Winding up the affairs of a company is rarely straightforward and can often result in disputes where the interests of creditors clash or the management team come under scrutiny as the appointed insolvency practitioner tries to figure out what went wrong.
Seeking prompt advice is crucial, particularly where the validity of an insolvency process is in question or the possibility of personal liability is raised against office holders accused of improper conduct.
At IMD Solicitors, our team of dispute resolution experts experts are on hand to provide you with the advice that you need to protect your interest or further your claim, whether you are a disgruntled shareholder, an embattled director, a secured or unsecured creditor or an administrator, receiver or liquidator.
Our service not only covers UK-based insolvency disputes, but also those with a European element or which involve off-shore companies with a UK presence.
How IMD Solicitors can help
From a company’s perspective, we can assist you to:
- defend insolvency proceedings brought in respect of a disputed debt or which constitute a clear attempt to frustrate existing proceedings already underfoot;
- defend attempts by shareholders to close the the company down via a just and equitable winding up application or pursuant to an unfair prejudice petition;
- object to the appointment of an administrator or an administrative receiver;
- apply to the court for the adjournment of a winding up petition to enable proposals for a company voluntary arrangement or a company administration to be considered; and
- apply to the court for a validation order to unfreeze the company’s bank accounts following advertisements of a winding up petition.
From a director’s perspective, we can provide:
- advice and support in respect of section 235 or 236 Insolvency Act interviews into the conduct of the company’s affairs;
- advice on the defence of allegations of fraudulent or wrongful trading made against you following the appointment of a liquidator;
- advice on attempts by a liquidator to pursue you for monies said to be owed by virtue of your involvement in or sanctioning of a transaction at an undervalue or a preference; and
- advice on the defence of directors disqualification proceedings.
From a shareholder’s perspective, we can provide advice on:
- the resolution of shareholder disputes, including via the use of a range of insolvency options;
- the recovery of shareholder capital; and
- the defence of attempt to recover dividend payments alleged to have been inappropriately paid.
From an insolvency practitioner’s perspective, we can assist with:
- challenges to your appointment of your handling of the insolvency process;
- breach of fiduciary duties and misfeasance claims against directors;
- company asset preservation through the use of injunctive proceedings, including worldwide freezing order; and
- UK and international asset recovery following a company’s collapse.
We can also help to resolve Centre of Main Interests claims between off-shore companies and UK lenders, in which we have particular expertise.
Why choose IMD Solicitors?
Our dispute resolution team are well-known for their insolvency advice and litigation expertise, particularly in complex high value cases and in cross-border disputes involving international entities.
We regularly appear before the UK High Court to prosecute and defend insolvency claims and have an impressive track record in doing do with considerable success.
The fact that we can act for companies, creditors and insolvency practitioners in equal measure is highly prized as it gives us a unique insight into the matters we deal with and the ability to quickly evaluate cases and identify possible means of compromise.
We are also valued for our ability to work collaboratively with other members of the IMD team who can provide valuable assistance where an insolvency event has been triggered by an underlying corporate dispute, including:
- a supplier of customer dispute;
- a contractual dispute;
- a shareholders dispute;
- a directors dispute; or
- a dispute which has already resulted in an arbitration or adjudicator’s award.