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DIRECTOR REDUNDANCY PAYMENT

Not many Directors are aware for their entitlement for themselves to take redundancy payment during insolvency.

 

  • Liquidation
  • Pre Pack Administration
  • Administration
  • Company Voluntary Arrangements (CVA)
  • Receivership
  • Informal Arrangements
  • Individual Voluntary Arrangements (IVA)
  • Bankruptcy
  • Debt Relief Orders

Advantages of a Director Redundancy Payment

You stay in control of your company, even while it’s in a CVA

Pressure from creditors and HMRC ends while you prepare a CVA

Entering into a CVA can improve your company’s cash flow

While in a CVA, your company is protected from creditor legal action

In many cases, a CVA is the best option for avoiding liquidation

Entering into a CVA is far less public than other options

In a CVA, your company can make important restructuring changes

Both your company and its creditors benefit from a CVA

Disadvantages of entering into a CVA

Entering into a CVA can affect your company’s access to credit

If you break the terms of a CVA, your company could be liquidated

At least 75% of creditors need to approve your CVA proposal

A CVA is not a short-term solution and can take several years to complete

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We are business recovery professionals and will help solve your problems.