Advice to Creditors
Creditors have certain rights in all types of insolvency procedure. Panos Eliades Franklin & Co can advise you of your rights as a creditor and provide you, often free of charge, with a range of services aimed to help you recover your debt, including:-
- Assisting you to complete claim and proxy forms in relation to meetings of creditors.
- Advising you on your retention of title claims.
- Representing you at creditor meetings.
- Representing you on insolvency committees.
Depending on the circumstances of a case, creditors who play an active role in an insolvency procedure can make a significant difference to the way that process is carried out and the eventual return to creditors. In our view, with specialist advice from a licensed insolvency practitioner, creditors can minimise their losses from bad debts.
If you are a creditor in an Administration or Liquidation and you are unsure as to your position, we will be happy to advise on an informal basis over the telephone. Please contact Panos Eliades or Stephen Franklin who will be happy to help. Alternatively, please complete our online enquiry form and we will get back to you within 24 hours.
Advice to Directors
If you are a director of a company which is being threatened by pressure from trade creditors or HM Revenue & Customs, you may not know who to turn to for advice.
The Insolvency Act 1986 and Company Directors Disqualification Act 1986 impose a range of duties and responsibilities on directors. There are serious penalties for breaches of these and associated statutory provisions including disqualification, fines and even imprisonment. Furthermore, personal liability for debts incurred by the company can also apply.
Panos Eliades Franklin & Co can help and advise directors on their personal position.
It may be that the business of your company is sound and you are keen to ensure that your company and its business continue. You may feel that your company and its business could survive if it had a little breathing space from its creditors.
The primary aim will be to save and preserve the business. However, if that aim cannot be achieved and an insolvency procedure is unavoidable, Panos Eliades Franklin & Co will provide the necessary advice and support.
For further information and a free initial consultation, please contact Panos Eliades or Stephen Franklin, who will be happy to help.