When a company fails, insolvency is usually the final process once all other options have failed. A licenced Insolvency Practitioner will be appointed to wind down the affairs of the company and maximise the returns to those it owes money to.
When a business fails, insolvency is usually the final process that it goes through once all attempts to save it have been exhausted. A licenced Insolvency Practitioner will be appointed to wind down the affairs of the business and maximise the returns to those it owes money.
Sometimes not all possible creditors come forward or are even aware of the insolvency and while many companies fail due to bad luck or a downturn in business, some are shut down due to their negligence and or fraud.
New South Law provides expert consultancy services to a variety of stakeholders in the insolvency process, from creditors to insolvency practitioners. Working closely with our network of insolvency practitioners to ensure that solutions are developed to maximise our client’s realisations.
Our expertise focuses on the handling of the affairs of regulated businesses in the financial services industry and some other sectors. Our investigation and auditing services help to identify what caused companies to enter administration. We then advise the administrator and the creditors / clients of the firm what causes of action are open to them.
We are often instructed in cases of fraud and asset recovery, professional negligence, banking and financial services claims. This will often lead to litigation arising out of breaches of the Insolvency Act 1986 and Companies Act 2006.
We have particular expertise in client creditors for insolvent financial services firms and can provide resources and support to the insolvency practitioner with the actions now expected of them by the FCA following the GC20/5 Consultation Paper.
Our lawyers have proven experience of acting in complex and high-value cases. We are adept at designing pragmatic and commercial strategies that best suit our clients’ needs.
We also work with other professionals such as IT experts, investigators, and forensic accountants in order to obtain the evidence required to design strategies and succeed in court. Some of our work in this field involves cases where there are multiple parties to the claim with a view to maximising the targets against whom recovery can be made.
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