There were 1,248 Creditors’ Voluntary Liquidations (CVLs) in England and Wales in October 2021, according to the Insolvency Service’s latest monthly insolvency statistics.
There was also a 63% increase in the number of registered company insolvencies when compared to the same month the previous year, going up from 864 to 1,405.
Russell-Cooke senior associate David Fendt comments in Credit Strategy's TRI that these statistics are not surprising considering the Government's withdrawal of vital business support that kept many business afloat during the pandemic.
63% increase in registered company insolvencies is available to read on the Credit Strategy website via subscription.
David Fendt is a senior associate in the insolvency team. He regularly acts for office-holders in both personal and corporate insolvencies in relation to all aspects of their appointment, including advising on claims against directors and other third parties under the Insolvency Act 1986 as well as claims for overdrawn loan accounts, contractual claims, and breach of statutory and fiduciary duties.
He also advises on asset recovery actions, and conducts interviews with directors, debtors and third parties.