Going through a tough business trading period can seem like your world is crashing around you. I know, I have been there.
My name is Kevin Collinson and I help businesses of all shapes and sizes through their challenging trading periods. Check out this scam which involves the milking of a charity's assets at the expense of creditors.
In some cases a business turnaround is not possible and I help business owners go through the liquidation process. It is a minefield and where the lowest of the low like to feast off the vulnerable. By the time Liquidators have finished milking their fees business owners can be liable personally for certain taxes even though their business was a limited company. Yes, you can be made bankrupt by the tax authorities; it happened to me.
In addition, the liquidators can easily suck the cash out of the business due to the lack of adequate legal process to keep them in check. Essentially, Liquidators can rack up fees, have no comebacks whilst director's personal guarantees with banks etc are exposed, when originally there appeared no likelihood of that eventuality looking remotely possible.
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