Business Insolvency & Bankruptcy
We advise companies on the full spectrum of restructuring options available to them and also work closely with insolvency practitioners. Our advice is based on the needs of all the people involved with the business, whether it is the directors, owners, lenders or employees. This helps us deliver the best solution for the business. We always take a commercial approach to ensure the best outcome for all interested parties.
Directors’ duties and liabilities
Unless you find yourself in the situation, it is unlikely you will know what to do if your business becomes insolvent. We often get asked questions such as when the business should cease trading; or which insolvency process is appropriate.
We build strong relationships with insolvency practitioners and they can be nominated to act as office holder in the insolvency proceedings. It is important to instruct them to act as quickly as possible.
As directors deal with the insolvency of their business, they may often find themselves the subject of Court proceedings or prosecutions. We assist directors in defending proceedings or dealing with prosecutions. These can range from claims in wrongful trading to fraudulent trading, transactions defrauding creditors and preferential treatment of creditors.
Investigations and Litigation
As well as acting for businesses and directors in these situation, we are also often instructed by insolvency practitioners. They often have to issue claims against directors or third parties in connection with the insolvency.
We also assist insolvency practitioners in all matters concerning the insolvency process including notices to creditors, deemed consent and virtual meeting procedures, proxies, proof of debts, issues raised as regards remuneration, sale of assets or conduct of the office holders generally.