Insolvency Support

The Practice supports Insolvency Practitioners in the entire course of their work right from pre-formal appointment to collection and the realisation of creditors funds.

Based upon our expert interrogation of the records, we compile a Contract Report which is used by the Insolvency Practitioner:

• For preperation of a Statement of Affairs.

• Estimating realisations in relation to the funds at risk in terms of debtors, retentions, works in progress etc.

We may also be engaged in relation to the corporate debt recovery aspect from which the creditors derive a benefit.

We are always conscious that much of the unrealised funds at risk, as advised by the officers of the insolvent company, can be overstated and if it appears that there is little prospect of successful settlement, it is imperative that this view is reached quickly and the advice conveyed to the appointed Insolvency Practitioners.

Our support to Insolvency Practitioners involves assessing the funds at risk in relation to:

• Debtors

• Work in progress

• Retentions

• Form of Contract

• Contract terms

• Time

• Entitlement to Loss and Expense

• Damages

• Disputes

• Technical matters

• Settlement of accounts

Insolvency Support is a specialist skill of which the engagement requires highly qualified professionals with a thorough understanding of contract forms such as JCT & NEC. Critical to the success of the case is how these are impacted by insolvency proceedings in order to protect the funds at risk and maximise the overall recovery. We identify the risks and appropriate strategies for mitigating that risk.