"Given prevailing economic circumstances, it is likely this trend will continue, with more companies entering CVL. Equally, given the backlog in winding-up petitions, it is likely we will see an increase in compulsory liquidations as more cases go through the courts."
Russell-Cooke's restructuring and insolvency expert discusses the rise in corporate insolvencies revealed by recent Government statistics. He touches on the fact that there were substantially fewer compulsory liquidations than in July 2019 this summer, which may act as an indication that directors are choosing to wind-up their companies before creditors take steps to do so.
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