This work covers how companies and individuals deal with insolvency, including rescue solutions and formal insolvency procedures. A solicitor in this area advises on administrations, liquidations, Company Voluntary Arrangements (CVAs), creditor negotiations, and related court applications, often coordinating with insolvency practitioners and the Official Receiver. They assess options, prepare and file documents, negotiate with creditors, and protect the client’s interests in proceedings that determine who pays whom and how assets are realised.
What a solicitor handles in these matters
The solicitor handles complex procedures, including meeting statutory duties, drafting and negotiating trust deeds, and navigating schedules underpinning CVAs and administrations. They coordinate with licensed insolvency practitioners, apply to court for relief or orders, and manage interactions with creditors, directors, and shareholders to protect or liquidate assets in accordance with statute and case law.
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