Business Insolvency Solicitors in Leicester

If your Leicester business is facing insolvency, Smith Partnership is here to help you find a practical solution. Backed by Legal 500 recognition, our expert solicitors provide straightforward, pragmatic advice tailored to your unique situation. 

We understand the pressures of financial challenges and are committed to guiding you through the process with professionalism and care.

How We Help You

At Smith Partnership, we provide expert legal advice and support to businesses and directors facing insolvency in Leicester. Our team offers practical, clear guidance on a wide range of insolvency-related matters, including company restructuring, personal implications for directors, defending against claims, and handling disputed statutory demands or winding-up petitions. Whether you're a director or creditor, we ensure you understand your options and help you navigate the complexities of insolvency with confidence.

  • Advising Directors on Insolvency Options - At Smith Partnership, we offer expert guidance to directors on the steps to take when a company is facing insolvency or is likely to become insolvent. Our team helps directors navigate various options, such as administration, creditors' voluntary liquidation, members' voluntary liquidation, or a company voluntary arrangement (CVA), ensuring they make informed decisions to protect the business and its stakeholders.
  • Personal Implications for Directors - When a company faces insolvency, directors may face personal risks, particularly if personal guarantees are involved. Our solicitors provide tailored advice to directors, guiding them through the potential personal implications of a company’s financial difficulties, including how to manage or mitigate any claims under personal guarantees and other personal liabilities.
  • Defending Directors Against Claims - Directors may face claims against them by liquidators or administrators, including misfeasance claims, breaches of directors' duties, transactions at an undervalue, preference claims, and demands for repayment of directors' loan accounts. Smith Partnership offers expert defence advice, helping directors' protect their interests. We also advise shareholders on potential claims, including issues surrounding unlawful dividends.
  • Disputed Statutory Demands & Winding Up Petitions - Our team acts on behalf of companies involved in disputes over statutory demands or winding-up petitions. If your business is facing these challenges, we provide strategic advice to help resolve the issue, ensuring the company’s position is protected and guiding you through the legal process.
  • Advising Creditors on Statutory Demands & Winding Up Petitions - If you're a creditor looking to issue a statutory demand or winding-up petition against a debtor, Smith Partnership can assist you in taking the appropriate legal action. Our team offers expert advice to ensure your rights are upheld and the process is handled efficiently and effectively.

At Smith Partnership, we’re here to support businesses in Leicester with expert advice and solutions for all aspects of business insolvency, ensuring you navigate these challenges with clarity and confidence.

Meet Our Leicester Business Insolvency Solicitors

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

Contact our team today

  1. 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.
FAQs

It is important that you deal with the statutory demand quickly to prevent a bankruptcy petition being issued against you. If the money is due, you will need to make payment. If you are unable to make payment, you may wish to contact the creditor and agree a repayment plan or look at other options such as an individual voluntary arrangement. If the debt is disputed, you will need to make an application to the court asking for the statutory demand to be set aside (if this cannot be agreed with the creditor). You have a limited amount of time to deal with a statutory demand and, therefore, if you require any assistance in dealing with the statutory demand, you need to obtain legal advice quickly.

There are certain restrictions on trading under a similar name when a company is placed into liquidation, therefore, you should always  obtain legal advice before setting up a new company or trading.  If you breach any of the restrictions, it is a criminal offence and you may be liable to a fine, imprisonment and/or both.

There are different ways in which to place a company into an insolvency process and the cost will depend on the steps taken.   We can provide advice on the different forms of insolvency and likely costs involved.  

If a company goes into liquidation, it is likely that the business will be closed and any employees will be made redundant. If a company goes into administration, the administrator may ask some employees to continue to work although, in most circumstances, there will be redundancies. In some cases, if the Company’s business is sold after the administration, the employees may be transferred to the new company.

If an employee is owed wages, they may be able to make a claim vi the insolvency practitioner appointed or through the Redundancy Payments Office.

As soon as you become aware that it is probable that the company will become unable to pay its debts as and when they fall due, the directors should seek urgent professional advice from a solicitor or an accountant as to the options available to ensure that the directors comply with their statutory duties. In some cases, if advice is sought immediately, the business can be saved.

If you believe that you may be unable to pay your debts as and when they fall due, you should seek professional advice from your solicitor or the Citizen’s Advice Bureau as to the options available to you.

Administration is a formal insolvency procedure whereby an administrator is appointed by either the court, the directors of the company or a floating charge holder. The purpose of the administration is to either attempt a reorganisation of the business or to take steps to sell the company’s assets under the protection of a moratorium. Creditors cannot take steps against the company whilst it is in administration but they may be able to recover goods under a retention of title clause.