What does it mean to Trade While Insolvent? (A 2022 guide for new business owners)  Companies are a special kind of legal structure since they offer limited liability and are considered autonomous legal entities. In some circumstances, the corporate veil…

A phoenix company is a phrase coined from the saying “rising from the ashes”. What happens for a company to be called a phoenix is that a new company gets created which is usually called something very similar to the…

What is a Garnishee Order? (2022 Update) A garnishee order is a significant concern since it implies that a court order has now been carried out so that creditors may recover debt from third parties. To accomplish this, they may…

What is a Director Identification Number? A Director Identification Number, also known as a Director ID, is a unique 15-digit identifier given to a director of a company. The identifier will stay with the director for life, to help combat…

Provisional liquidation is a court supervised process to protect a business and assets whilst the provisional liquidator prepares a report for the court recommending the best outcome for creditors and stakeholders.  A provisional liquidation can only be activated by making…