You may find yourself in the challenging and uncertain position of being a director of a company experiencing financial difficulties. You are likely to be concerned about the future of the business, the staff, customers, creditors, and your own personal position.
The Restructuring and Insolvency team can help you:
- Identify and consider options for dealing with the company and its business. That may involve restructuring or a formal insolvency procedure (such as administration, liquidation or company voluntary arrangement).
- Deal with pressure from creditors.
- Understand your role as a director in these circumstances, in particular your duties to the company and its creditors.
- Defend claims which may be brought against you personally by an insolvency practitioner appointed to formal office in respect of the company (such as an administrator or liquidator) in connection with your conduct as a director.
- Make arrangements to carry on the business in a new company. That is likely to involve purchasing the business and assets from the insolvent company and ensuring compliance with statutory procedures permitting the continued use of the registered or trading name of the insolvent company.
If you would like further information please contact us on 023 8033 4661 or fill in the enquiry form.