If you cannot pay your debts as and when they fall due or your assets are less than your liabilities, then your business is insolvent. Unless you pay your debts quickly, then the insolvency may lead to winding up against your company or bankruptcy if you are an individual.

Healys provides advice on insolvency issues to individuals, business owners, directors, shareholders, creditors, insolvency practitioners and lenders.

We act for both insolvency practitioners and companies in formal insolvency procedures. We also advise on the options available where the company is not yet in formal insolvency and we assist creditors enforcing their debts by the most effective means.

Healys advise on a wide range of both individual and corporate insolvency issues. We understand the need for quick and succinct advice when insolvency issues arise. Healys will identify the core issues and provide both practical and cost effective solutions.

Our work includes: 

Corporate Insolvency

• Administrations (including pre-pack administrations
• Sales by or purchases from administrators, liquidators and receivers
• Insolvent liquidations
• Advising and negotiating both insolvency practitioners and buyers on sale/purchase of the business & assets of a company in administration
• Administration Orders
• Company voluntary arrangements
• Resisting winding up petitions
• Advising Companies on exit routes out of administration where the business can be saved
• Compulsory winding up petition

Property related issues

Combining our litigation and property teams, Healys advises on a number of property issues as follows:

• Law of Property Act receiverships
• Leasehold property repossessions on behalf of landlords
• Forfeiture and distress
• Property portfolio restructuring
• Advising Landlords’ of their rights against insolvent tenants
• Mortgage repossessions

Personal Insolvency

• Investigating transactions at undervalue and applying to set aside property disposals which fall within the remit; 
• Advising on repossession of the matrimonial home and the rights of the non-bankrupt spouse;
• Advising on applications for income payments orders;
• the recovery of assets for the bankrupt's estate;
• the examination of bankrupts and other persons.