Insolvency

Our dispute resolution team regularly represent insolvency practitioners, companies and individuals.  We also work closely with a number of reputable accountancy firms.

We are regularly instructed to advise on

- asset tracing exercises and recovery;

- administrations;

- administrative receiverships;

- company voluntary arrangements;

- general company liquidation advice;

- individual voluntary arrangements;

- bankruptcy; and

- preferences and transactions at an undervalue

From 1 April 2016, the rules relating to the recoverability of CFA success fees and ATE premiums changed.  Insolvent companies will no longer be able to recover their solicitor’s success fees and insurance premiums from the other side, in the event of success.  Instead, fees will now have to be paid out of damages (if any) that are awarded to a company.

As a firm we are happy to explore and provide flexible and innovative arrangements aimed at enabling clients to manage fees.  Given the recent legislative changes, we are aware of the increasing need for clients to secure suitable ‘Before the Event’ insurance to cover fees and disbursements in the event of litigation.  We have good working relationships with a range of legal insurance providers who offer competitive rates for their services and are happy to discuss a flexible funding strategy.

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