When a personal guarantee has to be given in order to give a lender the security it needs, the guarantor hopes that the guarantee will never be called in. However, when it is, the loss suffered by the guarantor will normally qualify as a loss for Capital...
We work closely with our Corporate & Commercial team to advise companies on the full spectrum of restructuring options available to them. We focus on the needs of their business, directors, owners, lenders and employees to ensure we always deliver the best solutions which are intended to enable companies to strengthen their business where possible. We always take a commercial approach to ensure the best outcome for all interested parties.
Directors’ duties and liabilities
We are regularly instructed by directors who require advice on:
- What they can do to keep their company in business without committing an offence or incurring personal liability
- At what stage must they decide to cease trading
- If they do cease trading, which insolvency procedure is appropriate and how it should be conducted
We work closely with insolvency practitioners who can be nominated to act as office holder in the insolvency proceedings and we look to engage them as early as possible in the process.
Where insolvency proceedings have begun, we are able to assist directors in defending proceedings brought by the office holder under the Insolvency Act 1986 and/or Companies Act 2006 and which may include claims in misfeasance, wrongful trading, fraudulent trading, transactions at an undervalue, transactions defrauding creditors, preferences or for contributions to the company’s assets.
We are experienced in advising directors on defending directors’ disqualification proceedings brought by the Secretary of State under the Company Directors Disqualification Act 1986.
Investigations and Litigation
We are regularly instructed by insolvency practitioners who have been appointed as office holder in administrations, liquidations and bankruptcies to investigate and commence proceedings against company directors and third parties. We are extremely experienced in advising on and bringing claims under the Insolvency Act 1986 and/or Companies Act 2006 and which include (where appropriate) claims in misfeasance, wrongful trading, fraudulent trading, transactions at an undervalue, transactions defrauding creditors, preferences or for contributions to the company’s assets.
We also assist insolvency practitioners in all matters concerning the insolvency process including notices to creditors, deemed consent and virtual meeting procedures, proxies, proof of debts, issues raised as regards remuneration, sale of assets or conduct of the office holders’ generally.
We have experience in advising on cross-border insolvency matters and have a detailed understanding of the EC Regulations on Insolvency Proceedings (Council Regulation (EC) 1346/2000 on insolvency proceedings and Regulation (EU) 2015/848 of the European Parliament and of the Council of 20 May 2015 on insolvency proceedings (recast)).
We are experienced in advising LPA Receivers on their appointment, their powers and duties and the ultimate disposal. If a dispute arises during the course of the Receivership, we advise on the dispute and resolve it efficiently.
For further information, please contact:
Jonathan Mahony (Harrow) on 020 8422 5678
Jeremy Lederman (West End) on 020 7224 0888
James Oxley (West End) on 020 7224 0888
Alim Shariff (Harrow) on 020 8422 5678
Matthew Hawthorne (West End) on 020 7224 0888