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Top Tips for Enforcing a County Court Judgment (CCJ)

Late payments and unpaid invoices are a frustrating challenge for businesses of all sizes. While securing a County Court Judgment (CCJ) against a debtor is a crucial step in recovering what you are owed, the process doesn’t end there. A CCJ is essentially a court order confirming that a debtor owes money, but enforcement is […]

The Benefits of Using HCEO Enforcement: Faster Debt Recovery Explained

Recovering outstanding debts can be one of the most challenging aspects of running a business or managing collections. Despite a business’s best efforts to maintain smooth operations and establish clear payment terms, late or unpaid invoices are a recurring issue. For businesses and debt collection agencies alike, finding effective ways to recover debts efficiently is […]

Fair Payment Code: A Lifeline for Small Businesses Facing Late Payments

Late payments are a persistent issue that places immense financial pressure on businesses, especially small and medium-sized enterprises (SMEs) in the UK. Research shows that SMEs are owed an average of £22,000 each year, a figure that can push many to the brink of closure. Recognising the urgent need for change, the government has launched […]

Attachment of Earnings Orders: What They Are and How They Work

An Attachment of Earnings Order (AEO) is a legal tool used to recover unpaid debts by deducting money directly from a debtor’s wages. This method ensures that creditors receive regular payments towards the debt, providing a reliable alternative to other enforcement options like bailiff action or High Court enforcement. This article explains what an AEO […]

Legal Status of Crypto Assets in Insolvency

Crypto assets, such as cryptocurrencies and non-fungible tokens (NFTs), are increasingly treated as property under English law. While traditional assets fit neatly into the categories of “things in possession” or “things in action,” digital assets often fall outside these definitions due to their intangible nature. Recognition as Property English courts and legal bodies, including the […]

Key Requirements of Section 125A of the Building Safety Act 2022

From 24 July 2024, section 125A of the Building Safety Act 2022 (BSA 2022) introduces specific notification obligations for insolvency practitioners (IPs) appointed in relation to responsible persons for higher-risk buildings or relevant buildings. This article explores the scope and implications of these obligations, which were added by section 119 of the Freehold and Leasehold […]

Understanding the “Zone of Insolvency” and Its Implications for Directors

The concept of the “zone of insolvency” refers to a critical period in a company’s financial distress where insolvency is looming, but not yet inevitable. During this phase, the directors’ duties shift, placing a greater focus on the interests of the company’s creditors, rather than its shareholders. This shift is essential because, as financial difficulties […]

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