Corporate and personal insolvency

Whether you are facing a business or personal insolvency, reaching an effective solution is best achieved with the help of a specialist solicitor. We understand how stressful being in financial trouble can be, which is why our dedicated team, which is backed by Legal 500 recognition, provides straight-talking, pragmatic advice to support you through this difficult time.

Contact us today to find out how we can help you.

Corporate insolvency

In the current volatile economic climate, it’s more important than ever for businesses to effectively manage their finances and take prompt action if things take a downturn. Our business insolvency team helps companies to avoid insolvency as well as provide swift, practical advice when the procedure is unavoidable. We have experience and expertise in helping businesses to understand the various options available to them and advise on the best course of action, including:

  • Administration - to seek to rescue the company or obtain a better outcome for creditors, including restructuring 
  • Advising directors of the company of any personal implications for their company becoming insolvent, including where personal guarantees have been entered into 
  • Company Voluntary Arrangement - helping your company and its creditors to reach an agreement 
  • Liquidation - from realising and distributing assets to creditors, right through to the final stages of winding up

Personal insolvency

Having helped many individuals navigate complex insolvency issue, we have gained extensive experience and expertise to help you do the same. If you happen to be facing financial difficulty, we understand the strains it can cause on all other areas of your life, including family and relationships.

For this reason, seeking legal advice as soon as possible can lessen the impact of the financial burden and help you to get back on your feet. We can advise and support you through all areas of personal insolvency, including: 

  • Negotiating and reaching agreements with creditors regarding a repayment plan - both informally or through a formal individual voluntary arrangement 
  • Bankruptcy - from initial explanations of the procedure right through to realising and distributing assets and advising non-bankrupt spouses on any implications
  • Advising on the implications of non-payment 

Insolvency practitioners

We also regularly act for insolvency practitioners, providing them with legal guidance on carrying out both business and personal insolvencies. Whether they are working for debtors or creditors, we are trusted legal partners to many practitioners who value our straight-talking, practical advice. Our team has experience in advising insolvency practitioners on all aspects of the insolvency procedure, including debt collection, antecedent transactions, claims against shareholders, landlord and tenant issues and employment rights.

Insolvency advice for creditors

Where companies or individuals are owed money from a customer or another individual who is in financial difficulty, we can help you to recover your debts.

For companies, we can advise on the validity of retention of title clauses, recovering goods already delivered and issue winding up petitions for non-disputed debts. As well as this, we offer our commercial clients a bespoke, digital debt recovery service.

For individuals, we can advise on and assist you with issuing or defending statutory demands or bankruptcy petitions.

Don’t just take our word for it…

Our highly-experienced department has Legal 500 recognition, which states:

Smith Partnership’s key strengths lie in administration, bankruptcy, company voluntary arrangements, as well as liquidation. Noted for her two decades of contentious insolvency experience, Ruth Ball oversees the team from Derby and is also well-versed in the full gamut of bankruptcy mandates. She is also praised for her ‘excellent client service skills’ and ’is always able to focus on the key issues at stake.’

Smith Partnership's insolvency offering is a close knit team who take a pragmatic approach to procedural and litigation matters. Their billings are competitive and they are prepared to take a commercial view on insolvency matters where appropriate. 

'The team is excellent and is able to deal with cases at all levels of complexity and value - from small personal disputes and bankruptcy issues, to multi-million pound insolvencies and disputes.'

The Legal 500, 2025

Why choose Smith Partnership?

Our team has years of experience in providing personal and business insolvency advice to individuals and businesses of all kinds, and in a range of different circumstances. We are able to draw from this experience to tailor bespoke solutions for your unique situation, ensuring you or your business reach the best possible outcome.

As a firm, we pride ourselves in providing a straightforward approach, ensuring that any advice or communications you receive from us will always be straight-talking and jargon-free. You can enjoy peace of mind knowing where you stand and your available options at every stage of the process.

Smith Partnership has offices in Derby, Burton Upon Trent, Leicester, Swadlincote and Stoke-on-Trent so you are never too far away from expert legal advice when you need it. As well as accessibility, we offer an approachable and responsive service whereby our dedicated solicitors are alway on hand to help.

Contact our team today

To find out how our expert team of law solicitors can help you, contact us today on 0330 123 1229, send us an email via info@smithpartnership.co.uk or complete our contact form.

I find Smith Partnership, in particular Ruth Ball, to be a pro-active, responsive legal firm, providing a highly professional and cost-effective service.

- Client, Business Insolvency

‘Stand out‘ and ‘unflappable‘ Ruth Ball leads the insolvency department at Smith Partnership, where she leverages over 20 years’ worth of experience in contentious matters and bankruptcy litigation, and has carved out a specialism in cases involving a high level of investigative work in relation to antecedent proceedings against directors; she also assists shareholders, lenders, creditors, insolvency practitioners and directors in non-contentious matters.

The team has excellent technical skills and are very pragmatic and results-focused. Superb client service as well.

Ruth Ball is a stand out lawyer. She has enormous experience and is unflappable. She works extremely hard and has a keen eye for the details and for achieving a pragmatic result.

Having worked with the Insolvency and Corporate Recovery Team for a number of years, I would always be happy to recommend their services. Even when we have referred tricky and time-consuming matters to them, they have always been happy to help and take a commercial view on WIP and billings, which in insolvency litigation is always welcomed.

- The Legal 500, 2023

On a day to day basis, we deal with a wide range of insolvency queries, helping clients ( individuals, directors and insolvency practitioners) deal with any business or personal issues.  

Our team has over 20 years experience in helping directors and individuals understand their duties and their rights when facing insolvency. 

We strongly advise our clients to seek advice at the early stages where options may still be available to obtain finance and restructure and to ensure that they comply with their duties and prevent any claims being made against them personally. However, at whatever stage of the insolvency process clients find themselves, we are here to help them.

- Ruth Ball, Associate

FAQs

There are different forms of liquidation including members’ voluntary liquidation, creditors’ voluntary liquidation and compulsory liquidation. A members’ voluntary liquidation is where a company is solvent and able to pay its debts but the shareholders wish to cease trading and wind up the company’s affairs. A creditors’ voluntary liquidation is where the directors of a company believe that the company is insolvent and can no longer trade. A compulsory liquidation is where a creditor of the company applies to the court for an order winding up the company.