Insolvency can be a complex area, so it's key to have an experienced team on your side
We have worked on many complex contentious matters representing office holders with claims for misfeasance, breach of statutory duties, antecedent transactions, unlawful dividends as well as disputes arising out of bankruptcy matters.
As market leaders in the asset and invoice finance sector we are also able to work with office holders to restructure failing businesses.
In the last year alone we have dealt with a comprehensive range of transactions, working with:
In the current climate when there is an increased risk of fraud and the disappearance of assets we regularly assist our clients in tracking down missing assets and pursuing fraudsters.
Key Insolvency and Restructuring Contacts
We advise generally in relation to companies which are subject to voluntary or compulsory liquidation including representation at creditors' meetings, advising on winding up companies by order of the Court and all legal issues arising out of liquidations. We also assist on the sale of assets, antecedent transactions and pursuing claims against third parties including directors.
We have a strong bankruptcy practice which also deals with Individual Voluntary Arrangements. We regularly initiate bankruptcy proceedings on behalf of clients who have exhausted all other means of recovery, and will continue to act on their behalf in dealing with an individuals trustee in bankruptcy or, in the case of a IVA, supervisor.
The knowledge and experience of our commercial litigation, debt recovery and insolvency teams help you minimise loss and prevent fraud, Where loss or fraud is suffered, we are well placed to assist you in maximising recoveries.
We have recently acted on the following matters:
Catalyst Business Finance Limited (our client) v Richard Tuckwell. Successfully relied upon certificate of indebtedness as conclusive evidence of both liability and quantum in claim against indemnifier
What our clients say
"PDT’s team produced superb service and support in a hefty application. The advice provided was always timely, considered and commercial. Full marks to Ian, Claire and Jonathan for persistent diligence and remaining supportively cheerful throughout!"
Harrisons Business Recovery
"Will Angas and his team have acted for me on several occasions when we have successfully recovered payments from directors or third parties which related to unlawful actions permitted by the directors prior to my appointment. Will's energy and commitment to these cases was exceptional and has resulted in significant recoveries to the benefit of the insolvent companies' creditors. In many of these cases, Will's sharp, commercial approach and strong, technical ability has resulted in settlement without the need to commence formal legal proceedings therefore reducing the risk and potential expense to the insolvent estate. I look forward to working with Will and his team on future matters"
David Clements, Director
Harrisons Business Recovery and Insolvency Limited
"I was appointed administrator of a company that specialised in reclaimed timber. Prior to going into administration, the Company had entered into a contract to supply a major high street retailer with reclaimed timber flooring in its flagship store in London. The retailer ended the contract after my appointment but just before delivery. A dispute arose as to whether the retailer was obliged to pay the contract price. Will and his team took a risk running this claim as there were no funds in the estate so any legal fees could only be paid from recoveries in the litigation. The retailer had no intention of settling the matter and did everything to stymie the claim including threats to apply for security for costs (despite the ATE insurance policy) and “David and Goliath” tactics at settlement meetings. Despite this, Will pressed on with the litigation and days before the trial, terms were agreed resulting in a substantial return to the estate that could never have been achieved but for the litigation and the valuable input from all stakeholders. Will and his team were quick to spot the merits in the claim, commercial as to its funding and progression and were tenacious and relentless in their pursuit of the retailer for payment. My team worked well with Will’s team and I look forward to working together again soon"
David Oprey, Partner
"I was appointed Joint Administrator of Toys “R” Us Limited in February this year. I instructed PDT to help me recover large, disputed balances owed by trade vendors based in the UK, USA and Asia. The claims and underlying vendor agreements were contractually complex, with international dimensions, and were often heavily disputed by well-resourced toy manufacturers. Will, Justin and their recoveries team were commercial, responsive and successfully negotiated substantial recoveries from vendors – to date - in excess of six-figures for the benefit of creditors."
Simon Thomas, Director
Moofields Advisory Limited