Partnerships - Insolvency, Liquidation and Recovery

When a partnership cannot pay its debts and must use a formal process to repay creditors or close the business.

Insolvency, Liquidation, Recovery Support for Partnerships

Insolvency for partnerships requires specialist handling.

Is your business structured as a Partnership?

Is the Partnership close to insolvency?

Are you concerned about your personal position?

As Partnership Insolvency specialists, we’re perfectly placed to help. We’ll sit down with you and explain your three main options. You can -

formally wind up your partnership as an unregistered company
put your Partnership into administration
Place your Partnership into a Voluntary Arrangement (PVA)

Once you’ve agreed which is the best option for your Partnership, we’ll act for you to ensure the most satisfactory outcome.

You and your partners will almost certainly be personally liable.

Partnerships are very different from limited companies, and it is not uncommon for there to be one, and frequently several, personal liabilities to be dealt with. While these may be a problem as a result of the partnership insolvency, they will most likely need to be dealt with separately.

If you have any concerns about personal liability as a partner, the best option is to ask us for personal insolvency advice.

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20-minute
Consultation

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