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CREDITORS FINANCIAL REDRESS FROM INSOLVENT COMPANIES

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Pursuant to the Insolvency Act 1986 company directors of insolvent companies can be held personally liable to creditors for the debts incurred by the company while trading insolvent or other misconduct; misfeasance or breach of fiduciary duty.

If you have been caused to suffer financial loss (unpaid undisputed debts) due to trading with an insolvent company we may, on your behalf, establish a case in law against the directors, and provided it makes commercial sense to do so, pursue them for financial redress of your loss.  In order to proceed with this course we will to present prima facie evidence of your loss; that it was caused by the directors’ actions; the company was insolvent at the time of the directors’ actions; the directors' have committed other misconduct; the directors' have the means to meet any financial redress. Don’t worry, the aforementioned in its entirety is what we set out to establish on your behalf.

Even if the former directors’ used the services of a ‘friendly insolvency practitioner’ we ensure there is no hiding place for their misdemeanour's. We seek to expose the former directors’ wrong doing and bring them to personal account by way of financial redress to you either in or out of court.

If your financial loss is over £5,000 then it will make sense to consider our service especially if your customer went into a pre-pack administration or creditors voluntary or compulsory liquidation whilst you were still trading with them. You should definitely consider our service if your customer took supplies from you in the weeks leading up to their insolvent demise.

We are also effective at the proposal stage of your customer's creditor's' voluntary arrangement and can certainly help you to recover your financial loss before your customer's creditor's voluntary arrangement becomes binding on all its creditors.

Our commercial debt recovery service to creditors is acutely specialised and may involve a mix of skilled resource being employed in the financial recovery process. However, we always seek to recover your loss plus recovery costs incurred at the earliest opportunity and without the need for litigation. The former directors' will be made aware the substantial disadvantages and adverse consequences of defending litigation instead of an early settlement by way of financial redress to you. For this reason it is not in the directors' financial or other interests to permit the financial redress proceedings to continue. They are disposed of at the earliest opportunity.

 

Our specialist financial recovery team comprise experienced professionals:

Case Manager
To keep you informed of all developments throughout.

Forensic Insolvency
When necessary forensic examination of your customer's company’s books and records, including bank statements, to establish fraud or other misconduct or misfeasance committed.

Former Police officers
Undertake field investigations which includes; conduct interviews, take witness statements, surveillance, and establish directors’ whereabouts and tracing assets.

Insolvency Lawyers
To commence litigation if necessary including obtaining court orders for disclosure (copies of documents)and or injunction (usually freezing assets).

Debt Negotiators
To achieve financial settlement terms including your recovery costs.

Client Services Director
Head coordinator of all activity

 

Contact us today for free advice or further information- 020 7504 1300

For confidential advice contact us on 020 7504 1300

Insolvency & Law Ltd
+44 20 7504 1300
78 York Street London W1H 1DP
info @ insolvencyandlaw.co.uk

Winding up Petition

Insolvency & Law advises client on a Winding up Petition to a debtor company

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Petition Debt Paid £14,442

Print Run has used the services of Insolvency and Law on two occasions in the last year. Initially the whole process of issuing a winding up petition appears to be daunting, especially for a small fish in a big sea when taking on large companies, but Peter Murray and his team made the job easy and totally seamless.

- RICHARD MILLIKEN-SMITH

Petition Debt Paid £26,717

We were owed £26,717 by one of our customers and our credit control efforts, which had included a County Court Summons, were exhausted so we looked for third party assistance and came across Insolvency & Law on the internet. After a first conversation with Peter Murray I was left feeling confident that there was indeed hope through the debt recovery services provided by I&L.

- PETER STEPHENS - CHAIRMAN

Petition Debt Paid £41,767

I&L recovered the full amount of the invoice and all my costs in issuing the Winding up Petition including the cost of the barrister Peter appointed who did an excellent job when my case went to the Companies Court.

- NICK THOMPSON - MANAGING DIRECTOR