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Insolvency Solicitors

When financial difficulties arise, navigating the complex world of insolvency and restructuring requires prompt legal guidance. Setfords’ insolvency lawyers are experts in this area and are able to support businesses of all sizes.

Our team acts for company directors in financial difficulty, secured and unsecured creditors, insolvency practitioners, landlords, and private individuals on all aspects of insolvency and restructuring. We can help you to identify and implement strategic solutions that focus on maximising value for a business or its creditors, and minimising the potential risk of incurring civil, criminal, or personal liability.

Find out more about how our insolvency, restructuring and bankruptcy solicitors can assist you below.

Insolvency Solicitors Specialisms

How exactly can our insolvency lawyers help you? See some of our main specialisms below.

  • Directors’ duties

    Directors’ duties

    Directors of financially distressed companies have particular legal obligations to act in the best interests of the company and its stakeholders. 

    Our insolvency solicitors can provide guidance on directors’ duties during the restructuring process to ensure compliance with rules and regulations.  

  • Pre-insolvency advice

    Pre-insolvency advice

    When facing financial difficulties, seeking pre-insolvency advice from a specialist lawyer is crucial. 

    Our insolvency and restructuring lawyers can assess the financial situation of the company, analyse its viability, and provide guidance on the available options such as debt restructuring, refinancing, asset sales, and other measures.

  • Solvent and insolvent liquidations

    Solvent and insolvent liquidations

    In the case of both solvent and insolvent liquidations, our insolvency lawyers can assist you and your business in various areas. For example:

    • Helping with the orderly distribution of assets
    • Tax considerations and planning
    • Commencing the liquidation
    • Legal compliance
    • Dealing with disputes
    • Director’s responsibilities
  • Contentious insolvency, including shareholder and director disputes

    Contentious insolvency, including shareholder and director disputes

    Contentious insolvency relates to situations where there are disputes or other contentious issues arising from the insolvency process. An insolvency solicitor can help during this process in a number of ways, including:

    • Dispute resolution
    • Fraudulent or wrongful trading
    • Director disqualification 
    • Cross-border insolvency
    • Expert testimony
  • Cross-border insolvency issues

    Cross-border insolvency issues

    When insolvency proceedings span across several jurisdictions, the legal and practical challenges can become even more complex. Our insolvency solicitors can assist with cross-border insolvency issues, for example:

    • Determining which jurisdiction’s laws and courts have authority over the insolvency proceedings
    • Achieving recognition and cooperation between courts and insolvency practitioners in different jurisdictions
    • Identifying, tracing, and recovering assets located in different areas
    • Determining hierarchy and priorities of creditors from different jurisdictions
    • Cross-border disputes
  • Administrations and Company Voluntary Arrangements

    Administrations and Company Voluntary Arrangements

    Our insolvency and restructuring lawyers can assist with administrations and Company Voluntary Arrangements (CVAs) in a number of ways, such as:

    • Appointment of administrators, ensuring compliance with legal requirements 
    • Advice on the preservation and protection of a company’s assets during administration, helping maximise the chances of a successful restructuring or sale
    • Assistance in negotiation with creditors, employes, and others involved in the process
    • Preparing the CVA proposal, which outlines the terms and conditions of the arrangements
    • CVA implementation
  • Other specialisms

    Other specialisms

    Other specialisms include:

    • Statutory demands and winding up petitions
    • Distressed business and assets sales and acquisitions 
    • Creditor representation in restructurings and insolvencies
    • Enforcement of security
    • Contingency planning for lenders and debtors
    • Debt refinancing
    • Insolvency and related litigation including fraud and asset tracing
    • Directors duties and defence of disqualification proceedings
    • Personal bankruptcy

Directors’ duties

Directors of financially distressed companies have particular legal obligations to act in the best interests of the company and its stakeholders. 

Our insolvency solicitors can provide guidance on directors’ duties during the restructuring process to ensure compliance with rules and regulations.  

Pre-insolvency advice

When facing financial difficulties, seeking pre-insolvency advice from a specialist lawyer is crucial. 

Our insolvency and restructuring lawyers can assess the financial situation of the company, analyse its viability, and provide guidance on the available options such as debt restructuring, refinancing, asset sales, and other measures.

Solvent and insolvent liquidations

In the case of both solvent and insolvent liquidations, our insolvency lawyers can assist you and your business in various areas. For example:

  • Helping with the orderly distribution of assets
  • Tax considerations and planning
  • Commencing the liquidation
  • Legal compliance
  • Dealing with disputes
  • Director’s responsibilities

Contentious insolvency, including shareholder and director disputes

Contentious insolvency relates to situations where there are disputes or other contentious issues arising from the insolvency process. An insolvency solicitor can help during this process in a number of ways, including:

  • Dispute resolution
  • Fraudulent or wrongful trading
  • Director disqualification 
  • Cross-border insolvency
  • Expert testimony

Cross-border insolvency issues

When insolvency proceedings span across several jurisdictions, the legal and practical challenges can become even more complex. Our insolvency solicitors can assist with cross-border insolvency issues, for example:

  • Determining which jurisdiction’s laws and courts have authority over the insolvency proceedings
  • Achieving recognition and cooperation between courts and insolvency practitioners in different jurisdictions
  • Identifying, tracing, and recovering assets located in different areas
  • Determining hierarchy and priorities of creditors from different jurisdictions
  • Cross-border disputes

Administrations and Company Voluntary Arrangements

Our insolvency and restructuring lawyers can assist with administrations and Company Voluntary Arrangements (CVAs) in a number of ways, such as:

  • Appointment of administrators, ensuring compliance with legal requirements 
  • Advice on the preservation and protection of a company’s assets during administration, helping maximise the chances of a successful restructuring or sale
  • Assistance in negotiation with creditors, employes, and others involved in the process
  • Preparing the CVA proposal, which outlines the terms and conditions of the arrangements
  • CVA implementation

Other specialisms

Other specialisms include:

  • Statutory demands and winding up petitions
  • Distressed business and assets sales and acquisitions 
  • Creditor representation in restructurings and insolvencies
  • Enforcement of security
  • Contingency planning for lenders and debtors
  • Debt refinancing
  • Insolvency and related litigation including fraud and asset tracing
  • Directors duties and defence of disqualification proceedings
  • Personal bankruptcy

Setfords’ Approach Insolvency & Restructuring Law

Whatever your business may be going through, Setfords’ team of restructuring lawyers are here to help. We pride ourselves on actively listening, thoughtful analysis, and delivering the best possible legal advice to our clients.

What sets us apart from other law firms is that every member of our insolvency and restructuring team is highly experienced, ensuring that you will always receive advice from seasoned professionals rather than underqualified juniors.

Our Insolvency Solicitors

Insolvency & Restructuring FAQs

  • What is insolvency?

    Insolvency is what happens when a business can no longer pay its debts, or its liabilities are greater than the value of the company. A range of factors can contribute to a company becoming insolvent, such as excessive borrowing, economic downturns in the wider economy, and unexpected large payments.

  • What is restructuring?

    Restructuring occurs when a business makes big changes to its structure, typically due to financial difficulties. There are several types of restructuring, including financial, operational, organisational, asset, and legal and regulatory restructuring. Each focuses on a different aspect of the company, and can be undertaken depending on the needs and circumstances of each company.

  • What is the difference between insolvency and bankruptcy?

    Insolvency is a financial state that occurs when a person or business cannot pay the debts they owe, whereas bankruptcy is a legal process that occurs when someone officially declares that they are unable to pay their debts. Bankruptcy can happen when a company becomes insolvent, but not always. Regardless, our insolvency and bankruptcy solicitors are here to help.

  • What are the main objectives of restructuring?

    Companies may undergo restructuring to reach a variety of objectives, including but not limited to:

    • Restoring cash flow and profitability
    • Reducing debt and renegotiating terms with creditors 
    • Maximising the value of assets
    • Ensuring the continuity of business operations
  • What are the legal implications of restructuring?

    There are several legal implications that can arise from restructuring, so it is crucial for businesses to comply with all relevant laws and regulatory requirements. An expert insolvency lawyer will be able to guide you through the entire process and ensure you remain on the right side of the law.

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Speak to a Insolvency and Restructuring Solicitor on 0330 828 5068

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