Bankruptcy and Liquidation
We provide advice to IPs in relation to the realisation of assets, which range from properties to supercars and helicopters, in bankruptcy and liquidation situations.
In bankruptcy the most significant asset is usually the bankrupt’s property. We act on behalf of IPs in negotiating a purchase of their interest, as Trustee in Bankruptcy, with bankrupts or any other interested party. If negotiations break down, then we can prepare an application for an order for possession and sale of the property.
In liquidations we act on behalf of the Insolvency Practitioner to achieve the best realisation of the assets of the company in liquidation. We liaise with potential purchasers and prepare the agreements to effect a sale. We also investigate any potential claims resulting from antecedent transactions and misfeasance prior to the liquidation.