Company Insolvency

Insolvency Services

Winding Up petitions are frequently used to recover debts owed by limited companies which are not disputed or where more than £750 is not disputed. 

PLS provides advice and assistance in opposing winding up petitions threatened / issued in respect of disputed debts, including the making of application to the court to restrain the issue and/or advertisement of petitions.

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Winding Up Petitions 

Certain duties and obligations are imposed on officers of a company (which includes Directors (whether actual or shadow) and Secretaries) and apply both before and during liquidation. 

 PLS specialise in providing advice and assistance to Directors / Company officers faced with prosecution and claims arising out of their conduct in running companies that have gone into insolvent liquidation and in defending such claims.

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Malpractice by Company Directors

Directors need to consider what they can offset against overdrawn loan accounts to reduce or extinguish their liability.

PLS Solicitors specialise in providing advice and assistance to directors faced with demands for repayment of alleged overdrawn loan accounts and defending such claims if court proceedings are issued.

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Directors Loan Accounts

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When a company goes into insolvent liquidation, the former owners/directors are often tempted to try and retain some of the goodwill associated with their former company.

PLS Solicitors provide both specialist advice and assistance in making application for the court’s permission to re-use a restricted name and in defending claims brought against those alleged to be in breach of the above sections.

S.216 Applications 

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The Secretary of State may consider that the conduct (or misconduct) of the former director(s) is such that they should be disqualified from being director(s) of any other company usually for period of between 2 and a maximum of 15 years.

PLS Solicitors specialise in Company Insolvency, especially Directors Disqualification Proceedings. We provide advice and assistance to directors threatened with disqualification and in defending court proceedings once commenced

Directors Disqualification Proceedings

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