Insolvency & Winding Up
Winding up is a process of ending a company while insolvency deals with individuals who are in the state of insolvent, which usually result in the individual being declared a bankrupt. These are among the methods used to recover debt.
The new Insolvency Act 1967 which comes into force in 2017 brings about a lot of changes and our legal team strive to offer our best in assisting client in accordance with the new law.
Our services include:
- Issuing Letter of Demand
- Negotiating settlement with the judgment debtor
- Representing and Defending Client in Bankruptcy Proceedings
- Representing and Defending Client in Winding-up Proceedings
Our experience includes:
- Represented a multi-national construction company to oppose an injunction to restrain client from presenting a winding-up petition
- Represented our client who was adjudged a bankrupt to negotiate with bank for settlement. It was a successful negotiation as the bank agreed to reduce the debt for our client to settle the matter. Thereafter we successfully represented our client in his discharge application.
- Advised and represented a company on Creditor’s Voluntary Winding Up under Companies Act 2016