We act for both Insolvency Practitioners and directors/third parties in connection with the pursuit and defence of claims bought under the Insolvency Act 1986.
These claims include:-
- Transactions at an undervalue
- Preferences including the repayment of director’s loan accounts
- The recovery of overdrawn director’s loan accounts
- The recovery of company property including book debts
- Claims arising out of wrongful and fraudulent trading
- Claims for misfeasance and breach of fiduciary duty
Our experience of acting for both sides in such disputes enables us to promptly resolve disputes or, in the case where resolution is not possible, to pursue the matter vigorously and in a clinical fashion to trial or final hearing.
Where litigation arises out of an insolvent business there is normally an added layer of complexity. Witnesses may not be willing or readily contactable and there may not be the documentation required to support the claim. Our lawyers work closely with clients to gather evidence, if necessary by using powers under the Insolvency Act 1986 in order to interview witnesses or recover documents.
Our experience includes:-
- Acting for an Insolvency Practitioner in connection with a claim against a director of an electronics distributor for sums paid at a preference and misfeasance.
- Acting for an insolvency practitioner in connection with claims against three former directors for sums due under overdrawn directors loan accounts.
- Acting for an individual in connection with a proposed claim by an insolvency practitioner for £100K being an alleged transaction at an undervalue.