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We have an extensive network of 75 offices offering confidential director support across the UK.26th August 2019 Operators within the UK’s service sector saw their sense of optimism for the future slump significantly during the three months to August, according to the Confederation of British Industry (CBI).

Liquidation is part of the process of dissolving, or closing down, the partnership.Partnership assets, debts and claims can sometimes be titled in the individual name of a partner, making liquidation tricky.A general partnership is an agreement between two or more people to work together to accomplish a business project.The Statement of Insolvency Practice 16 requires the insolvency practitioner to state how the decision to use pre pack administration was arrived at, and why it provided the best outcome for creditors over other insolvency routes.Additionally, if directors are purchasing the assets to set up a new company, full disclosure must be given surrounding certain aspects of this process, including the valuer’s details and qualifications, how the business was marketed, and why it wasn’t traded as a ‘going concern.’ These and other requirements go some way towards addressing the issues around a pre pack sale, so what are the advantages likely to be if your situation makes it a suitable option?

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