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  • Preston Office
    1a Chapel Street Winckley Square PR1 8BU
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    21 Church Street Clitheroe BB7 2DG
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    21 Castle Hill Lancaster LA1 1YN
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    Bridge Mills, Stramongate Kendal LA9 4BD
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    Cherestanc Square, Rope Walk Garstang Preston PR3 1EF

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Insolvency & Business Recovery

At Harrison Drury, we work closely with insolvency practitioners, businesses in financial distress, creditors and other stakeholders in relation to both contentious and non-contentious insolvency issues.

Pre-Insolvency

We assist distressed businesses at the pre-insolvency stage by advising on their insolvency, restructuring and reorganisations options, advising directors on their obligations and duties in order to reduce the risk of them incurring personal liabilities, debt recovery and negotiating with creditors. We also advise other affected parties on the nature and effect of insolvency.

Insolvency

We draw on the experience of our corporate and commercial, commercial property and employment teams to provide complete and seamless advice to insolvency practitioners and other stakeholders, including in the following areas:

  • Disposals of assets by insolvent companies, including pre-packaged sales
  • Acquisitions of assets from insolvent companies
  • Disposals of distressed properties
  • Drafting documentation in relation to insolvency appointments and processes and advising insolvency practitioners on their conduct and other issues
  • Advising on employment issues in an insolvency context, including on TUPE  and redundancy advice
  • Reviewing contracts

Insolvency Litigation

We have extensive experience of dispute resolution in relation to insolvent and distressed companies.

This includes debt recovery and general dispute resolution, such as contract and negligence actions, but also the following specialist areas:

  • Claims against directors for antecedent transactions, such as preferences and transactions at an undervalue, misfeasance, wrongful and fraudulent trading
  • Advising directors on claims and disqualification proceedings
  • Asset recovery, including freezing and seizure orders
  • Book debt recovery
  • Advising landlords of insolvent companies
  • Retention of title claims and enforcing security
  • Restoring companies to the register to allow assets to be realised
  • Statutory demands – service and dealing with applications to set aside
  • Presenting and defending winding-up and bankruptcy petitions

We appreciate that funding can often be an obstacle to pursuing claims in insolvency situations and in appropriate cases we will therefore consider whether services can be undertaken on a contingent basis with no upfront cost to you. In all cases, we will offer detailed costs advice at the outset and can in many cases act on a fixed fee-basis.

Whatever the issues to be dealt with, we offer clear, practical advice and from an early stage set out a road map to make it possible for clients to achieve their objectives in the most effective and efficient way possible.


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