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.
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.
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
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.
A practical guide to directors’ duties during the coronavirus pandemic
Nick Booth and James Robbins from Harrison Drury’s insolvency and commercial team offer guidance for company directors, following the government ’s recent range of measures to help businesses continue trading…
How businesses can protect their finances during the COVID-19 pandemic
James Robbins and Benjamin Hughes from our insolvency and debt recovery team look at how businesses can protect their finances during the COVID-19 pandemic and put measures in place to…
Do directors’ duties remain after a company enters into a formal insolvency process?
Nick Booth, a director at Harrison Drury and dispute resolution specialist, comments on the recent ruling that addresses the continuing duties of directors after a company enters into administration or…
Using winding-up petitions to recover debts
James Robbins, senior associate solicitor in Harrison Drury’s insolvency and business recovery team, looks at instances where it might be useful to consider a winding-up petition to recover a debt.…
What should you do if you’re affected by Carillion’s insolvency?
Construction firm, Carillion PLC, announced this week that it and its five sister companies had been placed into compulsory liquidation. Harrison Drury’s construction and insolvency teams look at what this…
Can I recover the legal cost of chasing bad debt?
Harrison Drury’s Jack Stephenson explains how companies can use terms and conditions to protect themselves and increase the chances of recovering the cost of chasing bad debt. Unfortunately, bad debts…
Six legal issues to address when negotiating contracts
Large businesses that are used to negotiating contracts on a day-to-day basis will no doubt be familiar with the legal pitfalls involved. They may have dedicated procurement departments handling negotiations…