Demystifying Insolvency - A Practical Introduction for Lawyers & Accountants

Introduction

The only certainty in the UK economy at present is uncertainty.

Many businesses are facing a challenging landscape with the costs of being in business increasing all the time.

Solicitors and accountants who help companies across many sectors and with many different areas of specialism will be at the coal face, speaking to company directors about their challenges and attempting to offer guidance.

Whilst you may only be engaged to help with one area of the client’s business, what do you do if they ask for more general help or what if an urgent problem arises and it becomes apparent that the client is strapped for cash?

This new introductory level virtual classroom seminar is designed to give you practical tips on how to manage that situation.

It is suitable for lawyers and accountants who are not insolvency specialists but may need to quickly get to grips with a difficult position which could not only put their client out of business but have a negative knock-on effect for the advisor as well.

What You Will Learn

This live and interactive course will cover the following:

• Corporate insolvency:
• Common issues
• Examples of scenarios that may be encountered, including board or shareholder disputes paralysing the business, disputes with landlords, HMRC enforcement action, receipt of a winding up petition, disruptive employee claim, large bad debt, lack of funds, and difficulties with a lender
• Information to ask for
• Initial matters to check
• Where does the bank sit?
• How to assess the urgency
• Is there a winding up petition in place, or any other form of enforcement pending?
• Sector specific issues and regulation
• Avenues for rescue - legal and practical steps - overview of the main procedures including administration, liquidation, CVA, receivership
• What does the client want to achieve?
• Who to involve for back up
• Independent advice for directors
• How to manage your own housekeeping
• Conflict of interest and other pitfalls
• Your own costs - practical steps and measures
• Personal insolvency - how do the options and the approach differ in the context of an individual rather than a corporate client?

Recording of live sessions: Soon after the Learn Live session has taken place you will be able to go back and access the recording - should you wish to revisit the material discussed.