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What should a director do upon becoming aware that a company is insolvent?

Published: 06/01/2022 By Jane Price

A director has a duty to act in the best interests of the company, creditors and shareholders at all times. Continuing to trade and incurring debts when the company is, or will soon be, insolvent could result in the director becoming personally liable should the company go into liquidation.
 
A director should seek advice from a qualified insolvency practitioner as soon as he or she becomes aware that the company is, or may soon be, insolvent. As licensed insolvency practitioners we are able to provide remedies and procedures only available to members of our profession. If you want to save your business we will almost certainly have a solution to suit your needs.

Act now and get in touch today, we are often told we wish we came to you sooner!

Have a look at our Restructuring a company page to see some of the different options that may be available to you.

Call 020 8661 7878 or email insolvency@turpinba.co.uk