The potential insolvency of a company is one of the most critical issues directors and shareholders of companies can encounter. Mellor Olsson provides strategic advice to company directors and shareholders on all aspects of solvency.
Mellor Olsson works closely with accountants, administrators, trustees and/or liquidators to ensure compliance by directors with legislative and other requirements that can impact on a company generally and on directors personally. Where necessary, we provide advice and recommendations to assist with reconstruction to avoid insolvency.
When insolvency or bankruptcy proceedings cannot be avoided, we are able to assist with winding up or bankruptcy proceedings for a company or an individual.
Mellor Olsson also provides advice to administrators, receivers, liquidators and trustees in bankruptcy on all aspects of the relevant law, particularly in relation to their obligations and responsibilities.
We also have experience in court proceedings both for administrators, receivers, liquidators and trustees in bankruptcy (including breaches of directors’ duties and preference payments) and against administrators, receivers, liquidators and trustees in bankruptcy (including breaches of his or her duties).