The technical definition of insolvency means the inability to pay one’s debts as and when they fall due. For individuals, this could well lead to bankruptcy and for companies a winding up and/or eventual dissolution of the company.
Our experience in this area of the law relates to the following:
- Personal Insolvency (bankruptcy).
- Statutory demand
- Petitions in bankruptcy
- Corporate insolvency (winding up)
- Members voluntary liquidation
- Creditors voluntary liquidation
- Compulsory liquidation
As the economy is now in a recession, we are able also to advise on the consequences of actions taken by creditors, be they individuals or institutions, relating to:
- Distressed debt
- Personal guarantees
- Claims made by trustees in bankruptcy or liquidators in respect of payments received by or from bankrupt individuals and companies in liquidation.