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Insolvency disputes

The insolvency of any business or individual leaves a number of stakeholders, creditors and other parties with competing interests and issues. At Thrings we are highly experienced in resolving the disputes that can arise in what are sometimes vastly complicated situations, acting with rigour and pragmatism to find the best outcome for you.

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Resolving complexity

Our dynamic team gets to the heart of an insolvency dispute quickly to untangle the complex issues involved.

Because we have worked with all sides in insolvency disputes – including businesses, Insolvency Practitioners, lenders, companies, directors, shareholders, bankrupts (their families) and creditors – we can see the bigger picture and possible solutions to seemingly intractable problems.

We invest time building a relationship with you to ensure we understand what you want to achieve. Providing more than legal advice, we offer sound commercial sense and a realistic appraisal that can help you achieve a satisfactory resolution. Our bespoke, strategic approach ensures you receive intelligent guidance that is pragmatic, legally sound and appropriate for the circumstances, making clear to you the risks and benefits at each stage of your dispute.

Highlights

Our Insolvency Disputes Team has been involved in a number of high-profile claims and cases. Highlights include:

On behalf of insolvency practitioners:

  • advising the administrators appointed to a national retail chain in connection with retention of title claims and disputes with other suppliers
  • securing returns to creditors after advancing claims against Directors upon breach of duty to recover unlawful dividends, preferences (payments of) and transactions at an undervalue
  • securing returns to creditors in advancing claims by administrators against banks for IRHP mis-selling
  • advising a trustee in bankruptcy on the adjudication of disputed debts
  • advising insolvency practitioners on the validity of their appointment and disputes concerning that validity
  • successfully advancing claims on behalf of a trustee in bankruptcy for possession and sale of the bankrupt’s property

On behalf of directors/debtors:

  • advising directors in the successful defence of claims of wrongful trading and breach of duty brought by liquidators for £42m
  • successfully defending claims by a liquidator for ‘preferences’ and ‘transactions at an undervalue’
  • successfully defending allegations of misconduct and claims for Company Director Disqualification Orders and Bankruptcy Restriction Orders
  • annulling bankruptcy
  • successfully defending proceedings for possession and sale of the bankrupt’s/family home
  • successfully mitigating calls on guarantors on behalf of other stakeholders
  • successfully advancing multiple claims (involving fraud and forgery) against a company, its debtors, directors and shareholders under guarantees
  • successfully advancing civil claims for bribery, conspiracy to defraud, directors malfeasance and account of profits for a US parent of a UK trading company against its former director and competitors, including subsequent enforcement proceedings
  • successfully recovering possession of premises let to businesses entering administration or liquidation
  • successfully advancing creditors’ claims for retention of title in the context of proposed creditors’ voluntary arrangements by their customer

Mark Cullingford is described by one source as ‘very strong technically and responsive to client needs’.

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