In addition to dealing with the non-contentious aspects of insolvency, our Business Recovery & Insolvency team in each UK office includes lawyers who specialise in dealing with any contentious issues arising during a company's insolvency. This specialist investigations & insolvency litigation expertise is vital to ensure that recoveries are maximised for both security holder and creditor.
The work conducted encompasses all applications and remedies provided for under the Insolvency Act 1986. This is varied, and includes:
- Challenging voluntary arrangements.
- Applying for directions from the court.
- Taking proceedings against former officers of a company for misfeasance, wrongful trading or breach of duty.
- Setting aside preferences and transactions at an undervalue.
- Advice on distraintor execution and taking and defending proceedings by or against office holders for breach of contract or conversion.
We also regularly advise boards of directors on their obligations under the provisions of the Companies Act 1985 and the Insolvency Act 1986, and defend applications against directors for disqualifications under the terms of the Company Directors Disqualification Act 1986.
The contentious lawyers and mediators in the Business Recovery & Insolvency team also advise on all aspects of disputes arising out of contracts, retention of title issues, hire purchase and leasing involving insolvent companies together with other creditor claims. We also have a specialist team that deals with debt recovery. A particular area of expertise of the team is the tracing of assets and the proceeds of fraud, for example, getting behind nominees holding assets on behalf of an insolvent individual or company.
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