Cover image for Insolvency and Financial Distress : How to Avoid it and Survive it.
Insolvency and Financial Distress : How to Avoid it and Survive it.
Title:
Insolvency and Financial Distress : How to Avoid it and Survive it.
Author:
Finch, Brian A.
ISBN:
9781408153970
Personal Author:
Edition:
1st ed.
Physical Description:
1 online resource (140 pages)
Contents:
Cover Page -- Title Page -- Contents -- Preface -- Introduction -- Chapter 1: Knowing you have a problem -- Legal action -- 'Not yet' -- The letter from your accountant -- The audit opinion -- Common causes of financial distress -- Legal disputes -- What to do -- Chapter 2: Dealing with the stress of financial distress -- Human causes -- Human consequences -- Chapter 3: Avoiding Insolvency -- A digression: the immediate and urgent -- What are the options? -- Chapter 4: Practical Problems -- Cessation of service and supply -- Dealing with tax authorities -- Dealing with landlords -- Dealing with banks -- Dealing with bailiffs -- Credit ratings -- Retention of title -- Winding-up petition -- Chapter 5: Alternatives to Insolvency -- Company restructuring -- Raise new funds -- Tax benefits for investors -- Sell the business -- Compound with creditors -- Chapter 6: Types of Insolvency and terms used -- Preparing for insolvency -- Administration -- Receivership -- Administrative receivership -- Members' Voluntary Liquidation -- Creditors' Voluntary Liquidation -- Creditors' Compulsory Liquidation -- Landlords' rights in insolvency -- Chapter 7: Using administration to save your business -- The pre-pack -- Evaporation of value -- Finding an administrator -- Costs and other issues of administration -- Complaints -- Chapter 8: Implications for Directors -- Fraudulent preference -- Wrongful trading -- Corporate governance -- Chapter 9: Starting Again -- Getting a bank account -- Utilities -- Suppliers -- Chapter 10: Practical steps for investors, creditors and employees -- Shareholders -- Creditors-what to do -- Detailed actions -- Enforcement -- Debtors and county court claims -- The statutory demand -- What a debtor should do about a statutory demand -- Interest on late payment -- Recovering money from an insolvent company -- Landlords.

Employees: what happens, what to do. Pensions. -- Chapter 11: Buying from an administrator -- Buying your own business -- Buying an unconnected business -- Characteristics of purchase from administration -- Chapter 12: Getting help -- Relevant websites -- Relevant legislation -- Acknowledgements -- Glossary -- Footnotes -- Imprint.
Abstract:
Avoiding insolvency is a key challenge for any business: even in good economic times, one in three small businesses goes bust annually, and in the current challenging climate, many companies are facing financial distress. Full of practical advice, this book will help business owners and directors cope with the threat of insolvency effectively.
Local Note:
Electronic reproduction. Ann Arbor, Michigan : ProQuest Ebook Central, 2017. Available via World Wide Web. Access may be limited to ProQuest Ebook Central affiliated libraries.
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