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Insolvency services

Insolvency services, London solicitors

Experienced insolvency solicitors

When a business is in financial distress, there may be a number of different routes available and there are normally multiple stakeholders involved. Insolvency issues are often complex and are nearly always highly emotive with people’s livelihood and assets at stake. Our experienced team are sensitive to the many different aspects of an insolvency situation and will work with you to advise and where necessary take decisive and swift action on your behalf with the aim of securingthe best and most cost-effective outcome.

Administration

Whether you use the out of court route or apply to the courts, administration proceedings may be instigated by the directors of the company, its shareholders or creditors. The company then gets protection from its creditors, who cannot take further action against the company without the consent of the court, or administrators. The purpose of administration is, where possible, to rescue and rehabilitate insolvent but potentially viable companies. Our team has experience for acting for all stakeholders and can advise on whether administration is appropriate route as well as conducting the necessary proceedings or processes.

Fraud and asset trading

Fraud and asset trading or recovery often requires speedy and decisive intervention to secure or preserve assets. This can take many forms such as asset tracing, applying for emergency freezing orders and evidence preservation orders, enforcement proceedings and whistleblowing claims. Alternatively, you may find yourself in the situation of having your assets frozen or dealing with an investigation into your dealings. Our experienced team is on hand to advise and assist navigate what can be a highly complex and technical areaand has significant experience in swiftly preserving and receiving assets both within and outside the UK.

Bankruptcy

You can apply for bankruptcy yourself or can be made bankrupt by a creditor, if you owe over £5,000 to them. Once a bankruptcy order has been made the Official Receiver or an Insolvency Practitioner will be appointed as your Trustee and will manage the process by taking control of your assets. There are serious implications when a bankruptcy order is made but there are also positives to this course of action. The key is to get advice as early as possible, whether you are considering applying for a bankruptcy order or responding to one or whether to consider alternative options.

Liquidation

If there is no hope of business recovery, liquidation may be the only option. There are three types of liquidation (creditors voluntary liquidation, compulsory liquidation and members voluntary liquidation). The result is the company assets are realisedor sold off in order to pay creditors. We have experience of acting for all types of liquidators and directors of companies in liquidation and can advise you on which option is best for you and guide you through the process.

Debt recovery

Debt recovery can be time consuming and stressful and the impact of unpaid debts on your business can of course be significant. We can provide compliant debt recovery services including pre-action, court procedures and full debt enforcement procedures to recover your debts. Meaning you can get on with running your business.

Sectors in which we have experience and expertise

We have experience across multiple sectors including:

  • Financial services
  • Professional services
  • Leisure
  • Retail

Solicitors in

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Andrew Robins

Partner
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Jonathan Woodroffe

Consultant Solicitor