Accountants: What to Do When You Lose a Client to Insolvency

Accountants: What to Do When You Lose a Client to Insolvency

We often get calls from accountants asking what books and records they need to hand over to a Liquidator or bankruptcy Trustee.

Unfortunately, accountants don’t have the same right to claim privilege to documents or information as solicitors.

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When a Bankrupt’s Co-Owner Won’t Cooperate:  Forcing the Sale of Jointly Owned Property

When a Bankrupt’s Co-Owner Won’t Cooperate: Forcing the Sale of Jointly Owned Property

When a joint owner of the property files for (or is forced into) bankruptcy, the trustee can ask the co-owner to either:

– purchase the bankrupt’s interest in the property
– join with the trustee and sell the property on the open market.

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Trending Up: The Perils of a Directors Debit Loan Account

Trending Up: The Perils of a Directors Debit Loan Account

We’re seeing an increased trend of director debit loan accounts. Used wisely, they’re a useful tool.
Misused, they’re a major risk.
In fact, director debit loan accounts are the most common cause of personal liability for a director in a liquidation scenario.
This is tragic in the true sense of that word, because the harm is 100% self-inflicted.

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