Insolvency

Agenda

• Introduction
• A brief outline of ways in which companies can create risks and how these can be identified, managed and reduced. How companies can be 'killed off' will discussed.
• The features, advantages and benefits of each method.
• The preparatory steps before pursuing the appropriate choice.
  1. Section 652
  2. Section 652A
  3. Members voluntary liquidation
  4. Stage1, stage 2 and stage 3 (dissolving)

Stage 1

To review the suitability for a striking off -s652 or Members Voluntary Liquidation (MVL) - the history, employees, property, tax considerations, never traded.

It will not give specific tax advice.

Stage 2

The sifting of companies - into the waiting room:

• for time expiration of tax arrangements.
• The re-registration of registered and unregistered property interests- for example land and buildings, intellectual property rights, business agreements and domain names.
• Possibly change of name - for commercial or other reasons

Stage 3

Take the referrals from stage 1 and completed stage 2 and action via s652 , MVL or even Creditors Voluntary Liquidation ( CVL) as appropriate.

All these are fairly simple processes but time consuming.

However it is a way of identifying risks, evaluating them and reducing them in a cost and time effective manner.