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 Lee Donoghue

Lee Donoghue

Senior Associate Dispute Resolution
Work 37-41 Bedford Row London WC1R 4JH United Kingdom Tel: +44 (0) 20 7611 4879

Biography

Lee qualified as a solicitor in 2006 and joined the dispute resolution team at Teacher Stern in 2013, as part of the merger with Butcher Burns LLP.

He has experience of a diverse range of contentious matters, with particular focus on commercial and insolvency disputes.

Lee offers a wide range of advice to insolvency practitioners, company directors, creditors and debtors and has experience at every level from the Supreme Court to the County Court and Magistrates Courts. He also regularly assists clients engaging in forms of alternative dispute resolution such as mediation.

Representative Experience

Lee has:

  • Advised liquidators of a hotel chain in relation to claims to recover losses in excess of £1m arising from fraudulent restructuring prior to liquidation.
  • Advised trustees in bankruptcy in relation to antecedent transaction claims intended to put assets beyond the reach of a majority creditor owed in excess of 1m USD.
  • Advised a director of an electronics importer in relation to a petition by the Secretary of State seeking a winding-up order on public interest grounds due to suspicions of missing trader intra-community fraud.
  • Advised directors of a property development company and successfully opposed a claim valued in excess of £1m for breach of confidentiality and fiduciary duties, including successful opposition of an appeal in the Court of Appeal.
  • Advised directors of a publishing company in relation to re-use of a company name after liquidation, as well as proceedings instigated by the Secretary of State pursuant to the Company Directors Disqualification Act 1986.
  • Advised a shareholder/director of a reprographics company in relation to claims of unfair prejudice and breach of fiduciary duty by a fellow shareholder/director.
  • Advised a private investor in relation to loss of her investments due to negligent advice provided by a regulated investment advisor.

Career History

Solicitor, Teacher Stern

Solicitor, Butcher Burns

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37-41 Bedford Row London WC1R 4JH United Kingdom