voluntary Liquidation.
Liquidation Direct suggests insolvency solutions only where it is appropriate to do so. If there are alternate, non insolvency options, we will refer you to other providers who will be able to provide a more appropriate solution for your situation.
Defences to Insolvent Trading
There are defences to insolvent trading claims available to directors however they are difficult to access.
Briefly, the defences are;