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Tuesday, 19 February 2013

Insolvency Service cracks down on rogue operators

There are always some companies and websites out there who encourage directors to break the rules to make a fast fee.   These websites tend to not have any proper contact details and are a bit vague as to exactly who they are.  However, the Insolvency Service is quick to shut them down.

See the latest case.

http://insolvency.presscentre.com/Press-Releases/Three-Ambulance-Chasing-companies-brought-to-a-halt-by-the-Insolvency-Service-687d9.aspx 

Generally if sounds to good to be true then it usually is.  Just remember that in insolvency situations the directors have a duty to act in the best interests of the creditors.  Yes, trying to save the company is often in the best interests of the creditors but it has to be done in a fair way and by the book.

In the end make sure you are dealing with a reputable company who can offer the right advice such as licensed insolvency practitioners.

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Many thanks for your comments. If you have a private business problem and you want advice give us a call on 0800 9700 539 or email me at keiths@companyrescue.co.uk. If you are a professional advisor with a troubled client, please suggest they visit www.companyrescue.co.uk or contact me as above.

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