INSOLVENCY

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.

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 iInsolvency Ppractitioners to ensure that solutions are developed to maximise our client’s realisations. 

 

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. 

 

How we help

 

Provide Insolvency Practitioners with resources and expertise to manage:

  • On-going FCA compliance, advice, and support.

  • Audit and investigation to identify FCA compliance by the directors.

  • Manage creditor communications.

  • Advise creditors on grounds for recovery.

  • Act for creditors seeking damages from third parties.

 

Our audits will include detailed analysis of

  • Company, client, and financial records.

  • Regulatory and complaint history.

  • Matters leading to insolvency.

  • Number of clients / creditors affected.

  • Valuation of claims

  • Potential third-party defendants

  • Regulatory misfeasance

  • Phoenixing

  • Advice of causes of action

 

Our work will help to reduce risk and cost to the estate.  Our expertise helps Help Insolvency Ppractitioners meet their regulatory obligations and assist in generating additional recoveries for the estate.

 

In many cases we can act on a contingent basis and work closely with litigation funders who may be interested in buying claims. 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.

CONTACT US

 

If there is a matter you would like to discuss with us, fill out the form below and one of our team will be in touch.

Address

New South Law

Suite 3a

Anchor Springs

Littlehampton

West Sussex

BN17 6BP

NSL is the trading name of New South Law Limited. Authorised and regulated by the Solicitors Regulation Authority (SRA) ID: 645781. New South Law Limited is a limited liability company, registered in England and Wales under company registered no: 10725076

© 2018 site by New South Law Ltd.

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