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Tell us what is happening
Explain who is involved, the financial pressure, notices received and any hearing, payment or response deadline.
Solicitors DirectTMInsolvency & Restructuring Help. NOW.
Clear initial guidance for companies, directors and creditors facing financial distress, enforcement or formal insolvency action.
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How Insolvency Enquiries Work
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Receive free guidance
Get clear initial information about immediate priorities, documents and sensible next steps.
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Complete your details
Where specialist help may be appropriate, provide only the information needed to match the enquiry.
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Speak with the right solicitor
We connect suitable enquiries with a participating insolvency or restructuring specialist.
What May Matter in an Insolvency Case?
The stage reached, available cash and assets, creditor action, security, director conduct and deadlines can materially affect the options.
Urgent Notices & Hearings
Statutory demands, winding-up petitions, judgments and hearing dates may need immediate attention.
Financial Position
Cash flow, liabilities, asset values, secured debt and creditor pressure help identify realistic options.
Company Records
Accounts, board minutes, bank records, contracts and communications may be central to advice and later scrutiny.
Director & Personal Exposure
Guarantees, drawings, dividends, transactions and conduct after insolvency became likely can affect personal risk.
Documents You Should Keep
Preserve complete records and avoid moving assets or paying selected creditors without appropriate advice.
Accounts & Management Information
Bank, Loan & Security Documents
Demands, Petitions & Court Papers
Creditor and Supplier Correspondence
Guarantees & Key Contracts
Board Minutes & Transaction Records
Insolvency & Restructuring FAQs
What should I do after receiving a winding-up petition?
Treat it as urgent. Record the hearing date, obtain the petition and supporting documents, preserve records and seek specialist advice promptly. Options depend on whether the debt is genuinely disputed, can be paid or secured, or whether rescue or formal insolvency steps are required.
Can a company continue trading when it cannot pay its debts?
That depends on the circumstances and whether there is a reasonable prospect of avoiding insolvent liquidation or administration. Directors should obtain advice, monitor the position closely and document decisions.
Can directors become personally liable?
Possible exposure can arise from personal guarantees, wrongful trading, misfeasance, unlawful dividends, transactions at an undervalue, preferences or other breaches of duty. Liability is fact-specific and not automatic.
What is the difference between administration and liquidation?
Administration is generally aimed at rescue, a better result for creditors or realising secured assets. Liquidation brings the company toward closure and distributes available assets under statutory rules.
Can a statutory demand be challenged?
Sometimes. Grounds may include a genuine substantial dispute, a counterclaim or procedural defects. The relevant deadline and whether the demand concerns a company or individual are important.
Can I ask a question without instructing a solicitor?
Yes. Solicitors Direct provides free initial guidance. A referral is offered only where the enquiry appears suitable and you choose to proceed.
Do Not Ignore an Insolvency Deadline.
Explain the situation now and receive clear initial guidance about the next step.