Don't delay when it comes to insolvency

PBC

1st January 2019

Focus On Moulton Park

PBC

By Gary Pettit

PBC

DO you know the difference between administration and liquidation? What about a voluntary arrangement in comparison to bankruptcy?

Nobody wants that dreaded notice from an insolvency practitioner saying their customer is entering into an insolvency process. You start looking at what they owe you and what goods (if any) you can recover. It maybe you provide a service such as servicing their website or supplying their telephone system where you may be informed you must continue to supply.

During 2018, PBC continued assisting creditors, which included representation at physical creditor meetings, challenging the conduct of a liquidator and a landlord where administrators tried to demand new occupational terms for an (unwanted) tenant.

Naturally, as insolvency practitioners PBC also take insolvency appointments, which in 2018 included an insolvent deceased estate on the south coast where, quite frankly the widow was very badly advised by her solicitors and an insolvency practitioner with regards to handling the estate after her husband had passed away.

Managing Director, Gary Pettit, said: "There are two distinct messages for business owners and individuals. First, if you receive notice that a customer is entering into an insolvency practice, do not dwell on it. Contact PBC and we can provide the answers to the differing insolvency procedures and assist you with imposing your rights. Secondly, an old request from insolvency practitioners is to seek advice at an early stage. If you believe your business may have some difficulties speak to PBC early on as you may be surprised what options could be available."

PBC Business Recovery & Insolvency offers a first-class service, including a free one-hour consultation to discuss and advise on your situation. Call Gary Pettit on 01604 212150 completely confidentially, email garypettit@pbcbusinessrecovery.co.uk or visit www.pbcbusinessrecovery.co.uk for further information.

PBC