Insolvency

Insolvencies can be a risk to any business.

Many will be lucky enough not to experience an insolvency, but for those that do, it can be an unpleasant experience for directors, shareholders, creditors and employees. However, getting the right advice could be the difference between rescue and closure.

From a director’s point of view, you will want to ensure the minimum possible exposure for creditors and employees and you will want to avoid being left with personal liability for any debts. From an insolvency practitioner’s point of view, you will want to maximise realisations and returns to creditors and ensure that there are assets to pay your professional fees.

We work with directors and with insolvency practitioners in dealing with all aspects of insolvency and in recent years we have acted for the administrators of world-famous software games developer Eurocom Developments Limited and Nottingham’s prestigious Lace Market Hotel. We give clear, pragmatic and commercial advice, having regard at all times to your objectives.

Areas of insolvency that we have dealt with include:

• Liquidations;
• Administrations;
• Voluntary Arrangements;
• LPA Receivers;
• Statutory Demands;
• Winding up and Bankruptcy Petitions;
• Advice on Security;
• Pre-packs and asset sales; and
• Antecedent Transaction claims.