Bankruptcy and Insolvency Solicitors in Thorpe Bay

When it comes to bankruptcy and insolvency BTMK has one of the only specialist litigation teams in the region. If you have decided that you need to file for bankruptcy or you are a creditor who is owed sums of money, our bankruptcy solicitors in Thorpe Bay can help.

Choosing bankruptcy is not a decision that should be taken without serious consideration and specialist advice can be crucial. If a creditor has applied for a bankruptcy order against you and you want to challenge this or have a Bankruptcy Order annulled, we can advise you on your options and assist you at every stage of the process.

There is no minimum amount of debt required for a person to apply for their own bankruptcy. Different rules apply if someone else is applying to make you bankrupt. In these circumstances, a bankruptcy order will be made for one of the following:

• You can’t pay your existing debts and choose to declare yourself bankrupt
• Your creditors are owed £5,000 or more and they apply to make you bankrupt
• If you’ve not kept to the terms of an individual voluntary arrangement (IVA) and the case managers (the IVA Supervisor) makes you bankrupt

Corporate Insolvency

If a company can’t pay what it owes or has liabilities greater than its assets it might become insolvent. There are a range of options for company directors and our corporate insolvency lawyers in Thorpe Bay can help with advice and the different legal proceedings, as set out in law. As specialists in debt recovery, and in dealing with Liquidators and Administrators, we can assist creditors trying to recover sums of money too.

If you’re thinking of issuing a Winding Up Petition, or have one threatened against your company, BTMK are here to help. There are urgent steps which may need to be taken, including injunctions, to prevent the advertisement of a Winding Up Petition, and which can be crucial to the future operation of your business. It can impact upon your bank accounts, your reputation and any future credit in the event that a winding up petition is issued. It can also impact upon your leases and any other commercial property that you might occupy. It is therefore vital that you take advice at the earliest opportunity if there is a risk of a winding up petition being issued against your company. Likewise, if you are thinking of issuing a winding up petition against a company that owes you money, there are vital steps that need to be taken to make sure you are protected against the petition being defended.

Bankruptcy & Insolvency Relationships

At BTMK, we are specialists in dealing with all aspects of bankruptcy and insolvency law. Sometimes however, you need advice from other professionals before legal steps should be taken. If you need advice from a liquidator, an administrator or a trustee in bankruptcy, to work through the ramifications of an insolvency related action, BTMK are here to help. We have the specialist know-how, the relationship from having worked in this area for many decades and an understanding of how the process works to be able to refer you to the appropriate specialists before you require assistance from lawyers. However, we are always the best place to start, and where we can refer you for more specific technical advice, we will always do so.

Trusted InsolvencySolicitors in Thorpe Bay

The BTMK bankruptcy and insolvency solicitors in Thorpe Bay work with professional advisers and clients ranging from individuals seeking IVAs or averting bankruptcy to family-run companies and major multinationals, to help you secure the best result, irrespective of your position in the process.