Insolvency for Insolvency Practitioners

At SAS Daniels our insolvency & corporate recovery specialists advise in all aspects of personal and corporate insolvency work ranging from litigation to recovering assets for the benefit of an insolvency estate to advising insolvency practitioners on the preparation of pre-appointment administration documents and the sale of the assets and business of an insolvent company.

We take pride in our ability to provide our insolvency practitioner clients with the practical advice they require, in order to achieve their goals rather than treating an instruction as an ‘academic exercise’.

Recovery of assets

We understand the difficulties that insolvency practitioners can face when considering the merits of spending the time and effort in pursuing recoveries with the success (or otherwise) of such claims determining whether or not there will be any funds available to pay the costs associated with this work (and where possible make dividend payments to clients). We are used to accepting instructions on the basis that the insolvency practitioner client’s ability to pay our costs will be dependent upon the success of the attempts to pursue claims. We take the view that each instruction is a ‘partnership’ between us and our clients and have found this formula to be hugely successful.

Where we or our clients believe that there is a realistic prospect of making a recovery for the insolvency estate, we will adopt a proactive and firm approach to pursuing such claims.

We recognise that it is not always possible to foresee at the commencement of an instruction all of the issues or defences which may be raised in response to our enquiries. We believe that it is in the best interests of our insolvency practitioner clients that we advise them when the pursuit of a potential claim or asset is unlikely to be successful or may not be economic to pursue. We recognise that there is a value to our clients in receiving such advice at the earliest opportunity so that they can ensure that their focus is on pursuing claims which will be successful.

Non-contentious insolvency instructions

We understand the pressures which insolvency practitioner clients can face when advising companies and their directors on insolvency options and the director’s duties to creditors in such circumstances.

We have the capacity and experience to be able to provide our insolvency practitioner clients with the assistance they require in an efficient manner.

About our team

Since joining SAS Daniels in 2013 Paul Formby, who heads the Insolvency & Corporate Recovery team, has developed a loyal and growing client base of insolvency practitioner clients.

Examples of typical instructions include:

Personal insolvency matters

  • Applications for possession and sale of property;
  • Investigating and overturning unlawful asset disposals which took place pre insolvency (antecedent transactions);
  • Annulment applications;
  • Advising on landlord & tenant issues (including the potential for personal liability) arising from the vesting of assets in the insolvent estates;
  • Trading bankruptcies including licences to trade;
  • Applications for a moratorium pending the approval of an IVA proposal;
  • Drafting IVA & PVA proposals.

Corporate insolvency matters

  • Drafting pre appointment documents for administrations;
  • Drafting sale and purchase agreements for the assets and business of insolvent companies;
  • Investigating and overturning antecedent transactions;
  • Applications for a moratorium pending the approval of a CVA proposal;
  • Drafting CVA proposals.

For more information about our insolvency service, please contact us.