Recovery & Insolvency

Our highly skilled and experienced Dispute Resolution Team deals with all types of insolvency matters at every step of the economic cycle.

In a tough economic climate, you may be struggling to keep your business afloat and the debts start mounting up. This may result in the business not being able to pay its debts as and when they fall due, resulting in the onset of insolvency.

Whether the debts involved are consumer debts, tax liabilities or highly complex cases, we will advise you on the best course of action for you and your business.

We are well equipped to deal with any insolvency issues your business might be facing. We act for insolvency practitioners, directors and individuals, offering service excellence and guiding you through the process.

We advise on the options available to you using formal and informal procedures based on your situation, including:

  • Considering all the different options available to the company when facing the onset of insolvency;
  • The viability of a Company Voluntary Arrangement (“CVA”) with the company and all of its creditors;
  • Placing the company into administration, creating a barrier (moratorium) from creditor, bailiff and landlord actions;
  • Assisting directors who face disqualification proceedings;
  • Assisting and dealing with the restoration of a company;
  • Making recession applications which would treat the company as though it had never been wound up:
  • Advising commercial tenants on their rights if their landlord becomes insolvent;
  • Assisting in the compulsory winding up of a company;
  • If you have been subjected to a winding up petition, we assist in seeking emergency validation orders to allow payments out of the company bank accounts lawfully;
  • Assisting in making section 216 applications for you to allow you to reuse a company name of a previously liquidated company.
  • In some instances bankruptcy may be the only option available to you. We will support you throughout the bankruptcy process to ensure that your affairs are brought to an orderly conclusion.
  • We understand that bankruptcy can be a difficult and stressful. We provide clear, constructive and cost effective advice to help relieve the pressure, providing you with valued support.
  • We will provide you with a clear way forward to declare bankruptcy properly and quickly. However complex or unusual the situation, our Dispute Resolution Team will take care of you during this process and provide you with an excellent service.

If you need bankruptcy advice, please contact the Dispute Resolution Team at drteam@herrington-carmichael.com.

Individual Voluntary Arrangements
  • An individual voluntary arrangement (“IVA”) may be an alternative to you instead of bankruptcy where your debts have become unmanageable. An IVA is a legally binding agreement between you and your unsecured creditors, where your creditors agree to freeze any interest and charges by accepting fixed payments from you. An IVA may be a realistic option for you if you can repay some amounts to your creditors.

  • We will support you in exploring your options if your debts have mounted up with clear, constructive and cost effective advice to help relieve the pressure. We will provide you with the breathing space you need from creditors and relieve the pressure from you, guiding you through the process as quickly as possible.

    Please contact the Dispute Resolution Team at drteam@herrington-carmichael.com for further information if you are struggling to pay your debts and would like to explore your options.

Property Possession

It is extremely important that as a landlord you comply with the legislation on managing your property. If you fail to do so you may find yourself in a dispute with your tenants and even become subject to fines.

As a tenant, it is important you comply with your obligations under your tenancy agreement or your landlord may seek possession of the property.

Examples of possible disputes between landlords and tenants are:

  • Tenants have stopped paying their rent.
  • Tenants are causing a nuisance.
  • Deposit disputes.
  • Dispute with the letting agents

We can assist you in giving practical advice on how to manage your relationship with your landlord or your tenant, prepare the documentation you need and ensure that if court proceedings become necessary they are handled in the cost effective and time efficient manner possible.

Our clients describe us as relentless in achieving the best possible outcome, and you can be assured that we will provide you with service excellence and an innovative approach to your problem. We understand that this can be a stressful time for you, so we will guide you through every step of the way, providing you with unrivalled expertise.

If you would like more information, please contact our highly approachable Dispute Resolution Team at drteam@herrington-carmichael.com.

 Recovery & Insolvency Team

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