Our solicitors are experts in corporate insolvency and advise businesses, stakeholders, insolvency practitioners, debtors, creditors and directors in all aspects of insolvency law.
For companies in financial difficulty
The threat of a winding up order against a company can be concerning, not only for the company but for the directors as well.
We can advise your business on challenging a statutory demand served on you by a creditor. Our solicitors can work with you to determine what to do if a winding up petition is presented, how it might be challenged by a company and assess the consequences of a winding up petition on the company. Our team of experts will also explain what to do if the company’s assets and bank accounts are frozen and how to apply for a validation order (i.e. application to the court to unfreeze the assets and bank accounts).
For directors facing investigative action
The consequences of a company becoming insolvent can open a number of serious claims against former directors of that company. This can result in directors becoming liable to account to the company for lost assets, face fines, become personally liable for company debts if there is any wrongdoing on the part of the directors, or in more serious cases face directors’ disqualification proceedings or criminal sanctions.
Our solicitors can advise you on defending claims to recover overdrawn director’s loan accounts, “Phoenix Trading”, the consequences of re-using a prohibited company name, defending misfeasance claims against directors, wrongful trading and antecedent transactions that are at risk of being challenged and/or overturned following the company being placed into insolvency.
Being owed money by a company can be both frustrating and worrying. We can advise you on the steps you can take to try and recover that debt, how to wind up a company if a statutory demand is ignored, and what happens once a winding up order is made.
The Corporate Insolvency department is accredited by Lexcel, the legal practice quality mark for client care, compliance and practice management.