Insolvency

Situations involving insolvency often require decisive action, taken in a short time-frame, against a backdrop of highly technical legal provisions and case law.

The Insolvency team at Teacher Stern has extensive experience of all aspects of insolvency, including liquidations, administrations, CVA’s, appointment of receivers, bankruptcy and IVA’s.

The practice group regularly advises on:

  1. instituting and defending formal insolvency processes;
  2.  investigations and claims by office holders in the course of their appointments, including regulatory and compliance issues;
  3. claims against directors and other individuals regarding breach of fiduciary duties, directors disqualification, re-use of company names and overdrawn loan accounts; and
  4. protecting creditors’ interests, including issues relating to security, costs of insolvency processes and office holders’ conduct of appointments.

Whether you are an insolvency practitioner, a company director or an individual, we have the specialist insolvency knowledge that can make all the difference in dealing with the multitude of difficult issues that can arise where insolvency is an issue.

Representative Insolvency Work

Examples of our team’s insolvency experience include:

  • Advised the joint liquidators of a hotel group in relation to an alleged fraudulent restructuring, including the unlawful declaration of dividends in specie, transactions at an undervalue, misfeasance by directors and other applications under Sections 234, 235 and 236 Insolvency Act 1986.
  • Advised the joint liquidators of a household technology manufacturer in relation to the realisation of its debt book.
  • Advised the London branch of Landsbankki on securities lending disputes including the first High Court case to apply the European regime for cross-border financial institution insolvency.
  • Advised a property development company in relation to a winding up order made as a result of negligent conduct by professional advisors, involving negotiations with liquidators Grant Thornton, the provision of third party funding, a successful CVA proposal, questions of ad valorem charge minimisation and the eventual return of the primary asset to the beneficial owners of the company in liquidation.
  • Advised the liquidator of an adult education provider in relation to claims against former directors for misfeasance, preference claims and unauthorised director loans.
  • Advised a private individual regarding misapplied loan funds and unsuccessful attempts by the respondent debtor to avoid liability by utilising the IVA procedure.
  • Advised a trustee in bankruptcy in relation to transactions defrauding creditors by virtue of the bankrupt entering into matrimonial financial relief orders designed to put assets beyond the reach of creditors, involving issues relating to income payments orders/agreements and occupational pension schemes.

Key contacts:

Photo of Rajesh Pabla

Rajesh Pabla

Partner Dispute Resolution
Home 37-41 Bedford Row London WC1R 4JH United Kingdom Tel: +44 (0) 20 7611 4896

Biography

Rajesh qualified as a solicitor in 2002 and joined the firm in December 2008. His practice focuses on commercial litigation including corporate and shareholder disputes, civil fraud, debt and asset recovery, disputes arising out corporate transactions and commercial contract claims.

He also practices in several fields of professional liability with particular emphasis on claims against lawyers, financial institutions and advisors, surveyors, and architects.

Rajesh acts for clients from a diverse range of business sectors, including property, IT, sports and media, fashion, banking and travel.

Representative Experience

Rajesh has:

  • Advised 3 shareholders who successfully brought claims alleging unfair prejudice against a majority shareholder of an IT company.
  • Successfully defended clients accused of setting up a competing business and arranging the fraudulent liquidation of a company.
  • Advised a director with interests in a group of IT companies, defending claims of breach of fiduciary duty, fraudulent misrepresentation and breach of contract.
  • Defending a claim brought against an elderly client by his former solicitors for unpaid fees in which the sums claimed were found to have been fraudulently exaggerated.
  • Settled claims against financial institutions relating to complex interest rate and foreign exchange hedging products.
  • Successfully defended a widow who was accused by a beneficiary of her late husband’s estate of misappropriating estate assets valued at US$20m.
  • Acted for a claimant in successful proceedings worth £1 million brought against a building surveyor in relation to a failure to give proper advice in relation to flood risk.
  • Successfully opposed a Supreme Court appeal against an order entering Judgment in default in respect of fraud claim worth US$20m.
  • Obtained judgment for a claimant in proceedings worth £2 million brought against a bank in relation to a commercial property sold at an undervalue.

Career History

Partner, Teacher Stern
Solicitor, Teacher Stern
Solicitor, Healys LLP

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37-41 Bedford Row London WC1R 4JH United Kingdom