There are a number of options that a company can take in this situation.  The preferred route is always a course of actions that return the company to health, a route that Walsh Taylor has supported many companies in achieving.  Research consistently shows that many companies that end up entering liquidation could have been saved if professional help had been sought earlier.

A company is deemed to be insolvent if it is unable to pay its debt or does not have enough assets to cover its debts or is unable to pay its debts as they fall due.  However a company does not need to be placed into liquidation if it shows that it can trade out of this situation, returning the company to solvency.  Walsh Taylor are experts at assessing companies and assisting the directors in taking a company back into healthy trading.

Directors can be at personal risk when a company is in a perilous position and taking advice early is is crucial for them to ensure that they are not falling foul of their duties as directors which could result in them being disqualified from acting as a director in the future.  A duty of the directors is for them to consider or act in the interests of the company’s creditors in order to minimise the potential loss to them and therefore taking advice from an insolvency specialist to assess the whether liquidation is the best course of action for the business is important.

Mary Taylor
Director

Mary began working in insolvency for a national accountancy practice in Glasgow thirty years ago and worked in most divisions of the insolvency department.

She then moved to a smaller firm so she could advance her knowledge on a more hands on basis. She moved back to Leeds in 1987 and commenced working with a small firm of accountants and subsequently made partner.

She left in 1999 to set up her own practice, McCann Taylor.
McCann Taylor became involved with the consumer market both in England and Scotland.

Mary sold McCann Taylor in March 2007 and formed Walsh Taylor to concentrate on helping businesses experiencing financial difficulties.

Walsh Taylor Finding workable solutions for your financial problems
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