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Personal Insolvency

Personal Insolvency
  • > Bankruptcy
  • > Individual Voluntary Arrangements
  • > Personal Guarantees

COVID 19 – YOU AND YOUR BUSINESS

We are in unprecedented times and the full consequences of Covid 19 cannot be predicted. One thing which is certain is the current health crisis will have economic consequences that may in turn affect you and your business.

If you are faced with an insolvent debtor there are a number of things which you need to consider –
• What are your contact terms with that debtor and do you have any retention of title provisions which you can rely on?
• Do you have any security for your debt which you can call in – this could include personal guarantees.
• What insolvency process is being proposed for the debtor if any? Not all of these are the same and the consequences for you could be different. This is true particularly for landlords with an insolvent tenant.

If it is your business facing insolvency you need to know what you options are. This will include an analysis of the assets and liabilities of the business and whether there is a viable entity which can be saved via a restructuring route. Can you make use of the current financial reliefs? These may include -
• HMRC time to pay
• Business rates holiday
• Business interruption loan scheme
• SSP packages

Early advice is key particularly if there is an opportunity to renegotiate payment terms with creditors on either a formal or informal basis.

If you are facing personal insolvency there may be support available from HMRC and/or you may be eligible for a 3 month mortgage holiday. Early advice from an insolvency solicitor can be key to understanding what your options are.

For further information please contact either Kathryn Maclennan kmaclennan@kbl.co.uk or Richard da Roza rdaroza@kbl.co.uk

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Personal Insolvency Services

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What our clients say about us

  • I have instructed KBL in relation to a complex Employment matter. Sarah Collier is highly experienced in Employment Law. The client care provided by Sarah Collier and her assistant Sarah Taylor was exceptional and went over and beyond my expectations in the matter. A pragmatic approach was taken in the matter and I achieved the conclusion I was hoping for. Would definitely recommend KBL Solicitors.

    Ismail Limbada
  • We chose KBL due to their specialism in commercial property and their proven work with Max Spielmann stores.

    Steve Thompson, The Fragrance Shop
  • Gillian Hindle has worked on several legal matters for me and I have always found her advice to be sound, timely and crystal clear. In addition, she has always been unfailing polite, attentive and readily available. She is both a consummate professional and a delightful individual.

    Mr Martin Patrick
  • KBL offers pragmatic and effective advice with an exceptional degree of client care.

    Jonathan Warburton, Warburtons Ltd
  • KBL acted on my behalf during a long and drawn-out divorce. They were very supportive, professional and knowledgeable during the 18-month case and provided me with great reassurance throughout this difficult time.

    Mr Hulley
See more testimonials
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KBL Solicitors LLP, a Limited Liability Partnership. Registered in England number OC402496 VAT Reg. No. 421 8505 72 Service provided by solicitors of England and Wales Authorised and Regulated by the Solicitors Regulation Authority SRA Number 627254 www.sra.org.uk

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KBL Solicitors Bolton

New Mansion House
63-65 Chorley New Road
Bolton
BL1 4QR

Tel: 01204 527777 Fax: 01204 388940 E: enquiries@kbl.co.uk
KBL Solicitors Blackburn

12 Cunningham Court
Blackburn
BB1 2QX

Tel: 01254 268790
E: enquiries@kbl.co.uk

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Made in Freshfield

  • Home
  • Business
    • Commercial Litigation
      • Bank & Financial Investment Mis-Selling
      • Business Disputes
      • Construction Disputes
      • Contract / Terms & Conditions
      • Intellectual Property
      • Manufacturing Disputes
      • Mediation
      • Professional Negligence
      • Property Litigation
    • Commercial Property
      • Academy Conversion
      • Acquisitions & Disposals
      • Compulsory Purchase Orders
      • Energy Performance Certificates (EPC’s)
      • Landlord & Tenant Matters
      • Land Tribunal Work
      • Leases
      • Licensed Trade Premises
      • Option Agreements
      • Secured Lending
    • Corporate & Commercial
      • Agency & Distribution Agreements
      • Banking & Lending Services
      • Business Sales & Purchases
      • Commercial Contracts
      • Group & Company Restructures
      • Company Formation & Registrations
      • Joint Ventures
      • Share Options
      • Shareholders’ Agreements
      • Terms & Conditions
    • Employment / HR Support
      • Confidentiality & Post Termination Restrictions
      • Defending & Preventing Harassment Claims
      • Discrimination
      • Employment Contracts
      • HR Advice Service
      • HR Training
      • Policies & Procedures
      • Redundancy
      • Settlement Agreements
      • TUPE / Business Transfers
      • Unfair/Wrongful Dismissal Claims
    • Insolvency
      • Directors Disqualification
  • Personal
    • Divorce & Family Law
      • Child Arrangement Orders
      • Children
      • Civil Partnerships
      • Co-Habitation Agreements
      • Divorce & Your Business
      • Financial Remedy Proceedings
      • Just Living Together
      • Living together – the future
      • Parental Responsibility
      • Pre-Nuptial Agreements
      • The end of a Relationship
    • Employee Rights & Disputes
      • Directors / Senior Executives
      • Discrimination in the Workplace
      • Redundancy Situations
      • Settlement Agreements
      • TUPE for Employees
      • Unfair Dismissal
    • Litigation / Disputes
      • Debt Recovery
      • Financial Services Disputes
      • Professional Negligence
      • Property Disputes
      • Probate Litigation
      • Residential Possession
    • Personal Injury
      • Personal Injury
    • Personal Insolvency
    • Property
      • Buying a house
      • Equity Release
      • Remortgaging
      • Residential Property Disputes
      • Selling a house
    • Wills, Trusts, Tax & Probate
      • Advice for the Elderly Client
      • Court of Protection
      • Inheritance Tax
      • Power of Attorney
      • Probate & Estate Administration
      • Probate Disputes
      • Trust Advice
      • Will Preparation
  • About us
    • Careers at KBL
    • Testimonials
    • Factsheets
  • Meet the Team
  • COVID-19 Support / News
  • Contact us
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T: 01204 527777 T: 01254 268790 E: enquiries@kbl.co.uk
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