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Insolvency

If you are involved in a business that is facing financial difficulty, you will need help to avoid the risk of personal liabilities becoming worse.

Our experienced solicitors work with directors and creditors to provide straightforward, pragmatic advice to deal with every aspect of insolvency. It is important to note that we do not represent a director and a creditor or lender on the same case.

Advice for directors

Our expert team has the experience to help you with all legal issues involved in running your business. We can help to set up your business to minimise the risk of insolvency but also provide first-class legal support if you or your business are facing financial difficulty and insolvency.

Aside from the financial aspect of insolvency, there are a number of other factors you need to be aware of that affects you directly, including:

  • misconduct claims from insolvency practitioners;

  • the challenge of transactions which may have taken place prior to insolvency;

  • Director Disqualification investigation.

If you need a solicitor to defend such claims then we will support and fight your corner.

Insolvency does not necessarily mean the end of your business. It’s possible to purchase the assets in order to continue trading with a different entity. We provide assistance with:

  • Pre-pack purchases;

  • Setting up new entities;

  • Permission to re-use company names;

  • Retention of title issues.

Advice for creditors

If you are a creditor with security or a valid retention of title clause we can help guide you through the process and assist with the recovery of assets despite the insolvency.

We also offer specialist legal advice for banks and lenders to recover both secured and unsecured debt. You can find out more on the banks and lenders section.

Contact us

For more information about any of our legal support for directors or creditors, please contact Lisa Saxby.

Click on the logo below to access the R3 creditor insolvency guide:

 

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