Insolvency & Recovery

We understand how tough it can be when your business is going through financial trouble. We’re here to give you the best possible chance of protecting your investment, minimising your risk and saving your company. Our team advise on behalf of international, national and local insolvency practitioners, companies and their directors, secured and unsecured creditors, and other third parties.

"Gosschalks has always been quick to react to client needs, often in scenarios where businesses need practical, pragmatic and commercial legal input to a distressed business transaction or turnaround situation. We always find them to be professional and friendly in their approach."

— Keith Marshall, RSM

  • Companies & Directors

    Our insolvency team advise, assist and negotiate on:

    • Corporate recovery options, refinancing and restructuring of businesses
    • The various insolvency regimes
    • Staff and workforce issues, including redundancies
    • The preparation of proposals for voluntary arrangements with creditors
    • Annulments of bankruptcy orders

    Key Contacts: Steve Dillon, Paul Plaxton, Chris Adams

  • Creditors

    Our insolvency team advises, assists and negotiates on:

    • The enforceability of security
    • The investigation of debtor’s assets and the commercial viability of claims
    • The effects of various insolvency regimes on a creditor’s ability to recover debt
    • Obtaining security in property for debts
    • The preparation and service of statutory demands
    • Obtaining bankruptcy and winding-up orders
    • Securing maximum dividends for creditors

    Key Contacts: Steve Dillon, Paul Plaxton, Chris Adams

  • Employees and Staff

    In an insolvency situation the issue of the staff is often hugely significant and can make or break a recovery package. Questions often arise about redundancies, collective consultation and the application or otherwise of TUPE. We understand that you may need prompt and practical commercial advice in an often pressurised situation and our employment law team are on hand to help.

    Key Contacts: Ted Flanagan and Nathalie Stewart

  • Practitioners

    Our insolvency team advises, assists and negotiates on:

    • The appointment of administrators, liquidators, LPA receivers, supervisors of voluntary arrangements, and trustees in bankruptcy
    • The turnaround of companies and successful trading out of administration
    • The validity of both secured and unsecured creditors’ claims
    • The adjustment of prior transactions, including payments at a preference, unlawful dividends and transactions at an undervalue
    • The recovery and protection of assets, including property and book debts
    • The conduct of directors, including wrongful or fraudulent trading and breaches of duty
    • Investigation and pursuit of delinquent bankrupts
    • Preparation and enforcement of CVAs and IVAs
    • The implications to the workforce, including redundancies
    • The disposal of businesses and assets

    Key Contacts: Steve Dillon, Paul Plaxton, Chris Adams

  • Third Parties

    Our insolvency team advises, assists and negotiates on:

    • Business and asset purchases from insolvency practitioners
    • Any liabilities that may be transferred with the purchase of an insolvent business
    • Applications to restore dissolved companies and other Companies Act applications
    • Retention of title
    • Directors’ duties
    • Wrongful and fraudulent trading

    Key Contacts: Steve Dillon, Paul Plaxton, Chris Adams

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