Covid 19: Our website and phone lines are operating as normal and our teams are on hand to deal with all enquiries. Meetings can be conducted via phone & video conferencing.

Creditors’ Rights On Insolvency

If a creditor is owed money and pursues a claim against a company which it does not have the means to pay, that may result in a company entering an insolvency process. 

This may happen because the creditor pursues the debt using a winding up petition, or the company may seek to enter into an arrangement with its creditors,  such as a voluntary arrangement, or decide that it needs to appoint an administrator.

Whilst all of these are different processes and the outcome for the company will be different in each case, generally it is true that once a company enters into any sort of insolvency process, that the creditor's chances of being paid are substantially reduced.

Very often a creditor is prevented from pursuing  his claim in isolation and simply becomes one of a number of unsecured creditors who will have to await the outcome of the insolvency process to see what prospect they have of being paid.

Get in Touch

For expert advice on creditors' rights on insolvency, contact us today on 0800 083 0815 or fill in our online contact form.

Corporate News

Quasi Partnerships – recent developments

Read More

Clough & Willis’ corporate & commercial department acts for Tribo Rail UK Limited

Read More

Clough & Willis advises JamJar Investments on two investment deals

Read More

Read All Corporate News

What Our Clients Say

Many thanks for the help, advice and guidance

Mr Martindale

I have had need to use other solicitors - but was unhappy with their performance. I would always choose Clough & Willis in the future

Ms Ball

I found Fiona very clear and to have a very pleasant manners, I felt she had a personal interest.

Dr Stein

I would like to take the opportunity to say Fiona Gaskell was more than helpful and went the extra mile during my disputed land situation. She remained professional but allowed personable approach. Thank you.

Ms J Hall

May I thank you for a first class service, excellent guidance and the support I received from you was wonderful and helped me to cope with a very difficult situation.

Mrs J Atkinson

Fiona Gaskell is a true professional along with her colleagues, many thanks for all your hard work.

Mr Dixon

Excellent service, more than we hoped for

Mr Andrew

Read all testimonials