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This area covers formal insolvency and restructuring for businesses in financial distress, including administrations, liquidations, company voluntary arrangements, and related disputes. A solicitor practising insolvency acts for directors, creditors or debtors, drafting petitions, notices and deeds, negotiating restructurings, and guiding clients through court procedures and interactions with insolvency practitioners. They assess options, manage compliance with statutory deadlines, and advise on directors’ duties and risk of wrongful trading in a rapidly changing financial position.
A solicitor handles the provisions, procedures and interactions that govern insolvency, including administration, liquidation, rescue procedures, and creditor disputes, and coordinates with insolvency practitioners and the court to protect the client’s interests. They work within the framework of the Insolvency Act 1986, the Insolvency Rules, company law, and relevant court practice, ensuring proper documentation, disclosure and procedural compliance.
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