What is the £1 Insolvency Avoidance Scheme?
| 28-08-2024The £1 insolvency avoidance scheme is designed to help directors evade formal liquidation. The scheme is not regulated and can leave directors liable for company's insolvency.
Read MoreNotice: Information about Vivat Direct Limited, t/a Reader's Digest
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The £1 insolvency avoidance scheme is designed to help directors evade formal liquidation. The scheme is not regulated and can leave directors liable for company's insolvency.
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In July 2024, the Insolvency Service wound up and closed a company acting as an unlicensed insolvency practitioner.
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Wilson Field Limited have been instructed by the directors of Vivat Direct Limited trading as Reader's Digest (“the Company”) to assist with the formalities of a Creditors Voluntary Liquidation.
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An Administration procedure has advantages that can see the company restructure, creditor action halted and a potential sale of the company.
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A company leaving administration could have varying exit options depend on its circumstances, its future viability, and the administrator’s decisions.
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Liquidating a company in a franchise can be complicated. If you're a director considering liquidating, speak to us, and we’ll guide you through your options.
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