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News Articles

Welcome to our latest news page. Click to read the latest articles below.

Insolvency Service cracks down on directors

Added: Thu, 22 Jun 2017  
The Insolvency Service has recently released new figures which show the high levels of director’s disqualification relating to illegal activity over the last year. From April 2016 to January 201...

Beware of Unregulated Insolvency Advisers!

Added: Thu, 15 Jun 2017  
Would you let an unqualified surgeon operate on your body? Of course not!   So why do so many directors seek advice from unqualified, unregulated, possibly uninsured advisers? The most likely e...

Company Insolvency Explained

Added: Thu, 15 Jun 2017  
Company insolvency happens as a result of a company being unable to pay its debts. There are two tests that are carried out to determine corporate insolvency. The first is the cash flow test which loo...

Save Your Business By Following These Tips

Added: Thu, 15 Jun 2017  
Here at the Timothy James Partnership we help to recover and nurse businesses back to health. Many businesses who face difficulty still have plenty going for them.   We can help you to examine ...

Individual Voluntary Arrangements Explained

Added: Wed, 24 May 2017  
An individual voluntary arrangement (IVA) is a formal agreement between you and your creditors that can help you repay your debts at an affordable amount.   IVAs are a legally binding agreement...

Can I re-start my business using a Creditor’s Voluntary Liquidation?

Added: Wed, 24 May 2017  
Liquidation and re-start is achievable using a Creditors’ Voluntary Liquidation. It can be done within the law quickly and smoothly.   When a company is placed into liquidation all its co...

The difference between Bankruptcy and Insolvency

Added: Thu, 18 May 2017  
These are two definitions that both refer to a situation whereby liabilities exceed assets of either a business or an individual, and so it’s no surprise that many people get them both confused....

At what point do you need to appoint an Insolvency practitioner?

Added: Wed, 03 May 2017  
A very common question asked is then should you appoint an Insolvency Practitioner.   This can be a difficult question to answer for a director of a company because it can depend on many factor...

Members Voluntary Liquidation Explained

Added: Thu, 27 Apr 2017  
Member’s Voluntary Liquidation (MVL) is where the shareholders of a solvent company adopt a voluntary winding up resolution and appoint a liquidator to realise the assets of the business to dist...

6th April 2017 – New Insolvency Rules Introduced

Added: Thu, 20 Apr 2017  
New rules which guide insolvency practice have come into force.   The rules have been rewritten to reflect modern business practice and to make the insolvency process more efficient. Changes in...

Statutory Demand Explained

Added: Thu, 13 Apr 2017  
When a company is owed £750 or more and has attempted to collect its money without success, it may resort to sending a 21-day Statutory Demand for payment. This procedure requires no court invol...

Insolvency Rules April 2017

Added: Thu, 16 Mar 2017  
On the 6th April 2017 the application to replace all existing insolvency rules in England and Wales will come into place. When they come into force, they will repeal and replace the Insolvency Rules 1...

Company Voluntary Arrangement explained

Added: Thu, 09 Mar 2017  
A company voluntary arrangement (CVA) is a formal insolvency process. It is used when a company cannot pay all of its debts, however, it allows the company to trade on during the insolvency process wi...

What do the new 2017 Insolvency Rules mean for Creditors?

Added: Thu, 16 Feb 2017  
The new rules come into play on the 6th April 2017 which will guide the future of insolvency practice. The update represents the biggest change to insolvency law in 30 years.   While the change...

Summary of Company Solvency Statistics – October – December 2016 (Q4 2016)

Added: Thu, 09 Feb 2017  
Below is the summary of the latest data published by The Insolvency Service on company insolvency. Key Findings in Q4 2016 This quarter has seen an increase of company insolvencies overall with an e...

Increase in Personal Insolvencies

Added: Thu, 02 Feb 2017  
The number of people declared bankrupt owing to unmanageable debts was 13% higher in 2016 compared with the previous year, official figures show. In England and Wales, a total of 90,930 people were m...

We Are Recruiting

Added: Mon, 30 Jan 2017  
Insolvency Case Administrator   Up to £28,000 per annum depending upon experience   Bromsgrove based   We have an exciting opportunity for an Insolvency Case Administrator t...

How to minimise the risk in liquidation

Added: Thu, 26 Jan 2017  
By identifying potential personal risk areas, a strategy can be adopted to minimize or reduce areas of risk. Common risk areas for Directors In A Creditors’ Voluntary Liquidation include: &nbs...

Directors Beware Trading on an Insolvent Company

Added: Thu, 19 Jan 2017  
The Implications of liquidation on company directors   A director needs to be mindful that he/she does not continue to trade a business on when there is no prospect of it trading out of its fin...

New Year, New Rules

Added: Thu, 19 Jan 2017  
The 6th April 2017 brings with it a new set of insolvency rules in the insolvency industry. The Insolvency (England & Wales) Rules 2016 is aimed at modernising and updating present procedures whic...

The Insolvent Liquidation Process explained

Added: Thu, 22 Dec 2016  
What is a Creditors’ Voluntary Liquidation (CVL)? When a company cannot pay its debts when due, it is deemed insolvent and the directors of the company have to decide whether it is the right co...

The Solvent Liquidation Process Explained

Added: Thu, 15 Dec 2016  
What is a Members Voluntary Liquidation?    A Members Voluntary Liquidation (MVL) is used when a company is solvent and the shareholders wish to close down the company. This can be du...

Warning Signs of Insolvency

Added: Thu, 01 Dec 2016  
It’s a difficult situation when you are firmly entrenched in a supply chain and your clients are the feed for this chain. What would happen if one of your clients became insolvent and stopped tr...

Summary of Insolvency Statistics – July to September 2016 (Q3 2016)

Added: Fri, 25 Nov 2016  
Below is the summary of the latest data published by The Insolvency Service on company insolvency.  Company insolvency in England and Wales  Key findings for Q3 2016    This qu...

My employer has gone into liquidation, what happens to my pension?

Added: Thu, 10 Nov 2016  
If your employer goes into liquidation, what happens to your pension? You will either have a pension through the company that has now gone into liquidation, known as a company pension or a personal ...

How will Liquidation affect my employees?

Added: Thu, 03 Nov 2016  
What happens to employees when the company they work for goes into liquidation?  If it is compulsory liquidation employees’ contracts of employment automatically terminate at the time of l...

HMRC want to liquidate my company – what does this mean?

Added: Thu, 27 Oct 2016  
When HMRC are threatening to put your company into liquidation it will mean that they have to apply for a winding up petition which will force the company into compulsory liquidation. A winding up pe...

A Creditors guide to liquidation fees

Added: Thu, 20 Oct 2016  
When a company goes into liquidation the costs of the proceedings are usually paid out of assets. This guide is intended to help creditors be aware of their rights to approve and monitor fees and expl...

How to choose a liquidator?

Added: Thu, 13 Oct 2016  
No director should be hurried into putting their limited company into liquidation. Not all company liquidators are the same. Different liquidators focus on different areas of business and have differe...

What Is Insolvency

Added: Thu, 06 Oct 2016  
There are several definitions of insolvency. One is if you are unable to repay your debts on time, you are then classed as insolvent.  There are also several debt solutions available if insolven...

Welcome To Our Brand New Website!

Added: Thu, 15 Sep 2016  
We're thrilled to launch our brand new website!   Our new website has been designed to not only give you current information on our insolvency services but to show you the people within our tea...
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The Timothy James Partnership

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About Us


We are an independent firm of specialist Licensed Insolvency Practitioners located in Bromsgrove, Worcestershire.

At The Timothy James Partnership, we work very closely with local businesses and professionals, providing guidance on formal insolvency procedures and advice on restructuring businesses.

We recognise that at times, companies find themselves in difficult financial circumstances and our aim is to provide practical solutions in these situations.