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Providing clarity and direction in the complexities of insolvency

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Crystal Clear Insolvency

There are several procedures available to insolvent companies: Administration, company voluntary arrangements (CVA) and administrative receivership are solutions that offer the potential for rescue.

A company often prefers to continue trading via one of these processes to preserve value and retain customers.

However, if rescue is impossible, the company may be liquidated. This involves the company’s assets being turned into cash and distributed among its creditors and usually results in the termination of the company’s business activities.

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Navigating Insolvency Procedures and Methods

Depending on the procedure, the insolvency process can be initiated by banks and lending institutions, the company’s creditors, the courts or by the directors or shareholders of the company itself.

Any insolvency procedure aims to extract the greatest value for the benefit of the company’s creditors. The company’s circumstances and the availability of its assets will determine which method is used to achieve that aim.

When a company is in financial difficulty, it’s advisable to seek advice immediately from someone who understands the process and can give independent and straightforward advice.

“We must all obey the great law of change. It is the most powerful law of nature.”


– Edmund Burke
Crystal Clear Insolvency

Areas of Practice

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01

(“CVL”) Creditors Voluntary Liquidation.

Quickly removes creditor pressure.

  • Stops further legal action.
  • Can provide the lifeline a ‘business’ needs to continue trading under a different legal entity.
  • Allows your employees to claim their unpaid wages and redundancy pay from the government.
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02

Compulsory Liquidation

Compulsory liquidation is the most serious insolvency procedure that an insolvent company may find itself in. It occurs when a winding-up petition is issued against the company (usually by a creditor of the company) and a winding-up order is issued by the courts, who then appoint a liquidator (either an ‘official receiver’ or insolvency practitioner) to begin the involuntary liquidation of the company.

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03

Members Voluntary Arrangement
TAX EFFICIENT

Where more than £25,000 is to be distributed to shareholders.

QUICK CASH RELEASE

Subject to shareholders indemnity we don’t have to wait for HMRC clearance.

FAST

We will aim to distribute funds to you within 7 days of receipt of your cleared funds.

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Don't wait, call us today!

02071 759 730

or write an e-mail

info@ljbsolutions.co.uk

Crystal Clear Insolvency is a trading name of LJB Solutions Ltd Company Number 8498036

Registered office 8 Ivegate Yeadon Leeds LS19 7RE