UK personal insolvencies hit six-year high because of a record number of IVAs

UK personal insolvencies hit six-year high because of a record number of IVAs The number of people declared insolvent hit a six-year high in the three months to June as the squeeze from high inflation, meagre wage rises and benefit cuts hit the finances of low-paid workers. Individual insolvencies totalled 28,951 in the second quarter, […]

What is an Insolvency Practitioner?

Insolvency Practitioner term (IP) is refering to the accredited and acknowledged professionals with appropriate experience, such as QUABBALA, that act in relation to an insolvency individual, partnership or company, in accordance with the statutory regulations laid down in The Corporate Insolvency Act, 2017 and the new rules approved thereupon. IP´s are required to act with integrity, objectivity and impartiality […]

What does restructuring mean in business?

What does restructuring mean in business? Business restructuring is a corporate management term that often related to debt, ownership, operations and structures. The reasons of business restructuring are not only for corporates that are suffering management risk or financial distress but are often related to the corporate demand of a sale or merger, employee buyout, […]


When a company enters insolvency it is vital to understand the different classes of creditors and the order of priority applicable. There are three main types of creditors: Secured creditors Those who hold security over the company assets. They are generally banks or asset-based lenders with a legal charge registered at Companies House, which can […]

CVA – Company Voluntary Arrangement

A CVA is essentially a legal binding agreement between an insolvent company and its creditors. This agreement allows a company in financial difficulty to reach a voluntary accord with its business creditors regarding repayment of all or part of its corporate debts out of future profits over a period of time to be agreed, usually 3-5 […]

What is loan refinancing and how does it work

  What is loan refinancing? Loan refinancing is a time-consuming process and the borrower might suffer bigger risk and worsen conditions from the new loan than the original one, however there are also potential benefits to loan refinancing: Loan refinancing is when the borrower replaces the original mortgage for an existing loan with a new […]

What is an insolvency petition procedure?

An individual can file insolvency / bankruptcy petition application only when the liability exceeds the one´s assets in order to present it in the court stated that one is impossible to pay the debt. An insolvency petition procedure can be summarized as follow: Firstly, filling the relative forms. In the United Kingdom, the forms for […]


Statements of Insolvency Practice (SIPs) are issued to insolvency practitioners by the recognised professional bodies and the Insolvency Service with a view to maintaining high standards in insolvency work by setting out basic principles and essential procedures with which London insolvency practitioners are required to comply and harmonising their approach to particular aspects of insolvency. […]

What is the difference between liquidation and insolvency?

Simply put these terms amount to the same thing – the inability of a business to pay their debts – but it´s important to understand the differences between liquidation and insolvency. Insolvency can be considered a financial “state of being”, when a company is unable to pay its debts or when it has more liabilities […]


An Individual Voluntary Arrangement (IVA) is a procedure available to insolvent individuals. It is an agreement between a debtor and his creditors where the individual makes contributions towards repayment of their debts over a number of years. This arrangement may be entered into either before or after a bankruptcy order has been made. Generally the […]