• What happens if my company can’t pay all its debts?

    If your company can’t pay all its debts, the company is not allowed to continue operating as per usual, because trading while insolvent (as this is known) is illegal. Instead, the company must enter voluntary administration or go into liquidation. A company can also take advantage of the safe harbour from insolvent trading but it must carefully comply with legal qualifications of the safe harbour law.

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