It is of great importance for a director to seek independent legal advice before the collapse of their business, which is now being appreciated more due to the change in culture. As such, recovery plans can be put into action before it is too late, with a view to restructuring the business at such a time that it can be rescued.
Our Business Services departments in Milton Keynes and Northampton work to assist those involved in, or affected by, insolvency issues, acting for either private individuals or corporate businesses. We appreciate the broad nature of insolvency and possible resolutions, and at all times ensure our advice is specifically tailored to exceed the client’s expectations. We regularly deal with both contentious and non-contentious matters on behalf of insolvency practitioners, financial institutions, directors, individuals and creditors (including suppliers and landlords).
We offer a wide range of services to deal with insolvency issues, including:
- Preparing statutory demands, effectively a written request to a debtor for the payment of a debt, as well as more complex and serious petitions such as winding-up petitions for creditors or other interested persons wishing to wind-up a company and bankruptcy petitions in respect of filing for a person’s bankruptcy.
- Assisting to secure the survival of companies by way of company reconstruction advice based on reorganisation and refinancing solutions.
- Providing advice on how to carry out an asset purchase or the purchase of a business when the seller is in administration.
- Drafting and negotiating asset sale or purchase agreements for liquidators, administrators, receivers and management teams.
- Dealing with asset recovery and retention of title issues.
- Reviewing contracts and claims and assisting with contested book debt recoveries.
- Debenture validations.
- Assisting with preferences, transactions at an undervalue, transactions defrauding creditors and other misfeasance claims.
- Advising on the purchase of businesses and assets from insolvency practitioners.
- Advising on the re-use of company names and any relevant restrictions.
- Advising upon fraudulent and wrongful trading issues.
- Advising on director disqualifications.