Insolvency Law

Name: Maddox Legal
Price range: $

Our extensive corporate and commercial experience extends into a highly regarded Insolvency and Restructuring Team, who if you are facing financial or regulatory difficulties can immediately support your needs and deliver the best outcome from the difficult situation you may find yourself in. Experienced individuals include Ian Searle, Mark Parkhouse, Nick Davies and Sarah Chambers.

Our insolvency and litigation team work closely to provide a full range of services to directors, insolvency practitioner and other office holders in both corporate and personal insolvency matters.

Our clients range from insolvency practitioners, sole practitioners, accountants, major listed PLCs, multi-national corporates to high net worth individuals and entrepreneurs.
The team have combined experience of over 30 years and so we are confident that whatever issue you as an office holder or a company is currently facing, we will be able to find a solution that aligns with your ultimate goal.

Asset tracing and recovery
Administrations
Antecedent transactions
Bankruptcy
Debt recovery
Injunctions
Liquidation
Moratoriums
Receivership
Restructuring
Statutory Demands
Validation Orders
Voluntary arrangements
Winding up petitions

Our typical work includes the following:

Administrations

"Admins" are a common procedure under UK insolvency law and result where a company is unable to pay its debts. The management of the company is usually replaced by an insolvency practitioner (referred to as an "IP" and often appointed under schedule B1) whose statutory duty is to rescue the company, save the business, or get the best result possible.

Winding Up Petitions

Your creditors can apply to the court to close down your company. They do this by making an application called a 'winding-up petition'. We can assist you in preventing your creditors from making a winding-up petition if you have been given a statutory demand.

Insolvency

A company is insolvent if it has insufficient assets to discharge its debts and liabilities. There are different tests to determine insolvency - our teams can advise you on these once you make contact.

The Corporate Insolvency and Governance Act came into force on 26 June 2020. It introduced new corporate restructuring tools and temporary easements to give distressed businesses time to get advice and seek a rescue.

Company Voluntary Arrangement(s) (CVA)

A CVA is a legally binding agreement with a company's creditors allowing a proportion of its debts to be paid back over time. Typically, 75% of the creditors (by value), who voted are required to support the proposal for it to pass. Once the repayment proposal has been approved then all unsecured creditors are carried along too.