Financial difficulties and winding up
It’s never easy when an organisation has financial difficulties or needs to be wound up. This is especially true when it comes to charities.
You need to achieve the best outcomes for your charity’s beneficiaries and your trustees. But navigating the maze of legislation that not only involves charity law but often also insolvency law, company law and employment law can be complex and confusing at what is already a tricky time.
We are here to help. Our charity law team can give you advice on the duties of trustees or directors when a charity runs into financial difficulties. We can also call on the expertise of our insolvency team and specialist accountants to help you resolve all the issues satisfactorily.
We can also oversee the smooth transfer of services from one provider to another, meaning that the needs of your charity’s beneficiaries can still be met. Examples of our previous work include:
- The transfer of the assets and liabilities of a charity to provide leisure facilities to a local authority
- Advice to a care home followed by its transfer to another charity
- Advice upon the transfer of an independent school in financial difficulties
The question of where the boundary lies between an employer’s need to monitor staff and an employee’s right to privacy has once again landed at the European Court of Human Rights’ door.
It has been reported this morning that Carillion plc, the UK’s second-largest construction company and a key government contractor along with other group companies, have been unsuccessful in their discussions with stakeholders for a turnaround plan.