Insolvency

As our personal and business lives face change in the digital world and by the impact of COVID-19, our Insolvency solicitors in London will ensure you stay abreast of the latest developments. We are committed to working together to create a partnership that is tailored to your circumstances.

As Insolvency solicitors with a rigorous and pro-active approach, we tailor our advice and action to your specific needs, whether personal or related to your business. We can provide you with a comprehensive Insolvency law service, advising you on both the predictable – and less predictable. We can assist in relation to personal or company debt problems you or your customers are facing (monies due to you, monies owed by you).

We can also advise and act for Insolvency Practitioners in respect of the administration of Bankruptcies, Liquidations, Receiverships, Administrations and Individual or Company Voluntary Arrangements; particularly actions against debtors of the Insolvent individual/company and ‘delinquent’ directors in corporate insolvencies.

The Law relating to Insolvency has recently changed with the passing of the Corporate Insolvency and Governance Act 2020 which has introduced some temporary provisions to assist distressed companies. There are also temporary provisions in relation to supply contracts, and restrictions on when and if a Statutory Demand may be served, or a Winding- Up Petition presented and as to a supplier’s obligation to continue supplies to an insolvent customer, notwithstanding non-payment for existing supplies or services.

In addition, the Act introduces new permanent provisions to assist the rescue culture. These include a new Moratorium for companies enabling them to discuss protective action and restructuring or alternative debt payment schemes with an Insolvency Practitioner and then to take steps to implement the same. Along with Company Voluntary Arrangements the Act provides an alternative method for Companies to propose Arrangements and Reconstructions where proposals may be made to different classes of Creditors.

Paul Nathan has advised and acted for individuals and companies since 1988. Â From 1990 until 2013 he was Licensed by the Law society/SRA as an Insolvency Practitioner enabling him to take appointment as a Trustee in Bankruptcy, Liquidator, Receiver etc. During the 1990’s and early 2000’s Paul and his teams were appointed by a major world bank to run over 200 businesses ranging from pubs and hotels, to nursing homes, to leisure centres and industrial estates; in most cases selling the same as going concerns. In his capacity as an Insolvency Practitioner, Paul acted against Bankrupts and directors of Insolvent Companies, dealt with contract issues, debtors and creditors as well as restructuring companies.

Alice Lithgow is an experienced insolvency litigator and has dealt with a wide range of domestic and international insolvency matters including winding up petitions, bankruptcy petitions, misfeasance claims, preferences, transactions at an undervalue, annulments and recognition orders.

 

Our Services

 

For individuals

We can advise and act for you in relation to:

  • Steps to be taken to avoid Bankruptcy;
  • Applying to set aside a Statutory Demand;
  • Opposing a Bankruptcy Petition;
  • Negotiating settlement of claims, thus avoiding Bankruptcy;
  • Steps to be taken if you have incorrectly been adjudged Bankrupt, including an annulment;
  • Dealing with the Official Receiver or Trustee in Bankruptcy;
  • Seeking permission to act as a company director whilst Bankrupt;
  • Protecting the interest of related parties in the matrimonial home or other properties; and
  • Recovering monies due to you from a debtor through the bankruptcy procedure.

 

For businesses

We can advise you and act for you in relation to:

  • Steps to be taken to avoid Liquidation/Administration/Receivership of your company;
  • Applying to injunct the presentation or advertisement of a Winding-up Petition;
  • Opposing a Winding-up Petition;
  • Cancelling a Winding-up Order;
  • Dealings with the Official Receiver or Liquidator including defending claims against you for fraudulent or wrongful trading or having preferred creditors;
  • Defending an action to disqualify you as a Director;
  • Personal liability as a guarantor of the company’s debts or other obligations;
  • Recovery of monies from a corporate debtor through the corporate insolvency procedure; and
  • Restoration of a company to the register for the purpose of a claim against it, or recovery of your own monies, for example in a bank account where your company has been ‘struck off.’

 

For Insolvency Practitioners

We can advise you and act for you in relation to:

  • Recovery of real property and other assets from Bankrupts, associated parties and third parties, under sections 339, 340 and 423 Insolvency Act 1986;
  • Actions against directors and shadow directors pursuant to Sections 212, 213, 214 and 423 Insolvency Act 1986;
  • Actions against director and third-party guarantors under personal guarantees;
  • Applications to annul Bankruptcy Orders or cancel Winding-up Orders;
  • Claims in respect of the administration of Insolvent companies/individuals; and
  • General claims and matters in the course of the administration of a Bankruptcy/Liquidation/Administration etc.

 

For our costs in respect of debt recovery through an insolvency procedure see here

To find out how our solicitors in London can to help you, please send us an enquiry.