Companies that struggle with debt should solicit legal advice from our insolvency solicitors in Birmingham. Businesses might confront unwanted situations at a certain time, and if the debts cannot be repaid, legal support is required. If you face such difficulties, we recommend you talk to one of our specialists. They can offer optimal solutions and legal counseling for your case.
How can our insolvency solicitors in Birmingham help?
Our insolvency solicitors in Birmingham have experience in this field and can be a good option for the complicated process that might commence. Here is in large lines how we can help:
- We can provide support for insolvent or bankrupt companies.
- The company restructuring can enter our attention.
- We can negotiate the repayment agreements with the debtors and creditors.
- If you own shares in an insolvent company, you can get in touch with us.
- We can provide legal advice for family assets if a company is insolvent.
- The legal advice of our insolvency solicitors in Birmingham is required for company owners who deal with financial problems. Our team can discuss the optimal solutions that can be implemented in your firm.
What does an insolvency solicitor in Birmingham do?
Insolvency cases are special and complex. Because of these reasons, it is required to have the support of an insolvency solicitor in Birmingham who will analyze your case and provide a series of solutions. There are legal steps to consider:
- They can settle legal disputes and unpaid agreements.
- Specific assets can be sold to pay the creditors. Our insolvency solicitors in Birmingham can intervene.
- Then, the payment of debts and VAT if it is the case, will be made.
- A report with information about the reasons the company went bankrupt will be provided.
- The company is then erased.
How can you avoid insolvency litigation?
Instead of entering the insolvency litigation and deal with your company debts in the court of law, you can solicit the legal advice offered by one of our insolvency lawyers in Birmingham. A specialist in this field will know how to create a scheme of arrangement and to explain the benefits in cases of company insolvency. Such an agreement will be established between companies and creditors, plus, it will comprise information about how to reduce debts under certain conditions. This is often the choice instead of other restructuring tools. Our team of insolvency solicitors in Birmingham has the needed skills for negotiation.
We can help international clients
Cross-border insolvency matters enter the attention of our specialists in Birmingham. The full spectrum of insolvency is important to us, no matter if the company owners are domestic or from abroad. Foreign entrepreneurs with companies in the UK must comply with the applicable legislation from the start, still, if financial problems intervene, the case might get complex. The enforcement of judgments can be properly handled by our experienced team of insolvency solicitors in Birmingham.
Liquidation and administration – what happens to my company?
Companies found in the impossibility of paying the debts can be part of a voluntary arrangement to handle the ways in which the repayments will be made. In the case this solution is not working, liquidation will be imposed. This means that the assets will be sold and the company will be liquidated. Unfortunately, the creditors can take action and force companies to pay the debts by declaring bankruptcy. This is where our insolvency solicitors in Birmingham can intervene and provide comprehensive legal advice. They can propose a series of methods and solutions, in order for company owners to get rid of the debts as soon as possible.
If you believe you struggle with an insolvent company in the UK, you should get in touch with our insolvency solicitors in Birmingham and find out more about the legal advice we can offer. Below you can find information about companies in the UK:
- A report provided by companybug.com reveals that small and medium companies in UK contribute a turnover of around 2.3 trillion on a yearly basis.
- Around 3.5 million sole traders are registered in UK in 2020.
- In 2019, 2 million trading companies were operating in UK the same year.
- There are around 414,000 registered partnerships in UK.
The cases of insolvent companies are quite complex, particularly if the business owners struggle with financial problems for a while. Our insolvency solicitors in Birmingham can offer the necessary legal advice and assistance as soon as you get in touch with them. We can assist our clients and offer the required legal representation.