Chester 01244 405555

Grosvenor Court
Foregate Street Chester
Cheshire CH1 1HG
DX: 19990 Chester

Shrewsbury 01743 443 043

Lakeside House
Oxon Business Park
Shrewsbury SY3 5HJ
DX: 148563 Shrewsbury 14

Airport City, Manchester 0844 800 8346

Office 129
Manchester Business Park
3000 Aviator Way
Manchester M22 5TG

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Our Offices

Insolvency in the UK

Our team of experienced solicitors assist individuals that are experiencing financial difficulties. We act for individuals with financial difficulties, insolvency practitioners, and creditors. We also advise people and businesses based overseas who are owed money by someone who has assets in England and Wales how to get paid and enforce their rights against the assets here.

When a company or individual is in financial trouble and if they have assets or operations in different jurisdictions, advice will be required as to how the assets in each of those jurisdictions will be dealt with. Our expertise in English and Welsh insolvency law allows us to advise in relation to how insolvency of individuals resident overseas r companies based overseas but with UK operations impacts their assets here and our extensive network of connections with lawyers in other jurisdictions enables us to work as a team with the right lawyers in other jurisdictions in relation to UK insolvencies where there are assets overseas.

Our philosophy when advising companies or individuals in financial trouble is to try and avoid formal insolvency when possible; but where it is not, we will help plan an effective strategy for dealing with your problems.  We have built up a wealth of experience over many years dealing with insolvency matters and appreciate that advice is often required quickly and always cost effectively.

Business Insolvency:

Insolvency of overseas companies.

We provide advice to insolvency practitioners regarding how an overseas insolvency will impact the company’s operations and assets in England or Wales. We are also able to assist in seeking to secure assets in the UK for the benefit of creditors; pursuing any directors based in this jurisdiction in relation to any breach of their duties; assisting overseas directors based in the UK with claims made against them in this jurisdiction but relating to overseas insolvency proceedings.

In addition we advise overseas nationals who may be directors of UK companies on claims made by UK insolvency practitioners.

Insolvency of UK Companies.

We work as part of a team with overseas lawyers and insolvency practitioners where UK companies with operations or assets overseas become insolvent.

We can advise as to the consequences of different types of insolvency procedure. Our work in this area also includes advising overseas businesses how to seek to secure sums they are owed or will become owed; how English insolvency law will view such transactions and, if a UK company becomes insolvent and an overseas company is owed money, how to pursue their claims including issuing winding up petitions or seeking the appointment of administrators.

In addition we advise overseas nationals who may be directors of UK companies on claims made by UK insolvency practitioners.

Personal Insolvency:

If you live overseas or the person who owes you money lives overseas but there are assets in England and Wales.

If you live overseas but have assets in England and Wales we can discuss how English law will impact any insolvency procedure in a different jurisdiction in terms of your assets here, including how you might seek to protect those assets. Equally we can advise Insolvency Practitioners handling overseas bankruptcies on the impact of the bankruptcy on assets here and in relation to the enforcement of any judgments obtained from overseas Courts against assets in England and Wales.

We can use our range of overseas contacts to put you in touch with lawyers in the right jurisdiction to deal with your affairs and work with them to ensure the best outcome. We regularly advise in relation to issues of Centre of Main Interest to determine which Courts have jurisdiction.

If you live in England or Wales or the person who owes you money lives in England or Wales.

If you live here then any insolvency procedures will be under English law and handled by the English Courts. This will be the case even if you have assets abroad.

We advise individuals experiencing financial difficulties on the different procedures available and their consequences, including in relation to European legislation relating to Centre of Main Interest.

We also advise those who are owed money by individuals living in England and Wales as to how they can seek to recover their debts (including issuing demands for the debt and potentially bankruptcy petitions) and what the consequences for them of the insolvency of the individual would be.

Work Examples include:

  • Advising a UK insolvency practitioner in relation to the potential bankruptcy of a German national resident in the UK whose debts were in Germany.
Nick-Clarke Nick Clarke

Partner & Head of Dispute Resolution & Insolvency
Email: [email protected]
Tel: 01244 405558

 

 

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