The past few years have produced turbulent trading conditions for many businesses, whether your business itself has had difficulty or been impacted by its creditors having difficulty and failing to make payment of monies owed to your business.
The unfortunate consequence of economic difficulties is a growth in the number of companies considering or being placed into administration (and then liquidation).
Depending on the cause of liquidation or administration, the assets and liabilities of the company, the intention of the directors or the insolvency practitioners, it may be there are a number of creditors seeking payment of sums owed.
At EHL Commercial Law, we work alongside the former directors or appointed insolvency practitioners to take active steps in determining and then pursuing the recovery of sums owed and more importantly, take all the necessary steps to protect the interests of the creditors going forward.
Although it is not strictly a means for recovering an outstanding liability, insolvency legislation may offer an alternative recovery route to that offered by the Court. We can guide you through the legislation so you can make the right decisions on how to proceed after careful consideration of all options.
Our experts are well placed to provide clear, helpful and bespoke advice based on your circumstances to both struggling businesses looking to examine their options and independent creditors looking to protect their position.