As you know, this season of the Business Owners Podcast is all about bringing you the best team of legal experts to get their top tips for Business Owners. It is so important for business owners to have the right advisory team around them, giving them the best possible chance of success in their business or business exit. As such, this week I am joined by one of Mills Oakley’s leading Insolvency lawyers, Ariel Borland.
In this episode, Ariel discusses what it means for a business to be insolvent, and provides tips for creditors of a business which is insolvent. She provides insights on:
- The cash flow test to determine whether or not a business is insolvent
- Pre-planning protection strategies for directors to avoid being personally liable
- The importance of registering your security interests to ensure you are a priority creditor
*Please note that any strategies discussed by Martin and Ariel are general in nature and do not take into consideration any of your personal circumstances. You must seek individually tailored advice to ensure you properly address any issues you may have around your business.