This area covers the way a company in financial difficulty is handled in England, including formal insolvency processes and rescue options. A solicitor in this field guides directors, creditors and shareholders through options such as administration, restructuring, Company Voluntary Arrangements and liquidation, and helps prepare and lodge the necessary applications and documents with bodies like the Court and the Insolvency Service. They may draft and negotiate a restructuring plan, liaise with administrators, liquidators and creditors, compile schedules of assets and liabilities, and ensure the process complies with statutory duties and timelines.
What a solicitor handles in these matters
The solicitor handles the provisions, procedures and interactions at the heart of corporate distress: drafting insolvency petitions and statements, advising on rescue mechanisms, negotiating with creditors, coordinating with administrators or liquidators, and managing the interplay with company directors and shareholders. They work with statutes such as the Insolvency Act 1986, the Enterprise Act 2002 and related rules, and interact with the Official Receiver, the courts, and potential pre-pack arrangements. Their involvement is often critical where a rapid, legally compliant exit or restructuring is required.
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