We help company directors to understand their statutory obligations, duties to the company and the many alternatives available during times of actual or looming financial distress, including the potential appointment of administrators or the preparation of a restructuring (or "safe harbour") plan.
We assist directors to navigate financial distress with the goal of keeping a company operating whilst simultaneously mitigating any potential insolvent trading risks.
Should it become necessary, we can also guide directors on the appointment of external administrators – and assist during the administration period.
Our team are experts in banking and security enforcement and advise clients on the formulation of enforcement plans that maximise potential recoveries, while mitigating exposure to claims during the enforcement process.
We are well versed in the statutory duty of sale often applicable to the sale of assets, and can assist with any priority or enforcement disputes that might arise with other secured creditors or external administrators.
We regularly act for external administrators and advise them on navigating technical issues that arise from time to time, including seeking court directions, applying for remuneration approval and the various statutory duties which apply to the sale of assets and the resolution of claims.
We also assist external administrators with applications to extend convening periods, considering and adjudicating on proofs of debt and dealing with all manner of insolvency disputes, including dealing with activist creditors and other stakeholders.
We advise external administrators (and directors) in relation to public examinations and information gathering, identification of claims and (where necessary) access to litigation funding and costs indemnities.
Our team are experienced in handling all aspects of any subsequent insolvency disputes, including preference recoveries, voidable transactions and creditor-defeating dispositions.
Our extensive experience ensures any related investigations are targeted, proportionate, and in the interests of creditors.
Our team have extensive experience in relation to personal insolvency arrangements and often act for trustees in section 77C examinations and public examinations.
We regularly assist trustees with all forms of enforcement, including section 139ZQ Notices and proceeding to recover assets transferred at under value or with an intention to defeat creditors.