Creditors want to be treated fairly, and not disadvantaged by directors who ignore their statutory responsibilities or contributed to the demise of the business through negligence, misappropriation of assets or misconduct.
Our Team has extensive investigative experience and technical knowledge which enable us to identify areas to examine, collect evidence and pursue claims. As insolvency practitioners we use powers given to us in legislation to force uncooperative directors or debtors to provide information, and to gain assistance from third parties such solicitors, accountants, bankers and financial advisers. Within the insolvency sphere we commonly bring claims for:
• Breach of fiduciary duty
• Transactions at undervalue
• Wrongful and fraudulent trading
• Recovery of unlawful dividends
In the past many cases of misconduct have not been pursued due to lack of funds. However, we are now able to negotiate funding arrangements, or enter conditional fee or other agreements, to ensure that claims do not fail for that reason. We always ensure that costs are proportionate and that the outcome will benefit creditors.
We have strong relationships with litigation solicitors and counsel, and access to outside specialists where specific skills are required.
The tri group approach
Calling on the services of a firm like ours inevitably means that there are serious problems to address, usually urgently. In summary:
We are committed to helping businesses with financial pressures to overcome those problems; we regard winding up as the last resort.
We’ll explain the process using clear, jargon-free language, and set out the issues that the client will need to address. We’ll support the client throughout the process.
An initial meeting will always be without charge or obligation. We do not charge clients for the privilege of explaining their problems to us.
Professionalism, Integrity and Compassion matter to us. We will always be driven by the need to provide the best possible advice, not to maximise our fees. We are interested in building long-term relationships with professional advisers.
When formal insolvency is unavoidable, we will help select the most appropriate procedure for the particular circumstances so as to achieve the most beneficial outcome for creditors, guarantors and other stakeholders.
We’ll spend time listening carefully and making sure that we fully understand the problems before we analyse the options.