Insolvency & Restructuring Lawyers in Birmingham

Our insolvency and restructuring services in Birmingham

Businesses who need help

Running a business that has hit financial trouble is isolating, and the decisions in front of you carry real personal risk. Our insolvency and restructuring solicitors for businesses advise directors, partners, sole traders and members on the options that remain open, and give you commercially minded and practical advice on which is worth pursuing.

Administration

Administration places a company under the control of a licensed insolvency practitioner, which halts most creditor action while a rescue or a sale of the business is explored. We advise directors on whether it is a realistic route, how an appointment is made, and what the process will ask of you.

Company liquidation

Company liquidation brings a company to an end and distributes whatever is left to its creditors. We advise on each of the routes into liquidation, whether the decision is yours, your creditors’ or the court’s, and on the duties that continue to apply to you afterwards.

Company voluntary arrangements

A company voluntary arrangement, or CVA, is a formal agreement to repay creditors over an agreed period while the business carries on trading. Our solicitors advise on whether a CVA is viable, how proposals are put to creditors, and what happens if payments are missed.

Partnership voluntary arrangements

A partnership voluntary arrangement does much the same for a partnership, allowing the firm to continue while its debts are repaid on agreed terms. We advise partners on the effect on their personal position as well as on the business.

Individuals who need help

When debts mount up, it is easy to feel overwhelmed, and asking for help is often the hardest part. Our insolvency solicitors for individuals support people facing every kind of money problem, from personal loans and action by HMRC to unpaid invoices and guarantees given for a company loan. The advice is tailored to your needs.

Bankrupt’s spouses and partners

Bankruptcy does not only affect the person made bankrupt. If your husband, wife or partner is facing bankruptcy, our bankruptcy solicitors can advise on the family home, joint accounts, a bankrupt’s duties and restrictions, and applications to annul a bankruptcy order. We will protect your interests wherever possible.

Debt relief orders

A debt relief order, or DRO, is an alternative to bankruptcy for people with relatively low debts, little spare income and few assets. We will tell you honestly whether you are likely to qualify, and explain what a DRO would mean for you.

Directors, shareholders and guarantors

Company difficulties often follow you home, particularly if you have signed a guarantee or drawn on a director’s loan account. We advise directors, shareholders and guarantors on their personal exposure and on the steps that can be taken to limit it.

Individual voluntary arrangements

An individual voluntary arrangement, or IVA, is a formal agreement with your creditors to repay what you can afford over a set period, and is often used to avoid bankruptcy. We advise on whether an IVA suits your circumstances and on the consequences if it fails.

Sole trader and partnership insolvency

Sole traders and partners are personally liable for the debts of the business, which makes early advice especially important. Our solicitors advise on sole trader and partnership insolvency, including how the business debts interact with your personal finances.

Claims against directors

Directors are often the first target once a company stops trading, and claims can arrive months or even years later. We have extensive experience representing directors and provide robust representation where a claim has to be defended.

Breach of duty and misfeasance

Misfeasance is an allegation that a director has mismanaged or misapplied company assets. We defend breach of duty and misfeasance claims brought by liquidators and administrators and advise on the evidence needed to answer them.

HMRC claims against company directors

HMRC can pursue directors personally, including through personal liability notices and joint and several liability notices. We advise on HMRC claims against company directors and on negotiating with HMRC where liability is disputed or a payment arrangement is needed.

Interviews by liquidators, administrators and the Insolvency Service

Being asked to attend an interview or hand over documents is unsettling, and what you say carries weight. We prepare directors for interviews by liquidators, administrators and the Insolvency Service, and can attend with you.

LPA receivership advice

Under the Law of Property Act 1925, a lender can appoint a receiver over mortgaged property without going to court. Our LPA receivership advice covers the validity of an appointment and the duties a receiver owes to you.

Personal guarantee claims

A personal guarantee can put your home and savings at risk long after a business has closed. We defend personal guarantee claims, challenge the way a guarantee was obtained where there are grounds to do so, and negotiate settlements.

Preferences and transactions at an undervalue

Payments and transfers made before an insolvency can be unwound if they favoured one creditor over the others or moved an asset for less than it was worth. We advise on preferences and transactions at an undervalue, acting both for directors and for office holders.

Property issues and LPA receivers

Property brings its own complications in an insolvency, from disputed titles and trusts to a sale pushed through by a receiver. We advise on property issues and LPA receivers and on protecting an interest in a property that is being sold.

Working with an insolvency practitioner

Cooperating with an office holder is a legal duty rather than a choice, and handling it well can reduce the risk of a claim. We advise directors on working with an insolvency practitioner and on the information they are entitled to ask for.

Wrongful trading and fraudulent trading

Continuing to trade once insolvency is unavoidable can expose you to a personal claim, and an allegation of dishonesty carries far heavier consequences. We defend wrongful trading and fraudulent trading claims and advise on the point at which trading should stop.

Lender and creditor services

If you are owed money by a business or an individual in difficulty, the practical questions are how much you will recover and how quickly. We act for lenders and creditors on an ongoing retainer basis and provide bespoke advice on one off matters, including preparing and reviewing security and facility documents.

Commercial debt recovery and asset recovery

We pursue commercial debt recovery and asset recovery proportionately, taking a view early on whether a debt is worth chasing and which enforcement route is likely to work. Where assets have been hidden or moved, we can trace and recover them.

Insolvency services for creditors

Once a debtor enters a formal insolvency process, your influence depends on acting quickly. Our insolvency services for creditors cover proving your debt, voting on proposals, challenging an arrangement and holding an office holder to account.

Insolvency practitioners

We have worked with insolvency practitioners for many years across personal and corporate matters, and we understand the relationship an office holder needs with their legal team. Our specialists are technically excellent and realistic about what is worth pursuing, and we publish a regular technical bulletin for our insolvency practitioner clients.

Disputes and litigation

Disputes are best handled in a way that limits the financial and reputational damage to everyone involved. Our disputes and litigation solicitors use negotiation, mediation and arbitration to resolve matters out of court wherever that is realistic. Where proceedings cannot be avoided, we take a strategic approach to maximise the strength of your position.

Letter before action

A letter before action is the formal warning letter sent before a claim is issued, and a well drafted one often settles a dispute without proceedings. We will make sure yours sets the claim out properly and complies with the pre-action rules.

Letter before action for defendants

If a letter before action has landed on your desk, the deadline is usually short and ignoring it is expensive. We advise defendants responding to a letter before action on the strength of the claim against them and on how best to reply.

Professional negligence

Poor advice from a professional adviser can cause real financial loss, and an insolvency often brings it to light. We bring and defend professional negligence claims against accountants, solicitors, valuers and other advisers.

Shareholder and partnership disputes

Disagreements between shareholders or partners can stall a business at the worst possible moment. We advise on shareholder and partnership disputes, including unfair prejudice petitions, boardroom deadlock, and the terms on which one party leaves.

Cross-border and international

Cross-border matters add layers of procedure, cost and delay. Our team provides knowledgeable and commercially astute advice on cross-border and international insolvency, so that you can navigate competing jurisdictions with confidence. We regularly advise creditors, shareholders, lenders and insolvency practitioners overseas who are dealing with UK insolvencies.

Director disqualification

A disqualification order can bar you from running a company for up to 15 years, so it is worth taking advice without delay. Our director disqualification solicitors advise from the investigation stage onwards, covering disqualification undertakings, compensation orders, applications for permission to act, and contesting proceedings.

IG Construct

Construction insolvencies bring their own difficulties, including retentions, adjudications, collateral warranties and partly completed sites. IG Construct was built to support insolvency practitioners advising on or appointed over insolvent construction companies, and was launched by Monica Kapur following a marked increase in construction related insolvency work.

Local legal resources in Birmingham

Birmingham Civil and Family Justice Centre

Birmingham Civil and Family Justice Centre at the Priory Courts on Bull Street hears bankruptcy petitions, money claims and insolvency applications for the city. It also houses the regional Business and Property Courts, which deal with corporate insolvency, Chancery matters and Circuit Commercial Court work for the whole Midlands region. The public counter operates by prior appointment only, and telephone enquiries are answered Monday to Friday.

Citizens Advice Birmingham

Citizens Advice Birmingham provides free, independent and confidential advice to people living in the city, including a specialist debt helpline. Its advisers can help you look at budgeting and the informal options for dealing with debt, which is a sensible first step if your position has not yet reached the stage of formal insolvency.

How to reach our Birmingham office

Reaching us by car

Brindleyplace sits just off Broad Street in the city centre, within easy reach of the A38 and A456 and close to Junction 6 of the M6 and Junction 3 of the M5. Broad Street itself is a red route, so you cannot stop or park on it. The estate has a multi storey car park operated by Q-Park, with 890 spaces available to visitors.

Reaching us by tram

The Brindleyplace tram stop on Broad Street is on Line 1 of the West Midlands Metro, roughly a four minute ride from the city centre. Trams run between Edgbaston Village and Wolverhampton, calling at Grand Central for Birmingham New Street.

Reaching us by train

Birmingham New Street is about a 20 minute walk, or a short tram ride from the Grand Central stop at the station entrance. Five Ways station, on the Cross City line, is closer and a short walk along Broad Street. Snow Hill is also on the same tram line. You can plan your route with the Transport for West Midlands journey planner.

Reaching us by bus

A number of National Express West Midlands bus routes stop on Broad Street, close to the office. The Brindleyplace estate publishes full directions for visitors, and there is a 24 hour taxi rank on Oozells Street near the Broad Street junction.

Accessibility

If you have any personal accessibility requirements, please get in touch for a confidential discussion with a member of our team, and we will take steps to make your visit as comfortable as possible.

For a step-free entrance, walk around the outside of Costa, in the middle of the square. This route also works for wheelchairs and pushchairs, and lets you enter 3 Brindleyplace without using any steps.

Once inside, you can either take the stairs to reception on the second floor or use the lift. The WCs are at the back of the lift lobby on the second floor, a short walk from reception.

Consult our insolvency and restructuring solicitors in Birmingham

For clear and pragmatic advice on insolvency, bankruptcy and restructuring in Birmingham, across the West Midlands and throughout the UK, please speak to our team without delay on 0800 208 4555. The sooner you make contact, the more options you are likely to have.

You can also reach our London, Norwich and Portsmouth offices or email info@isadoregoldman.com.