There are a number of options available to a company or its creditors in an insolvent, or potentially insolvent situation. However, if your business is distressed, the most valuable thing you can do is to seek immediate advice from an experienced insolvency solicitor. Our Devon-based team is on hand to provide expert insolvency legal advice when required. More often than not, it is harder to deal with the situation the longer it continues.
At Kitson Boyce, we have extensive experience acting for all parties involved in or implicated by an insolvency process. Whether we are acting for Insolvency Practitioners, businesses or creditors, our aim is not to draw battle lines but to use clear and effective communications to achieve the best result for all concerned.
For Insolvency Practitioner clients, our corporate insolvency solicitors will guide, advise and represent you in whatever steps are necessary to recover assets for the benefit of creditors. When acting for creditors directly, our aim is simple: to get you paid.
For distressed businesses, we will advise and guide you through appropriate insolvency procedures to allow the company to continue trading if that is possible. If creditor pressure has become too great to bear, our corporate insolvency solicitors can advise and assist on an appropriate exit strategy.
We also provide advice and assistance for our director clients in issues arising from an insolvency situation, director disqualification proceedings and personal claims from insolvency office holders.
Where appropriate, we will refer you to our extensive network of insolvency professionals so that, together, we work towards the best result for the business and its creditors.
Our corporate insolvency solicitors act for Insolvency Practitioners across the South West and beyond. We are also engaged by a range of clients from sole traders to national companies and can tailor our approach to suit the needs of you and your business. We can offer innovative funding solutions and will, where appropriate, operate on a ‘no recovery, no fee’ basis.
To get in touch with our expert corporate insolvency team, reach out to one of our corporate insolvency solicitors at via our offices in Torquay, Plymouth or Exeter, or contact us online.
Company Administration can be a suitable next step if it is deemed possible to rescue an insolvent business. The company involved will benefit from a reprieve from creditor legal action, while creditors themselves can be assured that their interests will be put first. Our corporate insolvency solicitors have a wide range of experience assisting with the administration process, advising both company directors and creditors of their legal rights and next steps.
Administrative receiverships are a vital tool for creditors wishing to recover their debt from a company’s assets. When a receiver is appointed to recover debt in this way, our insolvency solicitors will be on hand to guide all parties involved of their rights when negotiating.
A formal agreement between an insolvent company and a creditor may be the most suitable way of navigating company insolvency. These company voluntary agreements set out a specific time frame over which debts must be repaid with professional legal advice required during the process of both drafting and implementing the arrangement.
Insolvency Practitioners will investigate the conduct of directors of insolvent companies to ensure their actions did not lead to company insolvency. In instances where a director is found guilty of misconduct or misfeasance, our corporate insolvency solicitors can provide expert legal advice related to any ongoing or subsequent procedures.
Where liquidation is the most suitable response to company insolvency, a number of important legal processes must be followed for assets to be fairly distributed to creditors and the company to be wound up. We have assisted companies big and small throughout this process and can also act on behalf on Insolvency Practitioners and creditors where necessary.
The wide expertise of our commercial solicitors means that we are also able to advise on lititgation matters related to insolvency. Whether misconduct allegations occur or there are issues resolving assets, our team can provide expert legal advice to ensure a positive resolution on all sides.
Partner and Head of Dispute Resolution and Insolvency
Lauren is a Solicitor in our Dispute Resolution team
Henry is a Trainee Solicitor
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