Corporate Recovery & Insolvency
A period of financial difficulty will be one of the hardest times any business faces and, quite often, those in control will be under mounting pressure from creditors and the responsibility of the business, employees and their own livelihoods being on the line. It is easy for heads to be buried in the sand and it is important to have the correct advice and guidance on how to best approach the issues at hand.
Tilly Bailey & Irvine work closely with Insolvency Practitioners in order to advise and assist in relation to their duties. In turn, we involve Insolvency Practitioners early when providing initial advice to clients, including the options available to them, when financial struggles are mounting.
Tilly Bailey & Irvine’s Insolvency Team is headed by Partner Craig Malarkey, who is supported by a team including Solicitor Michael Stevens who are experienced in the full range of insolvency matters, including having experience of working in an Insolvency Practitioner’s firm.
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Our Insolvency Team has significant experience in all insolvency matters including:
- Creditors’ Voluntary Liquidation
- Compulsory Winding Up
- Members’ Voluntary Liquidation
- Company Voluntary Arrangement
- Individual Voluntary Arrangement
- Receiverships – LPA and Administrative
Within the numerous forms of insolvency process there will be both contentious and non-contentious elements of legal work. Tilly Bailey & Irvine are experienced in both aspects.
The combination of Tilly Bailey & Irvine’s Insolvency and Commercial Disputes Teams means that we can assist in all contentious aspects of insolvency matters such as debt collection, resolving retention of title issues and dealing with landlord and tenant disputes for businesses that occupied leasehold premises.
In addition to the above, Tilly Bailey & Irvine also understands the importance of correctly identifying and dealing with director misfeasance as part of a winding up process and the Insolvency Practitioner’s duties in this regard.
Quite often such matters can turn litigious and it is important to have the correct advice and experience on your side. This applies not only to Insolvency Practitioners but also the directors with whom we work that are dealing with potential misfeasance claims against them.
We understand the difficulties that Insolvency Practitioners face in funding litigation with little to no resources available in the insolvent entity. We will quite often work with Insolvency Practitioners in agreeing flexible arrangements regarding our fees to reach a solution that works for everyone involved.
There is a wide range of non-contentious matters that need dealing with in most insolvency processes and Tilly Bailey & Irvine has the extensive support required in order to handle such matters quickly, professionally and properly. We are experienced in matters such as buying and selling insolvent businesses, drafting voluntary arrangement proposals and advising on employee redundancies.
We also have strong support from our Commercial Property Team and handle matters involving properties in insolvent matters such as acting for LPA Receivers or acting in the sale of properties for mortgagees in possession under a power of sale.
The Legal 500 (2017) comments:Tilly Bailey & Irvine is ‘a very professional firm’ that ‘handles all matters extremely well’ and has ‘exceptionally broad knowledge and a friendly approach’. The department’s client base spans SMEs, individuals, lenders, landlords, debtors and insolvency practitioners. ‘Excellent litigator’ Kenton Bazeley leads the group and ‘is a real asset to the team’; clients rate his ‘ability to handle any situation that arises due to his up-to-date and current expertise’. Also recommended are Craig Malarkey, who was promoted to the partnership in 2016 and handles a range of commercial restructuring and insolvency issues, and associate Sara Garnett, who regularly handles real estate-related insolvency work.
Tilly Bailey & Irvine is complemented by the following teams to enable us to provide a full range of services to you and to deal with all aspects of insolvency matters: Corporate, Commercial, Employment, Commercial Property, Commercial Disputes, Conveyancing, Family, Crime and Probate.