The Insolvency Process

When companies or individuals cannot pay their bills, the Insolvency Process steps in to close the books and pay off those creditors they can. There is ample scope for monies to go astray, which is why the Insolvency Practitioner must take a robust approach, recovering assets from errant directors and unscrupulous bankrupts who have diverted wealth at the expense of those they owe money to. Mark Jenner & Co Limited has wide experience of tracing and recovering assets on behalf of Insolvency Practitioners.

The Insolvency process must be tough to deal with such circumstances, but sometimes Practitioners can be overzealous when dealing with officers of a defunct company or an individual who has become bankrupt. The Practitioner has a duty to investigate suspected losses arising because the company may have been fraudulently trading or an individual was paying his friends and family in preference to his other bills. However, in practice he might make loosely founded accusations in an attempt to secure a quick financial settlement. In such cases, Mark Jenner & Co Limited is able to demonstrate solvency when the transactions were made, often reconstructing accounting records where necessary, to show that monies were taken out of a business legitimately.

We understand how stressful it can be facing any form of regulatory intervention. If you require support defending your financial position and explaining income during the Insolvency process, please give us a call.