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Insolvency Lawyer Issues UK Court Summons via Facebook

A lawyer has used Facebook to serve a court summons, in what experts claim is the first case of its kind in the UK. Solicitor Hilary Thorpe claims she had exhausted all conventional methods of trying to contact a debtor on behalf of a client, before recalling a case in which the Supreme Court in…

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Corporate Insolvencies to Drop Following Appeal Court Ruling

A ruling by the Supreme Court in London could lead to a reduction in corporate insolvencies and stop creditors from chasing struggling businesses. Earlier this month, the Court of Appeal rejected a lawsuit by shareholders from British finance company Eurosail who claim the firm should be liquidated after buying £650m of UK mortgage-backed bonds from…

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Struggling Business Owners Will Act Swiftly, If They Are Smart

In December, I warned that company insolvencies would soar over the next 12 months. Now, new research suggests that one million businesses are currently facing ‘financial distress’, with 850,000 UK firms currently suffering from decreased profits. Insolvency & Law provide services for companies in trouble, and businesses affected by companies in trouble i.e. creditors.

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What’s More Important: Managing Debt or Bad Practice?

Last year, I advised a company that went bust owing £100,000. The Insolvency Service sought to have the company’s director disqualified, but he couldn’t understand why as his liabilities dwarfed the sums owed by other companies. I explained that he faced prosecution because of his conduct rather than the size of his debt. You may…

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