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

4.7out of 10
4.7 score on Trustpilot Based on count 867

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

Directors duties update - three month extension to file accounts and wrongful trading

The government continues to issues briefings on their measures to ease the regulatory burden on companies during the current crisis. Further measures to assist directors and SMEs are expected over the coming weeks, and we will continue to update our advice...

Read more

Twitter commercial

@CommercialLLP

Stephensons supports clients through pandemic

Stephensons is operating an agile working approach to assisting clients and is still open for business in the face of the coronavirus pandemic. Following the guidance issued by Public Health England (PHE) the firm’s services remain open and...

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
  • Sebina Noreen Malik
  • Mark Williams​
  • Martin Haisley
  • Terri Meehan
  • Laurence Searle
  • Kenneth Tang
  • Neil Marshall
  • Declan Gilroy​
  • ​Kerrie Ainscough
  • Matthew Smith