For many professionals, it is rare to see a client get into financial difficulty and so the situation may be unfamiliar.
For us, it is what we do every day. We work with a wide range of professionals, accountants, solicitors, mortgage advisors and financial institutions providing advice when their clients require restructuring or Insolvency assistance. We work alongside you to achieve a positive outcome.
We have strong relationships with many professional firms and understand the priorities. Our reputation is fundamentally important to us and this underpins our approach to supporting you and your clients.
We have a free advice line from 7 am to 11 pm 7 days a week – 01494 786000
Most of all we work tirelessly to give your client the best advice for their specific circumstances.
• All meetings and discussions are confidential.
• We are available at short notice to provide practical answers and solutions.
• Our first meeting is always free of charge.
Claims against Directors
A Limited Company gives members/shareholders limited liability but it does not mean that the directors are not potentially liable for their actions in managing the company.
The Liquidator has a duty to submit a conduct report on the all the Directors within the last three years of the trading of the company to the Insolvency Service. If those investigations reveal breaches one of the statutory offences shown below he has a duty to take action. Claims against the director can be for :
· fraudulent trading;
· wrongful trading;
· transactions at an undervalue; and
· extortionate credit transactions.
We frequently advise Directors in relation to these matters and ensure that we reach the best outcome for our clients.
Insolvent Tenants and Landlords
If you are a landlord with tenants who are falling behind with their rents or that you have received notification of insolvency event, then we can help you understand and prioritise your position in these circumstances.
When a tenant is entering into an insolvency situation the solutions available to a landlord are restricted and so urgent attention and advice is key. Our telephone lines are open from 7 am to 11 pm seven days a week on 01494 786 000.
Directors disqualification proceedings
This is a niche area and if the claim is successful then it will prevent a person from acting as a director of a company from two to fifteen years. This could have a detrimental impact on the company. It is important to take advice on this as a matter of urgency and deal with your mitigating circumstances.
Bankruptcy is a way to deal with debts you can’t afford to pay. The bankruptcy process is set down in law, which means it’s legally binding for you and your creditors.
The main law covering bankruptcy in England and Wales is the Insolvency Act 1986.
The Insolvency (Northern Ireland) Order 1989 brought the law in Northern Ireland into line with England and Wales, so bankruptcy in all three countries works in the same way.
If you live in Scotland, bankruptcy is also known as sequestration and works differently.
Bankruptcy is a form of insolvency and is normally only suitable if you can’t pay back your debts in a reasonable time. Assets you own, such as your house or car, will usually be sold to pay off your debts.
This means if your assets are worth more than your debts, or if all of your regular payments are up to date and you can afford to keep paying them, bankruptcy is unlikely to be the best option for you.