Leathes Prior

Make a payment | info@leathesprior.co.uk | 01603 610911

Make a payment | info@leathesprior.co.uk | 01603 610911

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  1. Home
  2. Insolvency & Business Recovery

Insolvency & Business Recovery

Leathes Prior is well known for its niche insolvency practice and is one of only a handful of law firms in the East of England that has lawyers dedicating all of their time to insolvency law and practice. The team offers specialist advice on insolvency and recovery for both businesses and individuals.

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contact

E: mbarlow@leathesprior.co.uk

T: 01603 610911

our team

Mike Barlow

Mike Barlow

Partner

Paul Warman

Paul Warman

Partner

Richard Guthrie

Richard Guthrie

Partner

Alex Saunders

Alex Saunders

Senior Associate

Ina Beurich

Ina Beurich

Associate

Chris Goodwin

Chris Goodwin

Solicitor

Recent News

  • Extension of majority of measures to protect struggling businesses - update to Corporate Insolvency and Governance Act 2020
  • New insolvency legislation to protect struggling businesses now in force Corporate Insolvency and Governance Act 2020
  • New insolvency legislation to protect struggling businesses announced (Corporate Insolvency and Governance Act 2020) - Relief for debtors, worrying times for creditors?
  • Lessons to learn from Debenhams’ CVA
  • Company Directors beware: salary or dividends – the pitfalls

our team

  • Mike Barlow Partner
  • Paul Warman Partner
  • Richard Guthrie Partner
  • Alex Saunders Senior Associate
  • Ina Beurich Associate
  • Chris Goodwin Solicitor

contact

E: mbarlow@leathesprior.co.uk

T: 01603 610911

Recent News

  • Extension of majority of measures to protect struggling businesses - update to Corporate Insolvency and Governance Act 2020
  • New insolvency legislation to protect struggling businesses now in force Corporate Insolvency and Governance Act 2020
  • New insolvency legislation to protect struggling businesses announced (Corporate Insolvency and Governance Act 2020) - Relief for debtors, worrying times for creditors?
  • Lessons to learn from Debenhams’ CVA
  • Company Directors beware: salary or dividends – the pitfalls

Our Insolvency solicitors provide specialist assistance with corporate recovery and turnaround procedures including Company and Partnership Voluntary Arrangements, Voluntary and Compulsory Liquidations and Administrations, advising both office holders and directors. Our expertise also covers director’s disqualification proceedings and defended misfeasance and wrongful trading actions against directors.

Advice to Companies

Whether the company is being pursued by one or more creditors who have served a statutory demand, presented a winding up petition or where there is general creditor pressure, we can advise the company and directors on various formal and informal procedures to alleviate creditor pressure including:

  • Informal arrangements with creditors
  • Company Voluntary Arrangements
  • Administrations
  • Receiverships
  • Voluntary and Compulsory liquidation and Compulsory liquidation

Advice to Directors

Whilst nearly all companies have the benefit of limited liability, the protection for directors and shareholders is often compromised by the giving of personal guarantees and/or granting of security over personal assets to banks, finance companies and sometimes key suppliers. We can assist directors by advising on their potential liability and, as appropriate, by negotiating with the creditor concerned, which may lead to a substantial reduction in the director’s liability. Alternatively we can advise the director on the personal insolvency procedures available to him. If a company is placed into liquidation, the Liquidator is obliged by law to investigate the conduct of the director whilst he was managing the company’s business and if it is found that the director’s conduct falls below what is reasonably expected of him, he may find himself subject to:

  • Director’s Disqualification Orders and Undertakings where the director may be prevented from acting as a director of a company in the future
  • Wrongful trading where the director may be held liable to pay some, or all, of the debts of the company
  • Fraudulent trading where the director may be held liable to pay some, or all of the debts of the company and may face imprisonment for up to seven years
  • Misfeasance where the director has breached his fiduciary duties to the company.
  • Preference transactions where creditors of the company (including the director) have been preferred by the company to the detriment of other creditors
  • Transactions at undervalue where assets of the company have been purchased from the company by the director or his family in the period of two years prior to liquidation

Directors should therefore seek advice as soon as possible to minimise their potential liability.

Advice to Office Holders

Leathes Prior advises many Licensed Insolvency Practitioners, both locally and nationally, who accept appointments as Liquidator, Trustee in Bankruptcy, Supervisor, Administrator or Receiver. The team advises on all aspects and legal problems faced by Insolvency Practitioner. At Leathes Prior we recognise that Office Holders may not be in funds to finance litigation and therefore we are prepared to act on formal or informal conditional fee agreements, with or without the benefit of after-the-event insurance protection.

Personal Insolvency

The team advises on all aspects of personal insolvency including Bankruptcy and Individual Voluntary Arrangements, acting for Trustees in Bankruptcy, Supervisors and individuals with financial difficulties. The team specialises in:

  • Advice to debtors
  • Advice to trustees in bankruptcy
  • Advice to bankrupts
  • Bankruptcy offences
  • Matrimonial home
  • Bankruptcy annulment and termination of bankruptcy
  • Debt Relief Orders
  • Debt management plans and other informal alternatives of debt relief

The team’s expertise was recently recognised at the ‘Finance Monthly Awards 2015’ as Leathes Prior Solicitors won the ‘Personal Insolvency Firm of the year’ award.

Client feedback
The practice can only be described as first-class.
Legal 500
At Leathes Prior, the service is excellent in all respects, representing many of the region’s largest insolvency practices.
Chambers & Partners
Working with this team, you get good, original advice.
Chambers & Partners
The Insolvency Team is recognised for its technical strength and full-service offering to insolvency practitioners, with complementary expertise in areas such as employment and property law. The team provides practical ideas as well as technical solutions. Working with this team, you get good, original advice.
Legal 500
Leathes Prior rivals much larger firms and provides knowledgeable and commercial advice.
Legal 500
Acknowledged experts in their niche, Leathes Prior is one of the few firms in the area that has shown a real commitment to this field.
Chambers & Partners
The team provides practical ideas as well as technical solutions.
Legal 500
An excellent and prompt service.
Legal 500
The team at Leathes Prior has good strength and is practical, technical, and calm in a crisis.
Client feedback
The service is excellent, with staff regularly going above and beyond what is expected of them.
Chambers & Partners
An extremely commercial firm and always willing to provide practical solutions when they can.
Legal 500
An extremely competent and supportive team.
Legal 500
Leathes Prior has a niche practice that specialises in bankruptcy annulments, in which it acts not only for clients in East Anglia, but also across the UK. The firm pools its expertise in employment, regulatory and property law to advise local IPs and individuals on corporate and personal insolvency.
Legal 500
Solicitor Ina Beurich leads the team and provides excellent service. She is supported by head of litigation Mike Barlow, whose broad practice includes commercial disputes involving insolvency issues.

Authorised and regulated by the Solicitors Regulation Authority (Regulation No: 00053782)

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  • Litigation & Dispute Resolution
  • Motoring Offences
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  • Personal Injury & Clinical Negligence
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  • Wills
  • Wills & Probate disputes
  • Wills, Trusts & Probate


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© Leathes Prior Solicitors 2021

 

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74 The Close
Norwich, Norfolk
NR1 4DR

 

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Fax: 01603 610088
Email: info@leathesprior.co.uk