There has been a marked increase over the last few months in those seeking independent and experienced advice about the financial condition of their business because the overt signs are that the business has, or anticipates in the near future, trading difficulties that are likely to create cash flow...

When consulting with a director about company matters, it is quite common for words such as “me” and “my business” to be used because a director often thinks/acts as if the entity is him and often requires to be reminded that a company is a separate legal entity.  Of...

July 2022 At the end of last month the Committee of Advertising Practice “CAP”, the organisation that writes the advertising rules which are enforced by the Advertising Standards Authority issued an Enforcement Notice “EN” regarding debt management adverts placed by insolvency practitioners and companies who generate leads which are...

May 2022 Other than writing about the current Russian incursion into Ukraine, current media attention tends to be focused upon terms such as “ rising inflation”, “cost of living crisis”, “eat or heat”, “interest rate rises”, and “fuel poverty”. It may not take many more months until we start...

April 2022 Much has been reported in the media over the last few months about a company obtaining a bounce-back loan and the director(s) not using it for the intended purpose of preserving the economic entity.  For example, there have been reports of a director negotiating a bounce-back loan...

March 2022 It is often said that “desperate times lead to desperate measures” and in times of financial hardship, there always seem to be plenty people who will take advantage of a situation to the detriment of others. One often reads about theft of money through fraud or other...

February 2022 As we canter towards the end of the second month of 2022, the Meston Reid & Co insolvency team has already assisted a number of companies to enter an insolvent liquidation process, with many directors citing the ongoing effects and challenges of Covid-19.  Several other entities have...

Very few people want to experience financial difficulty but it can happen quite easily and quickly, sometimes as a result of matters outwith your control e.g. redundancy, relationship breakdown or overspending at this time of year.  It is not uncommon for someone to use a traditional credit card or...

Perhaps the description above is not heard very often, but many tasks are undertaken by a licensed insolvency practitioner “IP” that, arguably at least, fall into such definition. At this time of year when we hear much about helping those less fortunate than ourselves and are exhorted to show...

Although one reads in the media about a lower level of unemployment than the Government had anticipated and a relatively positive economic outlook, the number of queries received by the Meston Reid & Co insolvency team “ the team “ suggests that there are plenty people who have either...