Imagine this: your company is sailing along smoothly, but then you hit a financial iceberg. Suddenly, you’re facing insolvency, and creditors are circling like sharks. But wait, what’s that about the onset of insolvency? It sounds like a potential transaction at undervalue. There seem to be some questionable transactions defrauding creditors from before the storm….

To get business loans or support a commercial tenancy arrangement, you can be required to provide a personal guarantee as a director of the firm. You may not have considered much about it at the time. However, if you refuse to make payments or the firm collapses and is unable to repay the loan, your…

So, You’ve decided it’s time to close the doors on your limited liability company (LLC), ensuring all developments are officially documented. But before the metaphorical “for sale” sign goes up, there’s the question of how to wind down your business affairs in a controlled and solvent manner. This is where a Members’ Voluntary Liquidation (MWL)…

A secretary can provide essential and practical support in a legal firm’s day-to-day jurisdictional responsibilities. Their tasks may extend beyond secretarial labor to include dealing with legal terminology, processes, and documentation.  Duties and Responsibilities of Legal Secretaries Making appointments and contacting internal and external parties  The main task of a legal secretary is to ensure…

Running a Limited Company (LTD) franchise can be a rewarding experience, but sometimes, real business rescue services may be required. difficult circumstances may force you to consider liquidation. However, the presence of a franchise agreement adds another layer of complexity to the process of company liquidation. Here, we’ll explore the question: How to get out…

Cars are often the most discussed assets in a separation: they’re essential for work, childcare, and day-to-day life, and they can carry finance or negative equity. In Scotland, how a vehicle is treated depends on whether it’s marital property, who needs the car during the divorce process most, and how it fits into a fair overall…

At SGT Law Firm, we know that many of our clients are very concerned with how much it will cost to get a divorce in Scotland. It can be hard to deal with the financial aspect of getting a divorce, especially if you’re already feeling stressed out about the emotional aspect of things and the…

The death of a loved one can be a difficult experience on an emotional level, and the stress can be significantly increased by concerns over finances. However, before you do so, you need to make sure that you are aware of your legal responsibilities. It is tempting to use the money that has been left…

What is a Collateral Warranty? A collateral warranty is a contract in which a party participating in the works guarantees to a third-party beneficiary that it has met its commitments under its underlying construction contract, subcontract, or professional appointment, known as the underlying contract in this article. In this post, we will look at the…

A lot of people profit from financial arrangements in which family members and/or friends assist them financially. This is most common when parents give their adult children money to help them buy a home or make other financial ventures. But what happens if there is a divorce and a disagreement between the spouses over the…