Handing over a family business to the next generation may seem straightforward but it can create unforeseen problems.
oing into business is like entering into a marriage – two people who have no doubt that they share the same aims and values as one another, commit to a life full of happiness and success together. Unfortunately, this is not always the case and all too often we see once happy and successful business partners fall out beyond repair. This can be due to a number of factors but often because they have a differing of opinion on how to take the business forward; the value of an individual’s contribution or one party’s wish to move on to another project.
Nick Oliver, director and Head of the Insolvency & Business Turnaround team, discusses the implications of the recent judgment in Stevensdrake Ltd (t/a Stevensdrake Solicitors) v Hunt (as Liquidator of Sunbow Ltd)  EWHC 342 (Ch)
Two directors have been disqualified for five years for taking a total of £59,000 from company funds instead of paying creditors after their business got into financial difficulties.
When does ownership of goods pass from the seller to the buyer?
Did you know that judgments do not 'run out'?
We know that cash flow is a big problem for small businesses. Sometimes, late payment can be for a genuine reason but don’t fall foul of the following delaying tactics:
Courts now actively encourage parties to consider ‘ADR’ as a means to settle their differences without having to resort to potentially costly and time-consuming court proceedings. Here is a brief guide.
If you have obtained a Court Judgement and the debtor still refuses to pay you can apply to have their goods seized.
One of the biggest questions for businesses is will taking action on late payments lose them customers?