Insolvency Proceedings
Financial problems are a fact of life and the economic cycle takes no prisoners. You may be a business facing serious financial difficulties or a creditor trying to recover a debt and on some occasions it will be necessary for you to consider insolvency process as the solution to those difficulties.
The Royds Insolvency Team has recognised expertise in advising on and managing insolvency processes which could help rescue you from financial problems. The Insolvency Team is made up of lawyers from multiple disciplines with particular knowledge and experience of insolvency law which enables the firm to give holistic support to businesses and individuals facing financial problems. In particular we work closely with our Company/Commercial colleagues to offer first rate advice.
As part of the Insolvency Team the Royds Dispute Resolution departments offers the following specialist services:
Corporate Insolvency
- Administration Orders – applications to the Companies Court for orders for appointment of company administrators to rescue a failing business.
- Company Voluntary Arrangement – advice on and assistance in the setting up of an arrangement with creditors to allow your business to keep trading
- Winding up petitions – applications to the Companies Court for creditors’ voluntary, members’ voluntary and compulsory winding up of private limited companies of all varieties.
- Directors’ applications – including bringing and defending actions for:
- fraudulent and wrongful trading
- transactions to defraud creditor
- restriction order
- transactions at an undervalue and preference
- applications for permission to be a director of a company under a similar name
Personal Insolvency
We act for and advise creditors seeking to bankrupt recidivist debtors and individuals who require advice on the options available to manage their debts.
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Bankruptcy – bringing and defending petitions for bankruptcy in the High Court and local County Courts.
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IVA and Creditor Agreements – we can put you in touch with reputable arrangement managers and advice your on and even draft appropriate agreements between you and your creditors.
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Debt Relief Orders – a simplified form of individual arrangement with your creditors, we can advise you on whether this is an appropriate way of managing your debts.
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“Firefighting” – sometimes it is just a question of having enough time to be able to pay your creditors. We can help you gain that time by fighting effectively in your corner where threats of immediate action are made by your creditors.
Creditor Services
We are highly experienced in using insolvency process and the court system as a debt recovery strategy. We have particular expertise in drafting and effective service of statutory demands and defeating debtors’ applications to set them aside.
On the corporate side we have also acted successfully for creditors faced by debtors’ injunctions to prevent presentation or advertisement of winding up petitions.
Insolvency Practioner Services
We have excellent working partnerships with insolvency practioners and offer a full support service to administrators, liquidators and trustees, including:
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Investigation Support – private examination, orders to attend for questioning and warrants for arrest.
- Legal Services for Complex and International Insolvencies
- Orders for Sale – freehold, leasehold and shared ownership
- Landlord & Tenant matters
- Office Holder Applications – preference, undervalue and actions to defraud creditors
Contacts: Stewart Wilkinson.
