Insights

Misusing the scheme and its funds can lead to a range of penalties, including fines, disqualification, imprisonment, and bankruptcy, often with legal action being taken against directors.

A statutory moratorium is a legal protection for companies entering into administration.

The case of Kelsall and another v Stajic and another not only dismissed the respondent’s strike-out application but also clarified that claims for dishonest assistance can indeed fall within the ambit of s.212.

As businesses face insolvency, the disposal of assets in distressed sales can often become a reality. In the current economic climate, we have seen a noticeable increase in the number of distressed sales and have acted for many purchasers who have been burnt in the process.

In this article, we consider the recent case of Secretary of State for Business and Trade v Barnsby in which a compensation order was made against the sole director of Pure Zanzibar Limited, Mr Barnsby.  

Broadly speaking, if Crypto can be traced and secured, then it can be recovered on behalf of the creditors of an insolvent estate. However, this is easier said than done…

We are regularly asked to advise on the implications for directors of an insolvent company wishing to act as a director of other companies with the same or similar names.

It will come as no surprise that there is a direct correlation between mental health disorders such as depression and anxiety and bankruptcy.

A solvent liquidation can be used as a tax-efficient way for shareholders of successful businesses to extract capital as part of a wider exit strategy.

Bounce back loan fraud, director disqualification and account freezing orders.

Lauren Hartigan-Pritchard, Legal Director and Head of Restructuring & Insolvency at Higgs LLP, spotlights a significant case involving a misfeasance claim brought against the directors of a liquidated company.

It is a legally binding agreement between a company and its creditors for the company to pay off its debts and liabilities