Creditor Recovery & Insolvency
A financially distressed company will present highly demanding, technical and commercial issues for the numerous stakeholders involved.
We provide pragmatic, solution driven advice and assistance to guide clients through this challenging environment. We can advise on all insolvency processes and have experience in a huge variety of industry sectors in the UK and overseas.
Our clients include:
- companies: requiring advice as to their options
- directors: who require advice on their personal duties, responsibilities and liabilities
- creditors: seeking to preserve their position and/or maximise recovery
- investors: wishing to buy distressed assets or to fund distressed businesses
- Insolvency Practitioners: appointed as insolvency office holders
- banks: lending to or seeking recovery from distressed companies
Examples of our recent work include advising:
- the liquidator of a UK company, which was acting as a global sales agent for a world renowned manufacturer of luxury goods and controlled through an off shore structure, in pursuit of a multi-million pound claim for losses caused to sub-agents who had traded with the manufacturer before its demise
- group companies and their directors in the face of a threat by HMRC to pursue the directors personally in authorising dividend payments, made possible as a result of a capital losses tax scheme subsequently struck down
- the creditor of a company which had been struck off for failing to comply with filing requirements. By use of a petition seeking restoration and winding-up, our client was able to appoint a liquidator with a view to pursuing personal claims against the directors, pursuant to Section 212 and 214 of the Insolvency Act 1986
- administrators in the disposal of the business, assets and property of a group of six care home companies to a variety of different operators
- a liquidator in pursuit of professional advisors after the Company in liquidation suffered a multi-million pound fraud
- the Liquidators in the winding up of insurance and other financial services companies, involving complex issues of run-off, commissions and pension shortfalls
- directors facing director’s disqualification proceedings. In one high profile case we successfully managed to persuade the Secretary of State to withdraw the proceedings and recovered over 80% of our client's costs from the Secretary of State
- the debenture holder in an application under Section 212 of the Insolvency Act 1986 against a liquidator who distributed the company’s estate without regard to the debenture.