When a business or individual that owes you money becomes insolvent all is not necessarily lost. Creditor’s can claim a share of the insolvent estate by lodging a proof of debt form and can also influence the outcome of the insolvency by either attending or voting by proxy at creditor’s meetings convened by the Official Receiver or an Insolvency Practitioner.

All too often creditors misunderstand the insolvency process or are ambivalent what happens after the insolvency event. Our lawyers work with creditors to ensure that their claim in the insolvent estate is maximised and that they exert influence over the way in which the insolvency process is managed so as to increase the overall dividend that they receive from the insolvency process.

Where appropriate we can assist in the transfer of an insolvent estate to another insolvency practitioner who will investigate the business’s accounts and the conduct of it’s directors. This regularly leads to the discovery of further assets in the form of claims against directors and third parties which increase the overall fund available for distribution to creditors.

Our experience includes:-

• Advising an insurance company in connection with a substantial claim for unpaid insurance premium against both it’s former broker (in liquidation) and the liquidators in respect of monies supposed to be held in a client account;
• Advising an office fixtures and fittings company in respect of a claim for retention of title claim in respect of goods worth circa £70K;
• Advising a haulage company in connection with the realisation of a contractual lien over goods held in it’s ware house by a company in administration;
• Advising a Japanese multi-national electronics company in connection with the recovery of additional sums in a liquidation from the company’s directors via the use of specialist insolvency practitioners.

Call Luke Harrison on 01727 735639 (DDI) or email lth@dolegal.co.uk