When a company is trading and healthy, corporate responsibilities are all to often put at the end of the list of things to do.
Like bankruptcy the key legislation for company insolvencies is the Insolvency Act 1986. That legislation dictates how companies are shut down. It also defines the responsibilities of the directors to the company.
Whilst there are many similarities between the bankruptcy and insolvency regimes, there are differences too.
It is always important to understand where one stands, whether it is a director for a company or a creditor who a company owes money too.
We can assist that understanding.