If you or your company are facing personal or business financial difficulties, obtaining clear, timely and expert legal advice is critical. At South Bank Legal, our insolvency solicitors support individuals, company directors and creditors across England and Wales. Although we are based in London, we act nationwide and are known for our practical, commercially focused approach to insolvency matters.
Our highly experienced team works closely with insolvency practitioners, accountants and trustees to deliver solutions that protect your interests and minimise risk. Whether you are an individual struggling with bankruptcy debts or a director of an company in financial difficulty, we provide strategic guidance from your initial consultation through to resolution.
What is Insolvency?
Insolvency arises when a person or company can no longer pay its debts as and when they fall due, or where liabilities exceed assets. Insolvency can affect both individuals and companies and often leads to serious legal consequences if not addressed early on.
With the right legal advice, insolvency does not always mean the end. Our insolvency solicitors help clients explore all available options, including restructuring agreements, voluntary arrangements and formal insolvency procedures, while ensuring full compliance with insolvency law.
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Personal Insolvency Advice
If you are an individual facing overwhelming debt, our solicitors provide clear, supportive advice tailored to your circumstances.
Bankruptcy
A bankruptcy order is the culmination of a formal court process that can be initiated by a creditor or by the individual through a bankruptcy petition. Once made, a trustee is appointed, and trustees in bankruptcy take control of assets to distribute to creditors.
We advise on:
- The impact of bankruptcy on assets and income
- Treatment of bankruptcy debts
- Your duties and obligations following a bankruptcy order
- Using a bankruptcy petition where you are the creditor
- Challenging or responding to a bankruptcy petition
Individual Voluntary Arrangement (IVA)
An individual voluntary arrangement allows individuals to repay debts over an agreed period, usually five years, without entering bankruptcy. We advise on the suitability of an IVA and work alongside the appointed insolvency practitioner to protect your position.
Corporate Insolvency & Advising Directors
Directors of an insolvent company face heightened legal duties. Acting too late or taking incorrect steps can result in personal liability.
Our insolvency solicitors have extensive experience advising directors and companies on:
- Administration and business rescue
- Company voluntary arrangements
- Creditors’ voluntary liquidation
- Compulsory liquidation following a winding up petition
- Disputing a winding up petition
We provide urgent advice when insolvency is anticipated, helping directors reduce exposure to claims and protect their professional future.
Wrongful Trading, Fraudulent Trading & Director Disqualification
Directors may be personally pursued by liquidators or insolvency practitioners for alleged misconduct.
We act in cases involving:
- Wrongful trading – continuing to trade when insolvency was unavoidable
- Fraudulent trading – deliberately incurring debts with no intention to repay
- Claims seeking compensation or contribution orders
- Director disqualification proceedings
Our team of expert insolvency solicitors defends directors robustly while also advising on early risk management to avoid claims arising in the first place.
Insolvency Disputes & Litigation
Insolvency frequently gives rise to disputes between directors, creditors, shareholders and insolvency practitioners. We represent clients in complex insolvency litigation, including:
- Challenging statutory demands
- Disputes with insolvency practitioners
- Transactions at an undervalue
- Unlawful dividends
- Preferences and recovery actions
- Claims involving asset tracing and misfeasance
For creditors, we also act in debt recovery through insolvency routes, including statutory demands, winding up petitions and bankruptcy proceedings.
Working with Insolvency Practitioners
Insolvency solicitors and insolvency practitioners perform different but complementary roles. We regularly work alongside insolvency practitioners to ensure the legal framework supports the commercial objectives of the appointment.
Where needed, we challenge decisions, apply to court for directions and advise on compliance to reduce risk and delay.
Why Choose South Bank Legal?
Clients choose South Bank Legal because we offer:
- A highly experienced insolvency team
- Clear, practical advice from the outset
- Strategic support for individuals and directors
- Nationwide representation from a London base
- A strong track record in insolvency disputes
Our focus is on delivering solutions, not unnecessary complexity.
Speak to an Insolvency Solicitor Today
If you are experiencing financial pressure or are concerned about insolvency risks, early advice is essential. Our insolvency solicitors are available for a confidential initial consultation to assess your position and explain your options.
To speak with a member of our team, complete our enquiry form or contact us directly. Taking action early can significantly improve outcomes for individuals, directors and businesses alike.
Frequently Asked Questions About Insolvency
When should I speak to an insolvency solicitor?
You should seek advice as soon as you anticipate cash-flow problems, missed payments, or pressure from creditors. Early advice can help prevent matters escalating to formal insolvency, court proceedings, or personal liability for directors.
What is the difference between an insolvency solicitor and an insolvency practitioner?
An insolvency solicitor provides legal advice, court representation and dispute resolution. An insolvency practitioner is licensed to formally administer insolvency procedures such as liquidation, administration or voluntary arrangements. The two often work together but perform distinct roles.
Is my situation confidential?
Yes. Initial discussions and consultations are confidential. Insolvency solicitors handle matters discreetly and professionally, ensuring sensitive financial and commercial information is protected wherever possible.
