Creditors want to be treated fairly and not disadvantaged by the actions of company officers and bankrupts who try to place assets beyond the reach of creditors.
It is common to both company liquidations and personal bankruptcies that transactions undertaken after the commencement of winding-up or presentation of the petition are void unless validated by the courts. Creditors justifiably want fair treatment when assets are distributed, subject to the rights of secured or preferential creditors.
We have a long and highly successful track record of identifying and taking effective legal action on behalf of creditors for claims using the Insolvency Act such as transactions undertaken at undervalue; misfeasance by directors; transactions defrauding creditors; and, preferential payments. These are some of the type of claims we regularly and successfully pursue on behalf of creditors who find themselves the victims of unscrupulous individuals.
For further information, please contact one of our Partners who will be able to assist you.