The specialist insolvency team at Francis Wilks & Jones are highly experienced in all aspects of personal insolvency, often dealing with complex situations which arise when an individual is made bankrupt.
Our team is experienced at assisting office holders with
- utilising the powers provided in Schedule 5 of the Insolvency Act 1986 to manage a bankruptcy estate;
- take control of the assets of the bankrupt;
- carry out investigations; and
- bring legal action to improve realisations for the benefit of the creditors of the bankruptcy estate.
We focus on taking a flexible approach and understand that each bankruptcy estate is different and as such, we work with insolvency practitioners to take the most appropriate action depending on the circumstances of each bankruptcy estate.
We utilise the full spectrum of insolvency powers available to investigate, locate, preserve and recover assets and the cases which we deal with have involved elements of fraud, regulatory breaches and cross-border claims.
We regularly provide expert assistance to trustees in bankruptcy, providing guidance on
- all aspect of post appointment issues whether they relate to either contentious or non-contentious issues;
- administrating deceased insolvent estates and bankruptcy estates where insolvent individuals are sole traders or partners when made bankrupt.
Our team provides a bespoke, tailored approach based upon the bankruptcy estate, making assessments on the feasibility and proportionality of any potential applications or causes of action. We assist with
- bringing or defending any legal action regarding the bankruptcy estate;
- compromises with creditors;
- the recovery and sale of assets and property including handling possession and sale proceedings;
- all proceedings relating to antecedent transactions such as preferences, transactions at an undervalue; and obtaining income payments agreements and orders.
If you have any questions regarding the service that we provide to Trustees in Bankruptcy or generally, do not hesitate to contact one of our dedicated insolvency experts for an informal discussion.