Like so much else surrounding Brexit, uncertainty is the name of the game for any business trying to take steps to prepare for 29th March 2019, in particular when predicting the impact Brexit will have on operating cash flow.
In some situations, there may be no other option but to take swift aggressive action in the form of Winding up and Bankruptcy Petitions.A Winding up demand will be sent to the debtor company's registered office requesting payment in full within a strict deadline.
If no response is received, then a Winding up Petition will be prepared and issued the same day at the firm's local High Court and served at the debtors registered office.
The team will ensure all compliance issues are completed and if necessary, we will arrange a local counsel to attend the hearing to seek the relevant order.
In the case of individuals, a Statutory Demand in Bankruptcy will be prepared and personally served upon the debtor, allowing them 21 days from the date of service to make payment.
Should this not prompt a response, then a Bankruptcy Petition will be presented at the debtor’s local court.
Again, the team will ensure all compliance issues are completed and if necessary, arrange for local counsel to attend the hearing to seek the relevant order.
Given the scale and importance of the manufacturing sector to the UK, it’s vital that those businesses that are part of it are as healthy as possible. With Brexit on the horizon, and no certainty about what the build-up to it will look like for manu…
In the current economic climate, ground rent is becoming a valuable source of income, therefore when it comes to non payment of ground rent, quick recovery is crucial.