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In matters where creditors are owed a significant sum and the debt is not disputed, a swifter and more cost effective route may be insolvency proceedings.
Our talented debt recovery team has extensive experience in using insolvency as part of the debt recovery process, and can assist in the following ways.
Personal insolvency
- Issue statutory demands and arrange for personal service
- Prepare bankruptcy petitions for presentation at the High and County Courts
- Arrange for representation at the hearing
- Negotiate a settlement if necessary
Corporate insolvency
- Issue pre-winder letters/statutory demands as appropriate
- Prepare winding up petitions for presentation at the High and County Courts for a compulsory winding up order
- Arranging for personal service of the petition, advertisement and representation at the hearing
- Liaising with the Official Receiver or Insolvency Practitioner to maximise recoveries
It is important to note that insolvency proceedings are for the benefit of all creditors and further that the Crown is a preferential creditor.
If you would like to discuss how insolvency may be the right route for you or your business please contact our debt recovery team, who will be happy to answer any questions you may have.
