Our team of Recovery and reorganisation specialists provide advice, training and support to creditor groups and local authorities on the use of bankruptcy as a tool to recover monies owed by individuals.

We help creditors drive up returns on their bad debt portfolios in relation to both company debts and with personal bankruptcies while reducing costs.

Bankruptcy is the principal court based remedy in England, Wales and Northern Ireland for dealing with the financial affairs of those individuals who are unable or unwilling to pay their debts as and when they fall due.

Our specialists are able to advise creditors on:

  • claims against insolvent customers and their asset worthiness
  • petitioning for bankruptcy
  • act as trustee in bankruptcy to maximise returns to creditors
  • provide regular reporting on progress
  • provide technical advice and assistance in respect of all forms of insolvency proceedings
  • free in-house training in the use of bankruptcy as a recovery tool
  • assessment of recovery prospects
  • report of proceedings
  • advise on proposals for voluntary arrangements.

Our approach

  • Focus on the financials – we help clients maximise their cash return, reduce servicing costs and accelerate and maximise dividend returns through robust investigation of the affairs of the bankrupt, to successfully realise assets and overturn prior transactions, regular reviews undertaken of internal processes to ensure efficient and effective case progression and control of the costs of Grant Thornton and any third parties involved in cases
  • Optimize operations – we support clients to enhance operational efficiencies, in particular we advise on investment in IT to enhance process efficiencies
  • Portfolio management and management information – throughout the process we create and deliver management information to assess performance and value of portfolio. In addition to the production of regular and client specific MI and KPIs 
  • Dividend collection – we will lodge all claims on behalf of the client at the correct value in all cases where a dividend is anticipated. As well as collect, verify and forward to the client, via BACs, all dividends received

How we can help you

Creditor groups including local authorities, financial services creditors and utility companies are increasingly using insolvency proceedings against individuals who have the income or assets to pay their creditors, but who choose not to pay. The effective and targeted use of insolvency proceedings has led to a significant increase in recovery success for these creditors where other attempts to elicit payment have failed.

In the circumstances where a trustee is appointed over a bankruptcy, many creditors take an active role in the appointment of a trustee whose professionalism and expertise they trust since the effectiveness of the trustee is critical to the maximisation of realisation and distribution of the debtor's assets.

Our team of experts have built a reputation on service excellence, offering technical expertise, high quality advice and guidance to ensure insolvent estates are managed in a cost-effective way.

Partner Nick Wood

+44 (0)20 7728 2426

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