Trading whilst insolvent

If your business is in financial difficulty and may be insolvent you should seek specialist legal advice at the earliest possible opportunity. If the business subsequently enters a formal insolvency procedure and you have continued to trade whilst it was insolvent there is a high risk of an insolvency practitioner seeking to recover loss incurred in that period from directors personally.

Trading while insolvent can breach several provisions of the Insolvency Act 1986 which could result in directors disqualification proceedings.

As a company director it is your duty to act responsibly and act in the best interests of the company.

For more information of the duties of a director please click the following link: Directors' duties

If you would like to speak to a member of our insolvency law team to discuss your situation please call us on 0203 816 9303, alternatively please complete our online enquiry form and we will contact you directly.

loading staff

9.3out of 10
5-stars on Trustpilot Based on count 551

We're Great

It is our business to deliver legal services that work for our clients, and you can trust our specialists to take care of things on your behalf.

Our Trustpilot reviews

The sale of new-build houses as leasehold to be banned - what does this mean for developers?

The Communities Secretary, James Brokenshire MP announced in a speech to the Chartered Institute of Housing conference in Manchester on 27 June 2019 that all new-build houses will be sold as freehold and there will be zero ground rent for new leases of...

Read more

Twitter commercial

@CommercialLLP

Two promotions in the Stephensons family department

The national law firm, Stephensons, has announced two new associate solicitors in its family law department. Emma Roberts, based in the firm’s Manchester office and Nicola Clayton, in Wigan, receive their associateship effective immediately. ...

Read more

Commercial reorder

  • Jonathan Chadwick
  • Louise Hebborn
  • David Baybut
  • Kate Bullen
  • Chris Graves
  • Alistair Gregory
  • Philip Richardson
  • Julie Ball
  • Martha McKinley
  • Paul Davies
  • Jonathon Waterhouse
  • Jessica Charnock​
  • Julie Hunter
  • Adam Pennington​​
  • Andrew Whitehead
  • Mark Williams​
  • Terri Meehan
  • Laurence Searle
  • Neil Marshall
  • Declan Gilroy​
  • ​Kerrie Ainscough
  • Lucy Priestman
  • Matthew Smith