Our Insolvency & Restructuring Service
Our highly experienced and formidable insolvency team have a wealth of knowledge and experience in dealing with all aspects of insolvencies.
We regularly advise clients on dealing with creditors, debtors, HM Revenue & Customs (HMRC), banks, landlords, solicitors and accountants.
Additionally, we can advise you on the best way forward if your business is facing financial difficulties or has been put into administration.
We offer a range of insolvency services, including:
- Business Rescue - If your company needs rescuing from insolvency, we can help.
- Liquidation - We can assist if you need to wind up your company.
- Company Voluntary Arrangements (CVA) - We can arrange CVAs for companies that want to restructure their finances without going bankrupt.
- Bankruptcy Advice - We can advise you about bankruptcy and other forms of insolvency.
- Director Disqualification- We will defend you against any claims made against you as a company director.
Our insolvency and restructuring experts use their years of market knowledge and highly specialised technical skills to provide legal guidance to insolvency practitioners, creditors, lenders, businesses and companies, directors, and individuals.
We regularly represent directors in relation to allegations made against them in connection with insolvent companies. This includes representing directors in proceedings before the Financial Services Authority (FSA).
Directors often face claims from creditors arising out of their role in an insolvent company. These include claims for breach of contract, negligence, fraud and misrepresentation. Our team can advise you on how to defend such claims.
If you'd like to talk to someone about how we might be able to help resolve a business insolvency matter, feel free to call us at any time on 01902 504411 or fill in the form below with your details. One of our insolvency experts will get back to you within 24 hours.
I'm a company director, and my business has entered liquidation. What happens next?
Once a company enters liquidation, control of the company passes from the director(s) to the appointed liquidator. The directors are expected to co-operate with the liquidator in his duties. Failure to assist or comply with the liquidator's requests could result in the liquidator taking court action against the director(s).
I'm a company director, and my business has entered administration. What happens next?
The administrator assumes control of the company's affairs and properties from its board of directors upon appointment. Also, if the board members were to act in ways that would interfere with the administrator's power to manage the company, they would need the administrator's permission before doing so.
What is a company voluntary arrangement (CVA)?
A Company Voluntary Arrangement (CVA) is a form of insolvency procedure which allows a company to restructure its finances without going bankrupt. A CVA involves the company agreeing to make payments to its creditors over a period of time. It also protects employees and suppliers with contracts with the company.
Am I still able to serve a statutory demand on the debtor as a creditor?
Possibly, but it may not be possible to recover all the debt. You should contact us first to discuss whether this is something we can help with.
I am the director of a distressed company. What should I do?
You have a legal duty as a company director to ensure that the company carries on its business in accordance with the law. If you fail to carry out these duties, you may be personally liable for any losses caused by your failure.
I have received a winding-up petition. What action should I take?
If you receive a winding-up petition, you must seek legal advice immediately. This can have dire consequences for the business, including freezing bank accounts.
What do I do if an administrator or a liquidator brings a claim against me?
You must seek urgent legal advice. Our team has extensive experience advising directors concerning claims brought against them by administrators and liquidators.
We're here to help if you need to discuss an insolvency matter. Just give us a ring on 01902 504 411 or fill out the form below for a team member to contact you.