Insolvency and Corporate Recovery
Many businesses find themselves in distress from time to time. Whether you are a director, shareholder, office holder or creditor we can help you resolve matters to your satisfaction.
What we do
Businesses can have fluctuating fortunes. Start-ups may have teething troubles and an urgent need for investment, while more mature businesses may have plans that are not properly executed, market conditions that may change or risky ventures that may not succeed. Customers may even withdraw business or worse still, become insolvent themselves, leading to a major bad debt.
Whatever the reason for a business getting into financial distress, early tailored advice is essential. If you are a director or shareholder that wishes to stabilise the company’s business, restructure its affairs and assess its obligations and options, or you are a creditor seeking to safeguard your rights, we will work with you to find the plan that best suits your needs and execute it.
If it is necessary to go into a formal insolvency process, such as administration or liquidation, we will take you through the process and deal with the particular issues that arise. Again, if you are a creditor of a business in a formal insolvency process, we will examine the options you have. On the other hand, if you are a business threatened with an insolvency process by a third party, we will find the best way to deal with this situation.
We have relationships with a number of insolvency practitioners and will regularly help them with legal issues arising during their period of office, be they non-contentious issues (such as business and asset sales) or contentious issues (such as asset recoveries or defences to claims). Our assistance can include seeking suitable funding options for cases that the office holders wish to progress.
When businesses find themselves in an insolvent position, there may be personal consequences for directors, who have regulatory responsibilities as well as legislative implications to consider, often along with personal guarantees. We are experienced in steering clients through these difficult and challenging situations, seeking always to deliver advice with empathy for people’s situations.
Who we do it for
If you are a business with insolvency issues, for example you cannot pay debts when they fall due and/or your balance sheet shows that liabilities exceed assets, or you are facing creditor action, we can help you deal with the issues arising and find the best solution. We can also assist insolvency practitioners with the issues they face both before and during the period they hold office, as well as creditors who are concerned to protect their claims.