Isadore Goldman has a long standing and strong reputation for its work with Insolvency Practitioners.
Insolvency and working with Insolvency Practitioners is a core part of our business. When you instruct Isadore Goldman, you work with genuine insolvency specialists who understand not only the technical and tactical aspects of the work but the importance of the relationship between an Insolvency Practitioner and his or her legal team.
We understand the need to value and respect the relationship we have with our Insolvency Practitioner clients. When the chips are down or when personal advice is required, we are often the first choice of lawyers for Insolvency Practitioners.
We also recognise the importance, in relation to contentious matters, of putting together a funding package, or a package on conditional fee terms, focused on potential outcomes to ensure a successful claim will be beneficial to the client and to the creditors.
As part of that, we understand the need to compromise on fees where necessary. There is no point winning a case if only the lawyers get paid, and the clients do not.
Our senior lawyers have vast and varied experience in dealing with all aspects of insolvency and restructuring. Indeed, we are often followed by the view: “if it is difficult, novel or innovative, give it to Isadore Goldman.”
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Why our market-leading insolvency solicitors are the right choice for Insolvency Practitioners
Independently recognised expertise
A wide range of expertise
We act for Insolvency Practitioners and other professionals involved in insolvency processes across the sector, from professionals at the ‘big 4’ firms through to sole practitioners.
Whatever our client’s professional background, we provide the same high levels of bespoke advice and practical guidance delivered through a commercial lens and in consideration of risk factors.
All your legal options explained in clear terms
As an Insolvency Practitioner, you will be aware of how complex insolvency can become and how litigation is always a potential risk, particularly in large-scale and high-value cases. We advise in both personal and corporate insolvency matters, setting out all the legal options in clear terms and providing advice about the way forward. We also advise in contentious insolvency cases, helping the client reach suitable resolutions as cost-effectively as possible.
Our services for Insolvency Practitioners
Pre-appointment advice and strategy
Our team have substantial experience supporting Insolvency Practitioners from very early on in the process. We can provide pre-appointment advice, developing a strategy for approaching the appointment in consideration of factors such as legal and regulatory formalities, compliance, the needs of creditors, and other commercial considerations.
Corporate insolvency and restructuring
We can advise Insolvency Practitioners on their responsibilities when they act in a wide range of corporate insolvency and restructuring procedures, including:
- Acting as Liquidators of companies further to a winding up petition (compulsory liquidation), creditors’ voluntary liquidation or members’ voluntary liquidation
- Acting as Liquidators of a partnership
- Conducting negotiations and liaising with creditors
- Working with company employees in redundancy proceedings
- Acting as Administrators and seeking to achieve the purposes of administration
- Selling business assets and pre-pack administration
- Acting as Receivers pursuant to a fixed charge, floating charge or the Law of Property Act
- Acting as Nominees and/or Supervisors in Company Voluntary Arrangements and Partnership Voluntary Arrangements
Claims against directors
We regularly represent insolvency practitioners in bringing claims against company directors in respect of wrongdoing or personal liabilities. Our expertise includes:
- Overdrawn directors’ loan accounts
- Distribution of unlawful dividends
- Transactions at undervalue
- S423 claims
- Breach of fiduciary duty and misfeasance claims
- Preference payments
- Wrongful trading
- Fraudulent trading
Personal bankruptcy and claims against individuals
We advise Insolvency Practitioners in a wide range of personal insolvency matters, from handling technical issues relating to bankruptcies to bringing legal claims against individuals. Our expertise includes assisting Insolvency Practitioners in:
- Acting as Trustee in bankruptcy, taking control of and selling assets, and distributing funds between the individual’s creditors
- Acting as a Supervisor in an Individual Voluntary Arrangement
- Handling the repossession and sale of assets
- Dealing with co-owned interests in property
- Advising on bankruptcy annulments
- Pursuing claims by the Trustee in Bankruptcy, including transactions at undervalue and preference claims.
International and cross-border insolvency
Our insolvency lawyers have considerable experience representing Insolvency Practitioners in UK-based bankruptcy and corporate insolvency matters involving international debtors, creditors, lenders and assets.
We are members of INSOL International, the International Association of Restructuring, Insolvency & Bankruptcy Professionals, and are well placed to advise Insolvency Practitioners on a wide range of matters, including:
- Enforcing creditor rights in overseas jurisdictions
- Liaising with overseas insolvency and legal professionals
- Taking steps to preserve and recover assets in foreign countries
Insolvency disputes and litigation
We represent Insolvency Practitioners in disputed insolvency matters, including applying our strong negotiation skills to resolve matters as amicably and cost-effectively as possible, and providing strategic representation during court proceedings. Our expertise includes:
- Proceedings and applications under the Insolvency Act 1986
- Claims against directors and third parties
- Banking and finance litigation – representing Insolvency Practitioners in matters involving financial institutions, including banks, building societies, insurance companies, brokerages, and other secondary lenders
- Fraud and asset recovery advice and services
- Winding up petitions and bankruptcy petitions
Defending claims against Insolvency Practitioners
Insolvency is complex, and as an Insolvency Practitioner, you have considerable legal and regulatory responsibilities, which can sometimes result in legal claims. We can defend you against all types of claims, such as:
- Regulatory complaints
- Professional negligence claims regarding alleged issues such as poor advice or failing to properly account for assets when preparing financial reports
- Underselling claims – where a creditor claims that the Insolvency Practitioner has not realised the best price in selling assets
- Claims of unlawful means conspiracy – where it is alleged that the Insolvency Practitioner has ‘conspired’ with a secured creditor (such as a bank) to place a company into insolvency in order to generate professional fees
Contact us for advice for insolvency practitioners
If you are an insolvency practitioner looking for expert legal advice and support, please speak to our specialist team today.
Sign up to our free, regular bulletin on technical insolvency issues for our Insolvency Practitioners. This helps to keep our clients up to date on all industry changes and useful practical information.
The information contained within this website is for information only and should not be construed as an accurate summary of the law or legal advice on any matter.
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