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Insolvency

Companies may encounter financial challenges at some time or another, whether due to external factors such as a change in the economic climate, increasing competition or internal factors like poor cost control mechanisms leading to cash flow problems.

In effect, all of the above are common struggles faced by many companies on a regular basis. However, unless detected early, issues will arise and relationships’, (whether external and/or internal) may deteriorate when these are not addressed.

 

  • Jill Lawton
      • 01689 887855
      • 07787 228007
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  • Ben Madden
      • 01689 887845
      • 07880 555559
      • View profile
  • Amanda Mehlin
      • 01689 887808
      • 07880 555561
      • View profile
  • Laura Thompson
      • 01689 887875
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Identification of problems is essential and directors must explore the avenues available before being able to engage in a constructive dialogue both internally and with creditors and suppliers to ensure the survival of the business.

Depending on the individual circumstances, there are a number of options and schemes available to companies which may either permit the recovery of the company or, in the event of the company being insolvent, a solution that will protect assets of individuals and those belonging to the business.

Our corporate team advises and acts for businesses, creditors and insolvency practitioners on various aspects of corporate recovery, including:

  • Restructuring;
  • Pre-pack arrangements;
  • Acquisitions/ sales of companies in administration;
  • Company voluntary arrangements;
  • Directors’disqualifications; and
  • Other related commercial issues.

In addition, our insolvency litigation team provides advice in respect of all aspects of insolvency litigation. We regularly advise insolvency practitioners, creditors, debtors, individuals and businesses facing financial difficulties and landlords with insolvent tenants.

We can help you with:

  • Statutory demands and applications to set aside statutory demands.
  • Issuing and defending winding up petitions.
  • Issuing and responding to injunctions to prevent the presentation or advertisement of winding up petitions.
  • Claims against directors
  • Claims for preferences and transactions at an undervalue
  • Retention of title clauses
  • Validation orders
  • Insolvent tenants including advising on the options available to minimise losses
  • Advising administrators, receivers or liquidators on all aspects of their appointment
  • General advice to insolvency practitioners

For a preliminary discussion please contact a member of the insolvency team.