Insolvency

If your company is experiencing financial difficulties we can offer advice on business turnaround, restructuring or formal insolvency proceedings, as well as advising directors on their obligations and duties under the insolvency and companies legislation, or creditors dealing with a business in financial difficulty.

We can also advise on issues arising from personal insolvency, whether facing bankruptcy yourself or considering presenting a bankruptcy petition.  As well as advising trustees in bankruptcy on causes of action under insolvency legislation, and on the realisation of assets.

Personal Insolvency

We can advise individuals, creditors and trustees in bankruptcy on all aspects of personal insolvency including:

• issuing and defending statutory demands and bankruptcy petitions;
• dealing with bankruptcy annulment applications and orders;
• bringing or defending claims arising from bankruptcy, including reviewable transactions such as transactions at an undervalue, preference claims and claims pursuant to section 423 of the Insolvency Act; and
• possession and sale of property applications by trustees in bankruptcy (both bringing and defending, including claims where the registered interests do not reflect the equitable position);
• assignments of causes of action; and
• advising all relevant parties in respect of individual voluntary arrangements.

For further information, please contact Company and Commercial Services Partner Marina MacLennan on 0117 929 2811 or email marina.maclennan@wards.uk.com.