Currie Young Insolvency Practitioners are vastly experienced in a variety of business sectors of all sizes, so whatever your debt problem, we are ready to assist. We believe in working closely with all stakeholders and providing honest, straight forward advice in order to alleviate the stress often felt in situations of financial distress.
By taking this approach we will, in our experience, achieve the best possible outcome. A CVL (Creditors Voluntary Liquidation) is a Director controlled process and is the most common way for Directors of a company to deal with the company's insolvency. A CVA (Company Voluntary Arrangement) is a formal insolvency process used as an alternative to Liquidation.
By taking this approach we will, in our experience, achieve the best possible outcome. A CVL (Creditors Voluntary Liquidation) is a Director controlled process and is the most common way for Directors of a company to deal with the company's insolvency. A CVA (Company Voluntary Arrangement) is a formal insolvency process used as an alternative to Liquidation.
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Currie Young Limited was founded in 2015 by Steve Currie following an extensive career with several national practices. Our team are all from a 'Big Four' background and includes three qualified Insolvency Practitioners and we are dedicated to finding the best possible solution for businesses or individuals experiencing financial problems.
The Liquidator will realise the company's assets and distribute these to the shareholders. Distribution may be either in cash or assets (in specie). There are many reasons why the shareholders may seek an MVL but primarily it provides an orderly and efficient winding up of the company's affairs and may provide an efficient way for shareholders to realise the value of their company.
A Company Voluntary Arrangement (CVA) is a formal insolvency process used as an alternative to Liquidation. It allows a company to put forward a proposal to pay all or part of its debts, which must provide a better outcome than the alternative, usually Liquidation. A CVA is usually funded by trading profits but can also be funded by the introduction of additional capital.
If you are unable to pay your tax liabilities when they fall due, you may be able to negotiate a Time to Pay arrangement with HMRC - which is designed to assist fundamentally viable businesses which are experiencing temporary cash flow issues. A Time To Pay arrangement is a way of settling arrears of corporation tax, VAT and PAYE over a longer period.
Administration is a procedure which places the company under the control of an Insolvency Practitioner and provides protection from ongoing or future legal proceedings. Achieving a better result for the creditors as a whole than would be likely if the company were wound up without first being in administration.
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