Insolvent Companies ...
who they are, what they did, who to contact.
The "Insolvency Report" service provides details of all* liquidations, receiverships, administration orders and winding-up petitions served in England, Scotland and Wales on those companies in financial difficulty or those being wound up voluntarily.
This information is vital to expressing an interest to buy out a company, also to find out when and how their assets will be disposed of and to register your interest in any future insolvencies the practitioner may be handling. We give you the name of the company, area of registered office, nature of business, and the date and type of insolvency. The "Insolvency Report" also provides you with crucial contact information (i.e. name, address, telephone number and website address) of the individual practitioner(s) handling the insolvency.
For the convenience of subscribers, the insolvency information is available in a variety of formats:
- Hardcopy - delivered by post directly to you, every Wednesday (Gold subscribers only)
- E-zine - view online, with keyword search and access to back issues or download and print a copy. If you have not yet registered you can still view a sample Insolvency Report magazine in pdf format.
- Fully searchable database - Search for insolvent companies by name, area, nature of business, date of insolvency, etc. You can even search for "active" practitioners. i.e. those who have handled an insolvency since a date you specify.
- Email alert - simply register your categories of interest on our website and email alerts will be automatically sent to your inbox on a daily basis.
Once a company has been declared insolvent, there are a number of different procedures which may be implemented to either wind the company up and pay off it's creditors, or keep it trading until a buyer can be found. Below is a brief description of the different types of insolvencies included in the weekly "Insolvency Report":
- Liquidation - The procedure whereby the assets of a company are gathered in and realised (i.e. converted in to cash) the liabilities met, and any surplus redistributed. Liquidations may be either voluntary as in the case of a "members" liquidation, or forced, as in the case of a "creditors" liquidation.
- Administration - An alternative to liquidation, which allows the company to carry on trading. An Administrator is appointed to oversee the operation of the business and is responsible for acting out decisions on the company.
- Receivership -This is a procedure in law where a creditor places security over a company's assets to ensure that a debt is repaid. At one time widely used, but now administration seems to be the preferred option.
- Winding-up Petition - When a company is unable to meets it's financial obligations, a creditor may apply to the court to have the company wound up. When the petition is issued by the court, this is often the first signal to the outside world that a company is in financial difficulty. In many cases a winding up petition will be followed by the company entering into one of the above three procedures, and the eventual winding up or change of ownership of the company.
More information on insolvency terms and procedures: Auction & Insolvency Guide.
* Not dormant or non-trading companies