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Wrongful Trading v Insolvent Trading: know the difference

While the two terms sound similar, it is Wrongful Trading that is the one to watch. Under Section 214 of the Insolvency Act 1986, Wrongful Trading is unlawful. By contrast, trading while insolvent, or Insolvent Trading is not necessarily unlawful. Insolvent Trading can be used as evidence of a case of Wrongful Trading. (more…)

Category : Corporate Insolvency,Insolvency news — Tags: , — admin @ 10:18 am March 22, 2010

Small pension holders now eligible for debt relief orders

Under new government plans, people in financial difficulty will be able to write off their debts more easily. The proposals, put forward by the Department for Business, Innovation and Skills, mean that people with small pension pots will now be able to apply for Debt Relief Orders (DROs). (more…)

Category : Insolvency news,Personal Insolvency — Tags: , — admin @ 10:15 am

More men than women declared bankrupt

According to the statistics compiled by the debt charity Consumer Credit Counselling Service (CCCS), men are more likely to become insolvent than women. (more…)

Category : Insolvency news,Personal Insolvency — Tags: , — admin @ 10:27 am March 20, 2010

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