Insolvency

Insolvency of companies or individuals is at times inevitable. At that stage, creditors who are left without significant payment have many questions.

These can be about the conduct of the former directors of an insolvency company.

The question may be about whether those appointed as Administrators or Liquidators of a company have been correctly appointed in the interest of the creditors and not the former directors to help close a company down.

At Tenet, In 2017, we advised clients in the Court of Appeal leading to successfully overturning the appointment of Administrators of a company.

We have been engaged by other clients to advise on challenging the appointment of Administrators or the decision of individuals to enter into bankruptcy to hide assets and evade creditors.

Case Studies

Insolvency

The one where the failure to check the articles of association leading to an invalid Administration.

Client Type - individual

View case study

Advice was provided to creditors of a debtor company that was placed into Administration.  It was alleged it was placed into Administration to avoid the debt being paid.  Advice was provided in relation to challenging the administrators assisting the debtor company.  In this particular case, two issues were raised by the clients.  Firstly relating to […]

Our experience of predominantly advising claimants in fraud cases has enabled us to advise on challenging the conduct of parties seeking to use the insolvency process to hide assets and remove themselves from potential liability.

Our expertise is also called upon to aid recovery from former directors of insolvency companies who have breached insolvency legislation, for example, making preferential payments to themselves as opposed to creditors, trading fraudulently or undertaking transactions at an undervalue or to defraud creditors. 

On occasion, we have identified legal action that can be taken directly against the directors of companies (for example fraudulent misrepresentation claims) outside of the scope of an insolvency process to help clients gain some recovery.

If you are a creditor affected by insolvency and consider there has been dishonest actions leading to your loss, we have the experienceto assist.

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