A selection of recent Case Studies to show how we have helped others in your position.

Case Study 1: Liquidator increased debt amount after liquidation

Our client’s debt, supposedly, doubled from £60,000 to £120,000 once the Liquidator had taken control of their former company. The Liquidator had no interest in properly reconciling the amount due. All of our client’s requests for help were ignored. The client approached us worried that the Liquidator would follow through on their ‘threats’ to make them bankrupt.

As is all too common in corporate insolvency, the Liquidator’s priority is not the former director. We were able to do an initial assessment of the papers our client had received and then use our considerable experience to approach the Liquidator more formally and robustly.

It took some considerable effort but we were able to get the Liquidator to back down and then put them in a position that they wanted to negotiate a settlement rather than insist on our client’s bankruptcy. We also conducted a reconciliation exercise to show that the amount of the debt was actually far less than the original £60,000 and nothing like the Liquidator’s demands for £120,000.

When we presented all of this information to the Liquidator, we were able to get them to confront the reality of the situation and then take into consideration our fees which had been caused by the Liquidator’s intransigence. Three months after appointment, we agreed a settlement which, including our fees, was £24,900.

Case Study 2: We get £25,000 Directors Loan written-off

Our client approached us as they had received a demand of £25,000 around 8 months after the liquidation started. When the process started they were told they would have no liability whatsoever.

Using our forensic approach, we were able to obtain and then investigate substantial accounting records but the Liquidator fought every step of the way against releasing documentation. Each tranche released showed more issues with the Liquidator’s claims.

After 9 months of correspondence, we were able to show the Liquidator that there was little chance of any recovery and they agreed to write-off the balance and close the liquidation.

Case Study 3: Directors Loan & Preference – Claims withdrawn by Liquidator

Our client came to us having placed his company into liquidation and being told he would not be liable for any debts. Quickly after the liquidation started, the liquidator said he owed £40,000 as a combination of a Directors Loan and Preference Repayments.

Using our forensic approach, we were able to investigate the basis of the liquidator’s claims.

It was clear to us that our client had no case to answer and we entered into extensive correspondence with the Liquidators. 

Our efforts paid off. The Liquidators reviewed their position and agreed that they would not pursue any amounts from our client and would finalise and close the liquidation. 

In this case, liquidation should never have been advised and it was clearly in the Liquidators’ best interests to liquidate the company and not the other stakeholders.