Facing corporate insolvency
How we help
When you need sound commercial advice on insolvency related matters – whether contentious or not – you’ll receive down-to-earth, no-nonsense advice from our Business Recovery and Corporate Insolvency Department.
For example, we can help if a creditor, liquidator or Administrator brings a claim against you for paying yourself instead of them. This is called a ‘preference’, and we regularly handle preference claims totalling hundreds of thousands of pounds.
We also help you reach informal arrangements with your creditors.
“I have no hesitation in recommending Jeremy Boyle (Solicitor) at Summit Law LLP. I was a Joint Liquidator of a nightclub business and Jeremy and his team recovered over half a million pounds in damages following a successful application under Section 423 of the Insolvency Act 1986. Would I use him again? Yes definitely”.
If it is found that you knew or ought to have known that your company was going into insolvent liquidation, you can be found personally liable for ‘wrongful trading’, and ordered to contribute to the loss caused to creditors (known as the ‘deficiency to the estate’). We often act for directors facing such claims, up to the value of £1 million or more.
If you are facing a claim because you disposed of an asset for free or for less than its true value (known as a ‘transaction at undervalue’), we will help defend your claim – hopefully, you won’t have to return the asset or pay damages.
Who we help
- Insolvency practitioners
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“I have worked with Jeremy on a number of insolvency cases and for a number of IPs over a period in excess of 10 years and have always found him to be thorough and efficient. He is always a pleasure to work alongside and is an all-round good chap.”
Rob Pearce, Partner, Robert Pearce Associates
“Jeremy is a truly remarkable solicitor. His instructions are always clear and to the point. His grasp of insolvency law and practice, together with his energy and drive, make him a formidable lawyer and one of the best I have worked with. In short, he is the solicitor you want leading your team – you certainly do not want to be against him.”
James Pickering Barrister, Enterprise Chambers