We advise a wide range of stakeholders on litigation that arises as a result of a company being insolvent. This includes actions against the company and its officers as well as actions which the directors, officers or insolvency practitioners (“IPs”) pursue on behalf of the company.
We advise directors/shareholders on numerous matters including:
- Directors duties and how to ensure they do not breach them and leave themselves or the company open to claims.
- Bad debts, property issues and other matters that could give rise to financial issues for the company.
- Claims against the company and the best action to take.
- Claims against employees, fellow directors and other stakeholders.
We regularly accompany directors and shareholders to meetings relating to disputes to enable them to obtain immediate advice on the best way forward.
We advise IPs on all aspects of litigation arising out of insolvency, whether that be bringing a claim on their behalf or defending one.
We also assist IPs with applications to court for directions, administration orders and extensions and approval of their costs.
Advising banks, lenders and other creditors
We regularly advise lenders, suppliers and other creditors on proposed actions against companies which are struggling to pay their debts. Our broad range of experience means that we can give useful commercial advice on the best way to recover debts and the realistic prospects of success. If an insolvency process is the best way forward, we can work with creditors to achieve the best outcome available.