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Facing insolvency or bankruptcy is incredibly stressful. Especially when you have a business to run. And if it is your family business the upset is even worse.

Insolvency in a time sensitive issue. The longer you leave payment, the more serious the consequences can be. As such, if you or your business is struggling with debt, it is vital you take immediate action.

Our insolvency solicitors can help you with;

  • Avoiding insolvency if you are in financial trouble
  • Negotiating repayment plans with your creditors
  • Protecting your family assets if a family member becomes insolvent
  • Bankruptcy
  • Corporate insolvency
  • Statutory demands
  • Annulment of bankruptcy
  • Individual Voluntary Arrangements (IVA)
  • Company Voluntary Agreements (CVA)
  • Insolvency disputes (including Directors Guarantees)
  • Debt management
  • Financial crisis management
  • Liquidation
  • Receivership

 

The Difference Between Insolvency and Bankruptcy

Insolvency is your financial state. When you are insolvent, you are not able to pay your debts when they are due.

Individuals or businesses can become insolvent. However, the term most often refers to businesses.

There are two types of insolvency. A business can become insolvent in one or both ways at the same time.

  1. Cashflow insolvency: Is when your business does not have enough liquid capital to debts. But it does have illiquid assets.
  2. Balance sheet insolvency: Is when your company’s debts are greater than both its liquid and illiquid assets.

Insolvency can happen quickly. All it could take is the loss of a big contract, or customers failing to pay their debts.

Bankruptcy is a legal process or court order issued when a business can no longer pay its debts. This means you are already insolvent when applying for bankruptcy.

Bankruptcy may or may not the best solution for you, so it is important to seek legal advice.

 

Can You Help Keep My Debt Private?

We understand how sensitive debt and insolvency is. Especially for those who own businesses and people in the public eye.

When we negotiate with your creditors, we can make sure any settlement includes a confidentiality agreement. This will help to keep your debts private.

 

Why Choose Rothera Bray?

If you are struggling to pay down your debts, we understand that it will be an emotionally tough time.

Our insolvency and bankruptcy solicitors can offer compassionate advice and provide a solution tailored to your circumstances.

We have vast experience of helping business owners and individuals with their debt, insolvency, and bankruptcy issues.

We can offer help, support and guidance on your legal position and the possible consequences of becoming bankrupt or insolvent

Contact our Business Dispute Team

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“We recover your money whilst also ensuring our own fees are transparent throughout”

Tehri Sygrove
Debt Recoveries Manager

If you’re happy then we’re happy too.

4.8 358 reviews

Posted 27/01/2020

Rothera Sharp Solicitors’ ‘skilled’ team handles personal injury claims including public liability, accidents at work and road traffic accidents often involving – among others – children and foreign nationals. Recent work included settling a claim for a pedestrian involved in a road traffic accident, acting for a child claimant following a hand injury sustained at a playground and representing a claimant in a public liability claim pertaining to fractures sustained on a slippery floor. Elisabeth Halls combines ‘good judgement with the right amount of scepticism and has a proven ability to optimise outcomes for claimants.

Legal 500, 2017

Posted 27/01/2020

I cannot thank you enough for all you have done for me. I don't know whether you can truly appreciate how incredibly important the success of this matter is to me. I couldn't have done this without you, and there just aren't the words to express my gratitude to you for all this. You have enabled me to have a peace of mind and you just can't put a price on that. Please tell Rebecca how absolutely thrilled to bits I am with the work you have done for me, which is beyond priceless and for which I will be forever grateful

Mediation Client

Posted 27/01/2020

I want to say a massive thank you for all your hard work….I will never forget how you were prepared to believe in me….you energetically pursued my case to achieve the best possible outcome

J Wilson

Posted 27/01/2020

My previous dealings with Rothera Bray have always been excellent-total efficiency and professional. Jayne Smith previously and now Emily Weston. I would always use Rothera Bray as my solicitors. Thank you.

David Armstrong

Posted 12/08/2020

I would highly recommend James Briggs, solicitor at Rothera Bray. He has been extremely helpful, patient and thorough whilst helping me with affairs following the death of my husband. Even during lockdown (covid) he maintained communication and kept me informed of what was happening. He successfully achieved the outcome I needed and I would not hesitate to recommend him.

Yvonne Gold

Posted 30/09/2020

We are in the middle of launching our own packaging agency and contacted Rothera Bray for some professional legal advice with regards to contracts. After an initial call with Billy, he made it clear what we needed and asked plenty of questions to understand what it was we needed. He was very responsive to our questions, whether it be over the phone or via emails and made the process really simple. We had little experience in this area so it was fantastic to work with Billy, who explained everything concisely. We were also really pleased with the quick turnaround and great value offered. Would thoroughly recommend working with Rothera Bray.

Tom Burden, Director of Rightbox Ltd

Posted 30/09/2020

Billy understood our requirement from the get go and really nailed down on what we needed in our commercial agency agreement. Billy kept us informed every step of the way and showed great professionalism. We would recommend his services to any start-up business who is in need of legal advice and guidance with commercial contracts.

Axl Barber, Sales Director of Rightbox Ltd

Posted 11/02/2021

I was extremely pleased with the service that Kerry provided in order to sell my mothers house. Good, prompt communication and all questions dealt with or answered as requested. Consequently I would recommend yours services to others.

Adam Stevens

Posted 07/06/2021

Dear Sally, I can’t thank you enough for today! You took the pressure off me and I felt so looked after and understood everything that was happening. Thank you so much!

Kelly Neave

Posted 07/06/2021

My experience with Rothera Bray was an easy and smooth process, regarding a settlement agreement with a previous employer. They helped me understand all the legal jargon and details and made it very clear what the agreement was asking of me and what they would provide in return without it seeming complicated. They were prompt and resolved any issues or queries I had and I found them to be friendly and professional. I would definitely recommend Rothera Bray to anyone seeking legal advice, even if you've had no experience with a solicitor before, as they're very welcoming and help you to understand everything.

E. Jackson

Posted 06/07/2021

Thank you for all your hard work, which paid off in the end. As well, thank you for your amazing service and support you provided for me all the way through. It was pleasure to work with you and I wish you all the best.

Patrik Fresko

Posted 27/09/2021

I recently had the good fortune to engage Rothera Bray for a company sale. From start to finish, Sandeesh Samra and the team were on hand to give practical and professional advice.

Alison Purchas

Contact our Debt Recovery Team
Debt Recovery
Tehri Sygrove

Terhi Sygrove

t.sygrove@rotherabray.co.uk

Terhi Sygrove is a debt recovery specialist and head of the debt recovery department at our Lace Market Office.

Paige Regardsoe

Paige Gajic

p.gajic@rotherabray.co.uk

Paige Gajic is an Associate Solicitor in our Dispute Resolution department and is based at our Lace Market office.

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