Liquidation

• Key contacts
• Case studies
• FWJ takeaway

Assisting our insolvency practitioner clients

We are often instructed by insolvency practitioners to advise and assist with the following issues:

• bringing or defending legal proceedings on behalf of the company in liquidation including possible claims against directors;
• continuing the business of the company as far as is required for its beneficial winding up depending on the type of business in question;
• disclaiming onerous property or contracts where necessary for the benefit of the liquidation estate in accordance with the provisions of the Insolvency Act 1986;
• highlighting and challenging certain antecedent transactions;
• selling the company’s assets and executing certain documents in the name of the company where required for the overall benefit of creditors;
• advising on D&O and other potential insurance policy claims that may result in a return to creditors;
• Insolvency Estates involving non-tangible assets (such as Cryptocurrency or Non-Fungible Tokens) and the best steps to identify, recover, take control and realise the asset.

We have also invested heavily in a fully bespoke sales ledger debt recovery system designed with insolvency practitioners in mind. For example, it is not uncommon for liquidators to be appointed over a company with a significant book debt ledger outstanding although the key supporting documents can often be missing or otherwise unavailable. Our sales ledger debt recovery system can make book debt collection seamless and maximise recoveries allowing liquidators to focus on other aspects of their appointment.

If you are a liquidator and would like to discuss your obligations or any difficulties you are facing with asset realisation or potential antecedent transactions and possible claims against directors, feel free to contact our team of liquidation specialists today to discuss your options.

Leonard Curtis has worked with Francis Wilks & Jones on a number of insolvency appointments over the years and in particular those with an asset based lending angle. I have enjoyed working with a legal team that has impressed with its depth of technical knowledge in that sector yet displaying a skill to balance this with advising on the practical and commercial issues we as insolvency practitioners face. I would have no hesitation in recommending them to asset based lenders and company directors.

Neil Bennett, partner at Leonard Curtis