Home » Recovery & insolvency

Insolvency practitioners
in Cambridge

Sometimes events can leave you and your business facing financial difficulties, often through no fault of your own. It’s tough when this happens. Whether you’re a sole trader, in a partnership or running a limited company, the most important thing is to act fast. The sooner you seek reliable business insolvency advice, the more options you’re likely to have. We’re here for you.

Many situations can be resolved without going through a formal insolvency process. And we offer an initial free consultation, so cost is never a reason to delay. Our experienced team will listen, explain your options clearly and help you find the right path forward.

Speak to an expert

Ben Dyer, Partner in PEM's Recovery & Insolvency team

Bespoke business recovery
and insolvency advice

Depending on you or your business circumstances, there are several recovery and insolvency routes you can explore, and we will guide you through this. Some options are geared towards business recovery; others bring it to a close. From administration and Company Voluntary Arrangements (CVAs) to Creditors’ Voluntary Liquidation (CVL), Members’ Voluntary Liquidation (MVL) and personal bankruptcy, our experts will support you.

We will explain the legal and practical implications of each option so you can make an informed decision. Our friendly team will make sure you fully understand your rights, obligations and options.

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Lisa Haste, Director in PEM's Recovery & Insolvency team

FAQs

What is administration?

What is a company voluntary arrangement (CVA)?

A CVA is a flexible arrangement between a company and its creditors, typically involving monthly contributions from profits or a lump sum from an asset sale. Creditors often receive less than the full amount owed, and any remaining debt will be written off. If a CVA is the right option, we will help you draft a proposal and present it to creditors. If 75% of creditors by value vote in favour, then the CVA will be approved and become binding.

What is a creditors’ voluntary liquidation (CVL)?

What is a members’ voluntary liquidation (MVL)?

What happens if I’m declared bankrupt?

Bankruptcy is a court-ordered process that realises an individual’s assets and sells them for the benefit of creditors. You can petition the Court yourself, or your creditor can do so. If your home has equity, it may be realised, though this does not automatically mean you will lose your home.

Certain assets are protected, including those for basic living, the tools of your trade and your pension. However, bankruptcy has many consequences, including restrictions on your finances and working life. If this happens to you, we know it can be difficult. Our Cambridge-based recovery and insolvency team will make sure you understand your rights, obligations and the consequences.