Restructuring and Insolvency
The Restructuring and Insolvency Team at Harrison Clark Rickerbys can deal with the whole range of issues that may arise when the threat of insolvency occurs.
Our dedicated team deals solely with insolvency and restructuring related matters. The team has years of experience and has built up a comprehensive contact base over a range of industries, sectors and institutions which includes sources of funding for distressed businesses.
We also provide advice and assistance with issues which arise outside of, or prior to, such formal procedures, including the full range of corporate and debt restructuring options. We can also assist in providing guidance as to potential sources of new funding and by liaising with existing lenders and other stakeholders.
The team is known for its dedicated insolvency expertise, as well as a strong directors’ duties practice. Works seamlessly with other departments, such as commercial property, to offer a well-rounded service to clients.
Chambers and Partners rankings
We assist with issues facing directors of companies which are in financial difficulties, such as personal guarantees, wrongful trading, misfeasance/breach of duty, disqualification proceedings and antecedent transactions such as preference claims, transactions at an undervalue, illegal dividends and unlawful director loans. We regularly act for both office holders (i.e. liquidators or administrators) and individuals or companies facing claims being brought by the office holders. This puts us in a position of strength as we instinctively know where the strengths and weaknesses are in each case coupled with the respective opportunities and threats.
Our expertise also includes a strong element of personal insolvency matters and we will deal with all issues arising in bankruptcy, or in trying to avoid bankruptcy, such as individual voluntary arrangements. We also act for trustees in bankruptcy in bringing claims to realise assets for the benefit of the bankruptcy estate, whilst also being in a position to best advise individuals facing such claims (in particular, bankrupt’s spouses and property co-owners).
Whether you are an individual, a company, lender or an insolvency practitioner, our team is able to combine first rate technical expertise with a no-nonsense, practical and commercial approach.
The team works closely with Harrison Clark Rickerbys’ Corporate, Commercial and Commercial Property teams in finding innovative solutions to insolvency-related issues. We are also working closely on various projects with our health care, education and energy teams.
Insolvency Litigation Funding
We have devised a number of funding options to suit clients’ different financial needs, to include, but without limitation to, conditional fee agreements (“no win, no fee”). These can sometimes involve deferring payment of some, or all, of our fees.
In some circumstances, it is also possible to obtain help with the funding of our services from an investor. We can also advise on ways to protect you or your business from costs that you may have to pay to the other side should the matter proceed to court.
We can offer help and advice regarding (but without limitation to):
- Corporate restructuring
- Distressed acquisitions
- Accelerated sales/M&A
- Insolvency appointment transaction work
- Appointment advice
- Anti-avoidance/asset realisation litigation
- Possession and sale / charging order applications
- Bankruptcy annulments
- Retention of title issues
- Security validation advice
- Rent/business rates liability in administration and liquidation
- Director disqualification proceedings
- Contested statutory demands and petitions
- Injunctions / interim relief
- Company restorations
- General insolvency mediation and negotiation work
Administration Legal Advice
We are able to advise companies, qualifying floating chargeholders, directors, shareholders, creditors and office holders at each and every step and in respect of any difficulty that might be encountered in an administration.
Bankruptcy Legal Advice
We regularly act for creditors, debtors and their families and are able to advise them as to their options both pre- and post-bankruptcy, including dealing with claims brought by their Trustee. We also advise insolvency practitioners who have been appointed Trustees in Bankruptcy and seek to assist them in realising assets for the benefit of the bankruptcy estate.
Marital breakdown and bankruptcy claims
We have also built up expertise in the area of prosecuting or defending antecedent transaction claims brought against spouses of bankrupts following the settlement of matrimonial issues, having successfully acted in the landmark Court of Appeal case of Hill & another v Haines  EWCA Civ 1284.
Liquidation Legal Advice
We assist office holders in performing their roles and realising assets. We also advise directors of companies in liquidation in relation to any claims brought by the Liquidator whether that be misfeasance / breach of duty, preference, transaction at an undervalue, wrongful trading, fraudulent trading, illegal dividends or unlawful director loans.
Company Directors Disqualification Act
We advise directors in relation to disqualification claims made against them by the Secretary of State. Our advice includes the various options available to them, including negotiating favourable disqualification undertakings and obtaining leave to act when disqualified and, if necessary, defending directors at trial.