What is the role of an insolvency solicitor?

As an insolvency solicitor, my role is to assist those involved in, or affected by, insolvency issues.  In this regard, I regularly deal with both contentious and non-contentious matters on behalf of insolvency practitioners, financial institutions, directors, individuals and creditors (including suppliers and landlords).

I regularly advise on a wide range of insolvency issues, including:

• Preparing statutory demands, effectively a written request to a debtor for the payment of a debt, as well as more complex and serious petitions such as winding-up petitions for creditors or other interested persons wishing to wind-up a company and bankruptcy petitions in respect of filing for a person’s bankruptcy.
• Assisting to secure the survival of companies by way of company reconstruction advice based on reorganisation and refinancing solutions.
• Providing advice on how to carry out an asset purchase or the purchase of a business when the seller is in administration.
• Drafting and negotiating asset sale or purchase agreements for liquidators, administrators, receivers and management teams.
• Dealing with asset recovery and retention of title issues.
• Reviewing contracts and claims and assisting with contested book debt recoveries.
• Debenture validations.
• Assisting with preferences, transactions at an undervalue, transactions defrauding creditors and misfeasance claims.
• Advising on the purchase of businesses and assets from insolvency practitioners.
• Advising on the re-use of company names and any relevant restrictions.
• Advising upon fraudulent and wrongful trading issues.
• Advising on director disqualifications.

Much of my work is for licensed insolvency practitioners and my clients include local and national firms.

Recent notable cases I have assisted with include:

• A successful application to the High Court to challenge the appointment of administrators.
• Defending an application to set aside a statutory demand.
• Commencing proceedings on behalf of liquidators against former directors of a company in liquidation in respect of various antecedent transactions with claims totalling in excess of £34 million.

 Christopher Buck is an Associate Partner in our Business Services Department and can be contacted on christopher.buck@franklins-sols.co.uk or 01908 660966 / 01604 828282.