Is your company insolvent? Has your company entered liquidation or administration? If so, does your company have an insolvency dispute? This could include either a liquidation dispute or an administration dispute? Are you concerned that there might be a personal claim against you? If so, you have come to the right place, our Insolvency Lawyers can assist. Please contact us immediately.
Took the time to listen to my specific case and were honest enough to give their opinion on the potential outcome(s).
We advise on insolvency dispute or litigation. We have extensive experience of advising and defending directors in relation to liquidation disputes and administration claims. Our Insolvency Solicitors act for directors, either individually or in a group. There can be cost benefits in acting as a group.
Our Liquidation Solicitors also have an excellent track record of settling claims before trial and in some instance before court proceedings are issued. In many cases, our Insolvency Lawyers have obtained extremely favourable outcomes for our clients and where we have settled matters, the settlement has been far below the original insolvency claim value. We robustly defend our client’s position.
Our Insolvency Dispute Solicitors understand that you just want to get on with your life and put this episode in the past. We believe that we have the experience and guile to assist you in settling your insolvency litigation as soon as possible, without any detriment to you. The key is to determine your defensive strengths and use them to your advantage in negotiations with the other party to settle any insolvency claim – this is where our experience and expertise comes into play.
Please call our Liquidation solicitors today and get advice on your insolvency litigation.
Breach of Directors statutory and fiduciary duty – Directors of a company have legal duties which are included in sections 171 to 177 of the Companies Act 2006. These duties include (i) Duty to act within powers; (ii) Duty to promote the success of the company; (iii) Duty to exercise independent judgment; (iv) Duty to exercise reasonable care, skill and diligence; (v) Duty to avoid conflicts of interest; (vi) Duty not to accept benefits from third parties; (vii) Duty to declare interest in proposed transaction or arrangement.
Misfeasance (s212 IA 1986) – where directors have misapplied, retained or become accountable for any money or other property of the company.
Fraudulent Trading (s213 and s246ZA IA 1986) – where directors have knowingly carried on the business of the company with the intent to defraud creditors of the company.
Wrongful Trading (s214 and s246ZB IA 1986) – directors are liable to make a contribution to the company’s assets where, it appears that they knew, or ought to have concluded, that there was no reasonable prospect that the company would avoid going into administration or liquidation.
Transactions at an Undervalue (s238 IA 1986) – directors are liable where the company makes a gift to or enters into a transaction with, a person for no consideration or consideration at a value that is significantly less than the value of the asset.
Preferences (s239 IA 1986) – directors are liable where the company gives preference to one of the company’s creditors, by doing or allowing something, which places that creditor in a better position than they would have otherwise been in the event of liquidation or administration, had it not happened.
