Directors of companies in financial difficulties face a number of issues and should always seek expert advice at the earliest opportunity. As well as having obligations to act in the best interest of the company, they must also act in the best interests of the creditors too. A director who acts in breach of their duties may expose themselves to personal liability or commit a criminal offence.
At Buckles Solicitors we are experienced in advising directors in this complex area before, during and after a company have entered formal insolvency proceedings.
Our dedicated Insolvency and Corporate Recovery Group advises businesses on all aspects of business recovery, corporate restructuring and insolvency. We specialise in providing advice on company rescues, management buy-outs, schemes of arrangement, administrations (including pre-pack administrations), company voluntary arrangements, compulsory liquidation and creditors' voluntary liquidation.
The group draws on lawyers based in our corporate, employment, property and dispute resolution departments to ensure that clients are provided with comprehensive advice on all aspects of their business. Aside from this, we can also advise on:
- Wrongful trading
- Fraudulent trading
- Breaches of fiduciary duties to the company (misfeasance)
- Reviewable transactions, including:
- Preference transactions
- Transactions at an undervalue
- Transactions defrauding creditors
- Liabilities under personal guarantees
- Directors' disqualification proceedings
- The role and liability of non-executive and shadow directors
- Retention of Title and creditor claims
If you would like to speak to us about any problems you might be facing, please contact our dedicated Insolvency and Corporate Recovery Group on 01733 888888.
Alternatively you can request a call back.