We live in an age of economic uncertainty and many businesses are hampered by short-term cash-flow issues. This is despite projections showing that the medium- to long-term future looks assured.
One of the key catalysts to the economic downturn stemmed from the banking sector, and the level of ‘toxic’ debt taken on by banks. Bad or doubtful debts are becoming an increasing problem for banks, which are increasingly anxious about the ability of borrowers to repay what they have borrowed.
All of this means that new funding is in short supply and more expensive. It therefore becomes more important than ever to review borrowing to minimise the cost. This means not only aiming to pay the lowest rate of interest but also ensuring that any financing is structured tax efficiently…
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In the context of personal insolvency, the most valuable asset within the estate is often the property in which the bankrupt resides and in which he has an interest.
A private trustee’s duties can be onerous and it is important that a trustee is aware of them before accepting the office of trustee.