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Appointment Planning and Strategy

The core practice of the team relates to work done for insolvency practitioners, starting with planning for their appointment and formulating the strategy for what is to be done when they are appointed. The team frequently get involved in the weeks and days leading up to a formal appointment, assisting with the appointment process and preparing the necessary documentation, adopting a delicate balance between time constraints, statutory formalities and timetables, creditor pressure and other commercial considerations.

Our insolvency solicitors are highly skilled and well known for dealing with this type of work, acting on a regular basis in respect of out-of-court appointment of administrators as well as dealing with procedural applications for administration orders and assisting with the formalities involved in the appointment of voluntary liquidators.

Sales of Business and Assets

The team frequently assist with sales of businesses and assets out of administration, sometimes on a “pre-pack” basis. This involves specialist skill in terms of managing the transactional process and negotiating with the buyer’s solicitors, due to time critical and creditor pressures. The team know exactly how the sale contract must be drafted to take into account the insolvency of the seller and all statutory requirements of the administrators and they will always seek to balance that against commercial considerations to see the transaction complete as quickly as possible. The team have a sound reputation for handling transactional matters arising on insolvency.

Our insolvency lawyers also handle sales of assets by liquidators or trustees in bankruptcy, including property interests that vest in them.

Officeholder Duties and Compliance

The team offer a complete service to practitioners whilst they are in office. They are available to handle all legal matters arising during the lifetime of an insolvency case, to ensure that they comply with their statutory duties in realising assets and making recoveries for the benefit of all of the creditors of an insolvency estate.

Our team recognise that insolvency practitioners are subject to strict regulation and that everything they do whilst in office is governed by the statutory framework of insolvency legislation which the team have an in-depth knowledge of.

They will help navigate officeholders through scenarios which test or challenge them as regards the correct application their statutory and regulatory duties. The team will assist to ensure compliance and full discharge of their obligations and to protect them against any personal liability.

Property Disposals by Insolvent Estate

The strength of the firm’s Real Estate practice compliments the work carried out by the Restructuring and Insolvency team enabling property disposal work out of insolvency to be handled by those with expertise in both property and insolvency law.

Our team fully appreciate and understand the specific and nuanced nature of these transactions which differ from other types of property transactions and they will draft the sale contract and conduct the negotiations in a suitable way to protect the interests of the insolvency estate and officeholder as well as achieve a quick disposal.

LPA Receivership Appointment and Sales

The team commonly act for insolvency practitioners or others who are qualified to take appointment as LPA receivers in respect of property or land. The team have in-depth knowledge of the technical legal framework that applies to such appointments and the complexities of the appointment process and can advise on all aspects to ensure that LPA receivers discharge their duties and effect sales in a timely manner.

Officeholder Claims under the Insolvency Act 1986

The team have a sound reputation for handling claims by insolvency practitioners that arise on their appointments under the provisions of the Insolvency Act 1986. Their work includes acting for officeholders in respect of antecedent transactions and claims against directors of insolvent entities such as misfeasance or other breaches of duty. The team have an excellent working knowledge of the law relating to such claims and can advise on the strategy for pursuing them as well as taking into account funding considerations.

Creditor Claims and Distribution Planning

Dealing with creditor claims in insolvency requires careful handling and full analysis of the available evidence in order to ensure that creditors are paid what they are entitled to. Our creditor claims solicitors understand the statutory framework for dealing with creditor claims and can guide as the officeholders’ duties and responsibilities in respect of assessing them with a view to determining the dividend payable. Where there are contested matters in respect of creditors’ claims, the team will deal with those in an efficient and proportionate manner to ensure minimum costs impact to the insolvency estate.

Restructuring & Insolvency

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