If your organisation or company may be unable to pay its creditors, it is at risk of insolvency. As a director you have a legal obligation to act in the best interests of the company and may be in breach of legislation if you do not do so.
When you suspect that insolvency is likely, we can advise you on all the options available to you and your company, always bearing in mind the specific details of your situation.
If a Company Voluntary Arrangement is appropriate for your company and its creditors, we can advise on all aspects of the terms of the arrangement and assist you to find a supervisor. You can then call on our legal expertise to assist you in trading out of the situation you are in.
We can support you in any matter relating to either the compulsory or voluntary liquidation of your company – or in finding a realistic course of action to avoid having to wind it up.
Please call us to discuss any matter relating to insolvency, including:
- Acting quickly to protect you from legal action from your creditors if your company has to be placed into administration;
- Negotiating with HMRC or other creditors directly;
- If you are subject to a winding up petition we seek emergency validation orders to allow payments to be made lawfully from your company bank account;
- We can assist in any matter relating to the compulsory winding up of your company;
- Advice on property aspects of insolvency – whether you are the tenant of an insolvent landlord or a landlord who may become insolvent;
- Complete legal support to company directors facing directors’ disqualification proceedings or any other action issued by an Administrator or Liquidator;
- We also assist with the restoration of a dissolved company, reusing a company name and applying to treat the company as though it had not been wound up.