Insolvency and Restructuring
Helping businesses and individuals navigate financial uncertainty
Insolvency solicitors
Facing insolvency or bankruptcy can be overwhelming, especially when you’re juggling a business or trying to protect your family.
Insolvency issues are also time sensitive. The longer debts are left unmanaged, the more serious the consequences can become. Getting early legal advice is important to protect your situation and explore your options.
Corporate insolvency
A business can become insolvent in one or both ways at the same time.
1. Cashflow insolvency
This is when your business does not have enough cash to pay its debts.
2. Balance sheet insolvency
This is when your company’s debts are greater than its assets.
Insolvency options
If a company is insolvent, the directors have a number of options available.
These include placing the company into creditors’ voluntary liquidation or administration if there is a viable business, or considering a company voluntary arrangement. There are also other options.
If your company is served with a statutory demand, winding up notice or a winding up petition, it’s important that the directors and/or shareholders seek urgent independent legal advice.
If not, as it may result in the company’s bank account being frozen, so it’s important to act quickly.
Bankruptcy
A person may become bankrupt when they are unable to repay their debts as and when they fall due.
If you are in a position where you’re unable to repay your debts, there are several options available to you. Bankruptcy may or may not be the best solution for you. So it’s important to seek legal advice from insolvency solicitors.
If you are served with a statutory demand or a bankruptcy petition, it’s imperative that you seek independent legal advice as soon as possible.
How we can help with insolvency and restructuring issues
Our specialist insolvency team can offer clear advice across corporate and personal insolvency matters.
Whether you’re a director facing financial pressure, an individual dealing with bankruptcy, or a business affected by another company’s insolvency, we can help you understand the best way forward.
Our specialist insolvency solicitors offer supportive and practical advice so you can move forward with confidence.
Some of your insolvency options
Business insolvency help
We can give you specialist legal advice tailored your situation if:
- you’ve received a statutory demand or winding up petition
- a liquidator, the Official Receiver or the Insolvency Service has contacted you about issues such as misfeasance, transactions at an undervalue, preference claims, wrongful trading, misuse of bounce back loans, or an overdrawn director’s loan account
- your business is struggling financially
- your company needs to enter liquidation
- current or former directors need insolvency advice
Bankruptcy advice for individuals
We can provide guidance on the best way forward if:
- you have received a statutory demand or bankruptcy petition
- your spouse or ex-spouse has been declared bankrupt
- a trustee in bankruptcy wants to sell your home
- you’ve received correspondence from a trustee in bankruptcy
- you want to explore annulling a bankruptcy order
Related insolvency issues
We can advise and support you if:
- you’ve been given a personal guarantee
- a customer has gone into liquidation without paying
- you need help enforcing a retention of title claim
- you want to issue a winding up petition against a company
- you wish to issue a bankruptcy petition against a debtor
- you’ve received a letter about Company Directors Disqualification proceedings
At what can be a stressful time, our expert team will help you find the clarity you need.
