There are a range of serious legal and financial consequences when a person becomes bankrupt or a company is put into receivership, voluntary administration or liquidation.
Those consequences should be advised upon and assessed by anyone wishing to take formal steps to become bankrupt or by any company director who thinks that their company might be insolvent.
The seriousness of those consequences also mean that prompt action should be taken if a creditor has commenced proceedings to make you bankrupt or wind up a company that you have a financial interest in or control.
If you are a creditor considering bankruptcy proceedings or a winding up application as a last resort then it is vital that all formal and practical legal requirements are adhered to appropriately.
At Pearce Webster Dugdales we provide advice in a wide range of personal bankruptcy and corporate insolvency situations to those who are experiencing or might soon experience such a situation.
Please feel free to contact one of our experienced litigation lawyers to discuss how a personal bankruptcy or corporate insolvency might have an impact on you as a creditor, or how a bankruptcy or winding up proceeding might be defended or resolved.