Now is not the time to ignore a problem in the hope that it will disappear of its own accord. With the considerable change and uncertainty of the last few months, many businesses are already seeing potential problems beginning to emerge. If you talk to us early on and involve us in taking a strategic view of your potential liabilities, we can help you avoid litigation. It is important that all businesses review their liabilities and take action quickly to limit any potential damage. We would recommend that you start with managing cashflow. In particular:
- Identifying creditors and negotiating time to pay agreements where required. Court and winding up proceedings can often be avoided by making contact with creditors
- Reviewing your debt book and focusing time and money on chasing debtors who should be able to pay.
Our team can help you to take a strategic look at potential problems now before the furlough scheme and other government funded initiatives come to an end to make sure that your business is protected. Alexander Neale and Mairead McErlean lead in this area and have many years’ experience of helping our clients resolve disputes and recover assets. They have a reputation for finding a solution quickly and negotiating a way out which limits any negative impact on you or your business or your reputations.
Alexander is well known within the restructuring world for having a particular expertise in office holder claims and recovery actions, many of which have complex international aspects or were reported. Alexander has built up his reputation as a conscientious, driven and detailed insolvency lawyer amongst insolvency practitioners, directors, funders, debtors and creditors. He has advised on a vast range of cases from general restructuring options to more complex recovery actions under misfeasance, wrongful trading and antecedent transactions.
Mairead has 15+ years’ experience of dealing with commercial and insolvency disputes. In addition, Mairead’s property dispute knowledge brings added value in insolvencies which involve property assets, including in obtaining possession of those assets, negotiating with landlords and tenants and advising LPA and fixed charge receivers.
Our 20 strong team also encompasses DebtFast, a dedicated debt recovery team for book debts and a private wealth disputes’ specialist.
Along with the Debenhams Ottaway corporate, employment and property teams, the insolvency and restructuring team is well placed to act on all forms of contentious and non-contentious insolvency matters in the testing months to come.
The contents of this article are intended for general information purposes only and shall not be deemed to be, or constitute legal advice. We cannot accept responsibility for any loss as a result of acts or omissions taken in respect of this article.