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Restructuring & Insolvency

Opus Business Advisory Group

Opus purchases the business and certain assets of professional services firms, SKSI Limited and MLM CPS Limited

Opus Restructuring LLP, the restructuring and insolvency arm of Opus Business Advisory Group, is pleased to announce the purchase of the business and certain assets of SKSI Limited and its subsidiary MLM CPS Limited the restructuring and insolvency division of SKS Business Services, which completed on 7 December 2023. Opus Business Advisory Group assists businesses and individuals to take command

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December 21, 2023

Is the UK heading for record corporate insolvencies in 2023?

The surge in corporate insolvencies for November 2023 announced by The Insolvency Service has left the UK economy on the cusp of an unwanted and deeply unenvious record. It looks increasingly as though there will be a record number of company failures in 2023, eclipsing the previous high of 26,556 at the height of the global financial crisis in 2009.

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December 19, 2023

Explainer: The Economic Crime and Corporate Transparency Act

The Economic Crime and Corporate Transparency Act received Royal Assent on 26th October 2023 and introduces “world leading powers” in combating criminal groups and others Suella Braverman, Home Secretary said: “I am committed to ensuring criminals do not profit from their offending and this landmark act will help law enforcement clampdown on the tactics they use. It will have a

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November 9, 2023

Zombie companies in the hospitality industry – mitigating the credit risk

Zombie companies with negative balance sheets and surviving only through the indulgence of their creditors have long been a worrying feature of the UK economy, creating unlevel playing fields for healthy competitors and acting as a drag on GDP growth. Our research in June 2022 revealed that there were 257,150 UK registered companies with liabilities that exceeded their assets by

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October 12, 2023

Compensation Orders – how can they affect Directors?

There are many ways in which Directors can be made to contribute towards the losses suffered by creditors when a company fails. The best known being Wrongful Trading. Less common are actions for Fraudulent Trading and Misfeasance. The 2020 Finance Act gave HMRC draconian powers to recover unpaid company tax liabilities from Directors. Directors who have taken illegal dividends and

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October 10, 2023

October economic and business overview

In this monthly update, we take a closer look at the latest UK economy stats and discuss what they may mean for UK businesses in the coming month. UK GDP However much the Office for National Statistics fiddles about revising past GDP numbers by a few tenths of a percentage point, the reality is that the UK economy is bumping

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October 2, 2023
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