Whether you or your business are experiencing financial difficulties, or you are looking for tax-efficient exit planning, our Business Recovery and Insolvency team can help provide frank and proactive advice on the options available to you.

How can we help you?

Insolvency

Creditors' Voluntary Liquidation

A Creditors Voluntary Liquidation (CVL) is the most common insolvency procedure often utilised when a company is in severe financial difficulties.

We assist directors to navigate the procedure to place companies into CVL, and then act as Liquidators becoming the custodians of the business.

We pride ourselves on providing an excellent and valued service and undertake many CVLs each year. Please contact a member of the team below to discuss your needs today.

Administrations

An Administration is a common 'rescue' tool available when a company is experiencing financial difficulties. Administrations have the benefit of the 'moratorium' preventing creditors from taking action against a company without the leave of the court.

There are three statutory objectives, of which one must be satisfied to enable an Administration to take place. We often assist directors to implement an Administration and then become the appointed Administrators, becoming the custodians of the business.

We pride ourselves on providing an excellent and valued service and have a track record in acting as Administrators. Please contact a member of the team below to discuss your needs today.

Company Voluntary Arrangements

A Company Voluntary Arrangement (CVA) is a procedure available when there is likely to be a greater return to creditors from continuing to trade than in a winding up. The CVA acts to bind all creditors to the terms of the proposals.

The proposals are drafted and issued to creditors to consider. If creditors vote to approve the proposals, an Insolvency Practitioner is appointed as the Supervisor to ensure the terms of the proposals are adhered to and collect any contributions for creditors.

We assist directors to draft proposals, act as Nominee and act as the appointed Supervisors of any approved arrangements.
We pride ourselves on providing an excellent and valued service. Please contact a member of the team below to discuss your needs today.

General insolvency

Insolvency will have an impact on most businesses during their lifetime. Whether it is in the form of a period of short-term cash flow, a customer entering into a CVA or the need for formal restructuring, we are here to help and advise when such issues arise.

We have experience with advising on a vast range of issues including retention/reservation of title, disputes or informal wind down. Please get in touch so that we can understand your issue and advise on appropriate steps going forward.

Personal insolvency

There are several options available to individuals who are suffering financial distress. The suitability of those options is very much down to the specific circumstances.

We are experienced Insolvency Practitioners who can advise on the options available including Bankruptcy, Individual Voluntary Arrangement (IVA) or informal arrangements.

Solvent liquidations

A Members Voluntary Liquidation (MVL) is a solvent procedure used at the end of a Company’s life.

This could be after the sale of a business and assets or pending retirement of an owner managed business.

Often the use of a MVL enables capital to be returned to Shareholders in the most tax efficient manner as opposed to funds being distributed before a strike off.

We can assist you to extract funds from your business in a timely manner whilst retaining your current professional advisers.

We pride ourselves on providing an excellent and valued service and undertake a significant number of MVLs each year. Please contact a member of the team below to discuss your needs today.

Many aspects of business recovery and insolvency are complex and involve the understanding and proper interpretation of the law.

Our Insolvency Practitioners have combined experience in excess of 50 years in the industry and are happy to have no obligation discussions or initial meetings to understand your issues.

For tailored advice to your own situation, please contact a member of the team and we will be happy to assist you.

Contact the team

Understanding you and working with you

When you are faced with financial worries, time is of the essence. The sooner we are able to understand your situation, the more likely it is that we can provide potential solutions to avoid a cessation of your business.

Alternatively, if your business is solvent and you are looking for tax-efficient exit planning, we can help you find the most appropriate way to distribute funds to Shareholders.

We have extensive experience advising limited companies, partnerships and sole traders and can provide flexible advice to suit your situation.

We are happy to have an initial meeting that will be free of charge. At this meeting we will gain an understanding of your circumstances and advise the potential options available to you and how to move forward.

Useful links

Insolvency portal

Technical guides

Featured news

Business Recovery and Insolvency update: Hazlewoods celebrates new Insolvency Practitioner qualification

Wednesday 9 February 2022

Hazlewoods is pleased to announce the qualification of Nicholas Stafford as a licensed insolvency practitioner (IP).

Business Recovery and Insolvency update: Change in HMRC preferential status

Tuesday 3 November 2020

Changes are afoot as regards HMRC’s preferential status. Many will recall that HMRC used to have preferential status, albeit limited in terms of the age of the tax debt.

Business Recovery and Insolvency update: Extension of Corporate Insolvency and Governance Act 2020

Monday 5 October 2020

In line with the extension of Government support schemes to assist Directors to navigate these unprecedented times, the Act has been extended in certain areas, including:

Business Recovery and Insolvency update: Return of the Zombies?

Tuesday 11 August 2020

Many commentators have been referring to the risk of so-called ‘zombie companies’, those being debt ladened but kept afloat by low interest rates and financial bailouts currently available from the Government.

Insolvency update: Corporate insolvency and governance bill receives royal assent

Friday 3 July 2020

The corporate insolvency and governance bill (the bill), received royal assent on 25 June and is now an act. This signals the single largest change to the corporate governance and insolvency framework in the past two to three decades.

Planned changes to UK insolvency rules to help businesses

Monday 30 March 2020

The Government’s Business Secretary, Alok Sharma, has announced a commitment to change insolvency laws so that if a business is unable to meet its debts, due to the impact of coronavirus, then they cannot be forced into an insolvency procedure, for example, liquidation or bankruptcy

Considering insolvency during the COVID-19 crisis: take a deep breath

Tuesday 24 March 2020

In these uncertain times, if you find your business in financial crisis, you may consider insolvency. However, the advice from Hazlewoods Business Recovery and Insolvency team is to be bold and take a breath.