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Solvency Solutions (South East) LLP

Solvency Solutions (South East) LLP locationHaywards Heath, West Sussex

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Solvency Solutions (South East) LLP Company Description

Company Description

We provide insolvency solutions to individuals and companies looking for advice on insolvency related matters including voluntary arrangements (company and individual) (CVA and IVA), bankruptcy and liquidation. We also advice on winding up solvent companies for tax reasons also known as Members Voluntary Liquidation or MVL including Section 110 reconstructions. Initial meetings are free and confidential and without commitment.

Please note I am a chartered accountant and licensed insolvency practitioner - I am not a lawyer but this is the nearest category Bark will give me.

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Creditors voluntary liquidation (CVL)

A winding up of a company initiated by the directors and endorsed by the shareholders when the company is insolvent (can't pay all its debts).

Members voluntary liquidation (MVL)

A liquidation usually for tax reasons when a company is solvent (can pay all its bills). This can be an efficient way of extracting money from a company which is no longer needed or where the directors want to retire or do different things.

Individual Voluntary Arrangement (IVA)

An alternative to bankruptcy for sole traders or partnerships running a business which is struggling or for people with personal debt. It is a structured agreement between the debtor and their creditors to agree a method to repay all or part of the debt over time or by a one-off payment.

Creditors Voluntary Arrangement (CVA)

Similar to an IVA but for companies who need a breathing space to restructure their business and repay creditors all or part of their debt over time.

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