We have good contacts with insolvency practitioners. We might liaise with them to identify the most appropriate steps to protect the company and its business. This could result in refinancing and re-structuring without the need for formal insolvency proceedings. This might include share buy-backs or members' voluntary liquidations and demerger liquidation schemes (using section 110 of the Insolvency Act 1986) to create a more logical group structure and/or to unlock shareholder value in distinct business streams, or to separate businesses lines which have different strategies or operate in different markets.
Alternatively administration may be recommended in order to freeze creditors' hostile actions against the company, coupled with a voluntary arrangement or the sale of the business back to its owners or a third party.
We can advise directors of companies in distress of their duties and responsibilities to enable them to take the most appropriate action to protect themselves, their business or their assets. Such directors may face possible claims of wrongful trading and other claims made by insolvency practitioners relating to transactions at an undervalue, voidable preferences, or the threat of company director disqualification. We have immediate access to a committed Debt Recovery team. This team provides a comprehensive, efficient and cost effective book debt collection service.
We can advise on the impact of insolvency on the rights of landlords, tenants, suppliers, charge holders, holders of liens and retention of title, contracting parties, customers' deposits, directors' loans, and employees' rights on unfair dismissal, redundancy and arrears of pay. Our litigation team can assist creditors to enforce their rights.
We are also well-placed to assist potential purchasers in buying businesses and assets from administrators and liquidators, as we understand the issues faced by the parties on both sides of the transaction.
Contact our Specialist Restructuring & Re-Organisation Solicitors
For further information or to speak to our expert restructuring & re-organisation solicitors (including corporate recovery & insolvency) please telephone us on 0207 387 2032 or complete our online enquiry form here.