When Liquidation is Inevitable: A Bad Faith Business Rescue Application Backfires
“If you’re flogging a dead horse, make sure you’re not riding it.” (Josh Stern) Creditors and company directors alike need to know how best to deal with a company in financial distress. Both should learn to recognise the difference between an enterprise that has failed beyond resuscitation, and one that, given a chance, can be […]
What Can You do When a Director Deadlock is Killing Your Company?
Occasional disagreements are inevitable in all relationships, but when they spiral out of control to the extent that the directors of a company go to war with each other, the resulting deadlock can make it impossible for the company to continue operating. How can you avoid that happening to your company, and what should you […]
Ponzi Schemes: Can liquidators claw back 600% of payouts?
Recent media reports of the MTI (Mirror Trading International) liquidators making repayment demands of investors highlight once again the dangers of falling for “too good to be true” investment schemes. The problem is that by their very nature, all pyramid schemes (including “ponzi” schemes) eventually fail, leaving the vast majority of investors with nothing but […]
Debtor Not Paying? Consider a Liquidation Application
“When debtors once have borrowed all we have to lend, they are very apt to grow shy of their creditors’ company” (John Vanbrugh) Bad debt is a major issue for many businesses in these hard economic times – not taking robust steps to collect it could be fatal to your own financial position. So if […]