If an individual has been bankrupt or a company has entered a formal insolvency process such as liquidation or administration, certain transactions that were made before the start of the insolvency may be at risk of being challenged and overturned under provisions in the Insolvency Act 1986.
Types of reviewable transactions include;
- Transactions at an undervalue
- Extortionate credit transactions
- Void transactions
- Avoidance of floating charges
- Transactions to defraud creditors
- Invalid floating charges
What should I do if a claim is made against me?
There can be serious consequences for directors if allegations of misconduct are proven including becoming liable for some or all of a company’s debts. Third parties who have benefited from the above transactions may also be required to repay sums back to the company or trustee in bankruptcy.,This is a complex area of law and it is advisable to seek advice from an experienced insolvency practitioner.
Speak to one of our specialist insolvency lawyers today
Lincoln & Rowe advise clients on all aspects of antecedent transactions and other areas or personal and corporate insolvency litigation in the UK and international jurisdictions.
Make an online enquiry, send an email to firstname.lastname@example.org or call us on +44 (0)20 3968 6030.
Who we can help
Our commercial solicitors at Lincoln & Rowe possess significant experience in dispute resolution, gained from years advising on high-value and complex litigation. We act for individuals, owner managed enterprises, national and international businesses based in the UK and abroad, in a range of jurisdictions. We advise both claimants and defendants.
Where can you find us?
Lincoln & Rowe Solicitors are based in the heart of London and just a few minutes’ walk from the Royal Courts of Justice. Our full address is 81 Chancery Lane, London WC2A 1DD.