If your company cannot pay its debts as and they fall due or the company’s assets are less than its liabilities, the business is insolvent. Unless its debts are paid quickly, insolvency may result in the company being wound up. If you are an individual in a similar position, you may wish to consider bankruptcy as a real option.
We provide professional legal advice on insolvency issues in respect of individuals, business owners, directors, shareholders, creditors, insolvency practitioners and lenders.
We regularly act on behalf of insolvency practitioners and companies in formal insolvency proceedings. Also we are able to advise on the options available where the company has not formally been made insolvent and assist creditors to enforce their debts against their debtors by the most effective and efficient means.
We are able to assist in the following areas:
- Administrations (including pre-pack administrations)
- Advising and negotiating both insolvency practitioners and buyers on sale/purchase of the business & assets of a company in administration
- Administration Orders
- Company Voluntary Arrangements
- Resisting Winding Up Petition
- Compulsory Winding Up Petition
- Law of Property Act receiverships
- Leasehold property repossessions on behalf of landlords
- Forfeiture and distress
- Advising Landlords’ of their rights against insolvent tenants
- Mortgage repossessions
- Advising on the repossession of the matrimonial home and the rights of the non-bankrupt spouse;
- Advising on applications for Income Payments Orders;
- The recovery of assets for the bankrupt's estate and examination of the bankrupt or other person.