Posts Tagged ‘debt’
Insolvency and debt recovery specialists
Last month, the Government lifted the insolvency restrictions introduced to combat the Covid-19 pandemic. In particular, the repeal of Section 10 of the Corporate Insolvency and Governance Act 2020 (CIGA) should please creditors. Creditors were still able to obtain winding-up orders. However, Section 10 of the act compelled them to: Only pursue debts of £10,000…
Read MoreCongested courts the only option for debt enforcement
While the restricted use of statutory demands and winding-up petitions will provide a lifeline for many struggling companies, the move also forces creditors chasing overdue debts into an already overburdened court system. As it stands, the only remedy to enforce payment of a debt is through a High Court enforcement officer. You may send out…
Read MoreStat demands and winding-up petitions post Covid-19
The Government’s decision to suspend the filing of Statutory Demands and Winding-up Petitions is a huge blow for creditors seeking to collect payment of outstanding debts. As a result of the Corporate Insolvency and Governance Act, a creditor’s only debt enforcement remedies are through the county court via either a bailiff or a third-party debt…
Read MoreHow Are Winding Up Petitions Dismissed and Withdrawn?
Cardiff City Football Club was celebrating last week after having their winding-up petition dismissed at the High Court.The Bluebirds settled their £1.9m tax bill with Her Majesty’s Revenue and Customs (HMRC) on Wednesday following seven months of financial turmoil.
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