Insolvency & Law Shortlisted for “Insolvency and Restructuring Firm of the Year 2016″ award

London-based magazine Finance Monthly, which is distributed to more than 100,000 readers across the globe, recently shortlisted Insolvency & Law (I&L) in the category of British ‘Insolvency and Restructuring firm of the year, as part of the  eighth annual Finance Monthly Global Awards. To celebrate the nomination, below, I&L director Peter Murray shares his thoughts…

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Why winding up petitions are more efficient than county courts

We recently spoke with a client who for the previous three months had been chasing a customer with an outstanding invoice of just over £50,000. The client was considering litigation in the county court to retrieve the money and I suggested that a quicker and more cost-effective route might be to issue a winding-up petition.…

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How to ensure your winding up petition is not dismissed or withdrawn

Some time ago, we presented a winding up petition to a company that owed one of our clients £50k. Upon receipt, the respondent company threatened to apply for a court injunction to restrain us from proceeding and dismiss the petition on the grounds the debt was disputed. The respondent company falsely alleged that £49k of…

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How should builders and tradesmen collect overdue debts?

According to figures released by the Office of National Statistics, the building and construction industry contracted 1.9% in the third quarter of 2015, which suggests contractors will be tightening their belts this year as the market becomes more competitive. This is particularly bad news for roofers, plumbers and other subcontractors (‘subbies’). Why? Because in a…

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The UK construction industry writes off £2bn annually of bad debt

According to a report released earlier this year from Bibby Financial Services, the UK construction industry has a very serious problem managing its bad debts. Just over 70% of small, medium and large UK construction firms write off an average of £10,000 per year. Often firms have to write off the debt completely, settle with…

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Rugby super league team issued a creditors winding up petition

It appears that top flight sports teams are not immune to becoming caught up in Insolvency proceedings. Salford City Reds or the Red Devils as known by rugby fans, who currently sit mid table of the Rugby Super League, have been hit with a winding up petition from creditor, Konica Minolta, and have a court…

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Insolvency & Law nominated for “Insolvency and restructuring firm of the year 2015

Insolvency & Law are proud to announce that we have been shortlisted for the prestigious “Lawyer Monthly Legal Awards 2015” in the “Insolvency and Restructuring Firm of the Year” category. http://legalawards.lawyer-monthly.com/ “The Legal Awards” has been recognising achievement and success in the UK legal industry since 2009 and past winners of the prestigious award have…

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