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Everything you need to know about Insolvency

Posted on Thursday, 2nd April 2015 by

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The past few years have produced turbulent trading conditions for many businesses, whether your business itself has had difficulty or been impacted by its creditors having difficulty and failing to make payment of monies owed to your business.  The unfortunate consequence of economic difficulties is a growth in the number of companies considering or being placed into administration (and then liquidation) or alternatively, to be liquidated.

Depending on the cause of liquidation / administration, the assets and liabilities of the company and the intention of the Directors or insolvency practitioners,  it may be there are a number of creditors seeking payment of sums owed on a  full or on a pro-rata basis.

At Edward Hands & Lewis we work alongside the former directors or appointed insolvency practitioners to take active steps in determining and then pursuing recovery of sums owed on your behalf and, importantly, take all necessary and appropriate steps to protect the interests of the creditors going forward.

Although it is not strictly a means for recovering an outstanding liability, insolvency legislation may offer an alternate recovery route to that offered by the Court and we can guide you through that legislation in order that decisions you make as to how you wish to proceed are made following careful consideration of the options available.

Our insolvency lawyers are instructed by struggling businesses looking to examine their options and independent creditors looking to protect their position and remover monies so are well placed to provide clear, helpful and bespoke advice regardless of your insolvency matter.

On a non-exhaustive basis, our experience ranges from:

  • Representing Insolvency Practitioners in respect of actions against former Directors;
  • Pre-Pack Administrations;
  • Making demands under provisions of the Insolvency Act 1986;
  • Representing Directors defending misfeasance actions;
  • Acting on behalf of Directors in respect of placing Companies into Members’ Voluntary Liquidations.

To talk to a member of our team call us on 0800 999 8880 or click here to fill in our enquiry form.

Talk to our legal team

The information provided in all of our blogs reflects only a narrative of some elements to consider on the topic. The blogs do not contain considered legal advice and should not be relied upon as advice. Please see our website terms and conditions for full details of our disclaimer. If you are interested in obtaining advice, please contact one of our lawyers who will be happy and able to advise you on your own particular circumstances.

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Paul Stubbs - Litigation
Paul Stubbs - Litigation
paul.s@ehlsolicitors.co.uk 01332 862 113
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