We advise insolvency practitioners and companies on all insolvency procedures. With over 20 years of experience advising insolvency practitioners and companies, we have a vast array of experience and expertise dealing with large and small cases.

We appreciate and encourage a commercial and practical approach where possible. We have been involved in a number of reported cases in this field, for example, in the case of Foxholes Nursing Home Ltd v Accora Ltd [2013] EWHC 3712 (Ch), we successfully issued an application against a petitioning creditor to restrain them from presenting a creditor’s winding up petition on the grounds that there is a substantial dispute over the debt. Another example of a reported case is Quality Kebab Ltd v Danbury Foods [2006] EWHC 1764 (Ch), where we made a successful application against the objection of a creditor to the making of an Administration Order while there was a pending winding-up petition. In this case we obtained an Administration Order despite the petitioning creditor who was a majority creditor objecting to the making of an Administration Order. The Court had to balance the interests of the general body of creditors, the employees against the interest of the petitioning creditor.

Our aim is to provide all client’s with professional advice to make informed decisions based on many factors such as the costs of any particular action against the benefit that is ultimately achievable in any particular case.

If you are experiencing any difficulties or require any information, please do not hesitate to contact us for any legal advice.

Taking the next steps…

A company is insolvent if its’ assets are inadequate to release its’ debt(s) and liabilities. Often, an insolvent company: is unable to pay its debts as they fall due (cash-flow insolvency); has liabilities in excess of its assets (balance-sheet insolvency). It is of high importance that you do not ignore the debt(s), as it is highly likely to get worse if left too late. Additionally, try to avoid borrowing more money as this will magnify your issues. Please seek advice from us to guide you in what to do next.

Administration

We deal with the appointment of administrators by way of an application to court and out of court appointments. We act for corporate clients pre and post administration. An example of a non contentious area is drafting and negotiating terms of asset sale agreements for the insolvent company or the purchaser. We also deal with contentious issues such as advising the company on contractual disputes such as retention of title etc. To include making applications to the court to appoint an administrator if a winding up petition is pending against the company.

Directors

When a company runs into financial difficulties it is important for the officers of the company to act quickly to save the business if possible, failing which, to ensure that losses are minimised. We advise directors on their conduct, how to avoid liability for wrongful trading and also deal with disqualification and other proceedings anticipated or issued under the Insolvency Act 1986, Companies Act 2006 and Directors Disqualification Act 1986.

Liquidation/Creditors/Stakeholders

We deal with Compulsory, Creditors and Members Voluntary Liquidation. We act for creditors, office holders and individuals and advise and assist on all issues in a liquidation such as proceedings under the Directors Disqualification Act 1986 and the Insolvency Act 1986.

We also advise officeholders on antecedent transactions such as transactions at an undervalue, preference claims, misfeasance claims and issues such as unlawful payment of dividends and payment of excessive remuneration made prior to the commencement of the insolvency procedure. We also assist our clients in Court applications such as applications for the delivery up of documents and private examination of the directors under sections 235 and 236 of the Insolvency Act 1986.

We also appreciate that creditor concerns should be at the forefront of any insolvency process. We strive to ensure that the office holder has secured the best recovery possible and acted appropriately in his capacity.