Business Insolvency Service
When dealing with issues surrounding liquidations, administrations and bankruptcy, whether of your own business or of a customer, it is essential to get the best possible legal advice to ensure you are aware of all your options and can find the best path through.
At what is often an anxious time, our insolvency team are on-hand to support you and will work with you to find the best possible solution. We're proud to have been recognised by the Legal 500, which states that:
“Smith Partnership has a clear focus on contentious personal and corporate insolvency mandates, but also provides advisory work ranging from administration to members and creditors voluntary liquidation, compulsory liquidation and voluntary arrangements. Associate partner Ruth Ball heads the practice. Clients include PKF Cooper Parry Group, Smith Cooper and FRP Advisory.”
Our services include helping directors of companies, which may be suffering from cash flow problems, to consider all their options, which could include business restructuring.
If necessary, the dedicated team of insolvency lawyers can help with placing a company into liquidation or administration and also advise on the duties to any shareholders, the company and creditors.
We also act on behalf of both insolvency practitioners and directors in placing companies into an insolvency process. Our dedicated team of insolvency solicitors can deal with any transfer of assets and any investigations into wrongful trading, preference claims, transactions at an undervalue claims and misfeasance claims.
The team also:
- Offer significant experience in dealing with the recovery of monies due under personal guarantees.
- Advise creditors in relation to customers which may be entering a form of insolvency, such as liquidation or administration. They can also assist in dealing with any retention of title claims and submitting proof of debt forms.
- Act in bankruptcy matters, including cases where a spouse has become bankrupt and a property is jointly owned.
- Arrange winding up notices to be served on a debtor for debts over £750 and, if necessary, issue a winding up petition in order to place a company into compulsory liquidation if the debt is over £750 and undisputed.
- Issue statutory demands and, if required, bankruptcy petitions against anyone owing more than £5,000 provided that the debt is undisputed.
To find out more and to discuss your specific requirements, contact us.