Corporate & Personal Insolvency, Restructuring and Receivership


Corporate and Personal Insolvency, Restructuring and Receivership

Insolvency law can be complicated and technical. Disputes between directors or shareholders within a company or between a company and creditors, are usually very stressful for those involved. There are often strict timeframes within which parties must act before significant consequences may be imposed, such as winding up of a company or being made bankrupt. If you are involved in a corporate dispute or you or your company are being pursued by creditors, the sooner you find out what your rights, obligations and options are, the better you can manage the dispute.

The impact of a company being placed into receivership, administration or liquidation can be devastating for both the company and its creditors. Personal bankruptcies also have a devastating effect on the individual and their creditors.

KMNP Law’ corporate insolvency and personal bankruptcy law practice focuses on providing the most practical, straightforward and cost effective legal advice in every scenario.

Our corporate insolvency and personal bankruptcy clients are varied and fall into the following general categories:

  • Companies
  • Individuals
  • Creditors
  • Receivers, administrators and liquidators
  • Trustees

KMNP Law can advise and assist clients to understand:

Corporate Insolvency

  • A company’s rights and obligations to creditors whilst trading;
  • A company’s rights and obligations under various types of agreements, for example, loan agreements, supply agreements and trade agreements, leases etc;
  • A director’s rights and obligations in relation to the running of the company - personal guarantees provided with respect to an agreement entered into by the company;
  • Insolvent trading of a company;
  • A company’s rights and obligations upon the appointment of an administrator or liquidator, either voluntarily or by way of the Tribunal’s Order for the winding up of the company;
  • A company’s rights and obligations when served with a statutory demand.

‚ÄčKMNP Law has experience in the following corporate insolvency law areas:

  • Advice on the validity of Statutory Demands served upon a company;
  • Advice on agreements the company has entered into;
  • Advice on insolvent trading of the company;
  • Applications for the winding up of a company, either for a company wishing to resist such an Application, or alternatively, for a creditor wishing to wind up a company;
  • A company’s rights and obligations when a receiver, administrator or liquidator is appointed to it;
  • The duties and obligations of a receiver, administrator or liquidator in relation to a company;
  • Recovery of monies due and payable by debtors to a company in liquidation;
  • Recovery of money and property transferred by the company by way of a preference, invalid transaction etc;
  • Applications to re-register a company that has been deregistered;

Personal Bankruptcy

  • A person’s rights and obligations in relation to financial agreements entered into by them, for example, mortgages, car finance, hire purchase agreements, credit cards etc;
  • Letters of demand to an individual by a creditor;
  • A person’s rights and obligations when served with a bankruptcy notice;
  • Preparation of Bankruptcy Notices;
  • Advice on the validity of Bankruptcy Notices served on a person;
  • A person’s rights and obligations during bankruptcy;
  • A person’s rights and obligations after bankruptcy;
  • Resisting Bankruptcy Applications in Court for the bankruptcy of an individual;
  • Pre bankruptcy advice to an individual;
  • Advice on a person’s rights and obligations whilst in bankruptcy;
  • Early release of an individual from bankruptcy; and
  • A person’s rights and obligations after they are released from bankruptcy.

Every client of KMNP Law receives the same quality of service and attention to detail regardless of how large or small the company or individual estate may be.

We believe it is important for companies and individuals who are experiencing financial difficulties, to not only immediately seek legal advice but also advise from their accountant and financial advisor. It is critical that when suffering financial hardship, early action is taken to avoid or limit the consequences that may flow to a company (being wound up) or an individual (becoming bankrupt). If corporate insolvency or personal bankruptcy is unavoidable, it is also critical that that party understands their rights and obligations that will result.


Contact Persons:

ABIR PHUKAN
Partner
phukan@kmnplaw.com
+11-45502527

NITIN WALIA
Partner
n.walia@kmnplaw.com
+11-45502527