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Insolvency Statistics Double At The Start Of 2022

Reasons to choose Wilson Browne

Let’s offer some reassurance, ‘Insolvency’ is not a bad word: it opens the doors for negotiation, compromise, and settlement.

However, if the recent stats from the Government are anything to go by you should arm yourself with a good insolvency lawyer should you need them anytime in the future. According to the statistics the number of registered company insolvencies in January 2022 was 1,560, more than double the number registered for January 2021 (758). The number of insolvencies is likely to increase still further with the moratorium on the use of statutory demands and the presentation of winding up petitions potentially being lifted on 31st March 2022.

Creditors Voluntary Liquidations (CVLs) were also 34% higher than in January of the previous year at 1358.

If you find yourself in an insolvency situation the team at Wilson Browne Solicitors act for individuals of all kinds; Directors, Entrepreneurs, Sole Practitioners…just about anyone that needs specialist help and advice. With a knack for seeing all sides of an insolvency situation and an inclination for producing effective and creative solutions, the team provide quick, clear and commercial advice to Company Directors, Insolvency Practitioners, Creditors and Debtors alike.

Some of the more common ways we help clients is:

  • Avoiding or reducing personal liability
  • Defending claims from Office Holders such as transactions at undervalue, wrongful trading and transactions to the detriment of the crown etc.
  • Disqualification proceedings
  • Employment law and insolvency
  • The issue of winding-up petitions
  • Defending winding-up petitions

We are recognised experts in the funding of cases such as these under Conditional Fee (no win/no fee) Agreements and with delegated authority from Temple Legal Protection Limited they can offer a no cost risk to Insolvency Practitioners on unsuccessful cases.

With offices across Northamptonshire and Leicestershire in Northampton, Kettering, Corby, Higham Ferrers, Wellingborough and Leicester we can meet you at a location convenient to you.

The first chat is always free so call the Commercial Litigation Team today on 0800 088 6004.

David Farmer

Posted:

David Farmer

Partner

David is a Solicitor in the Commercial Litigation Team and advises on a variety of civil and commercial disputes including commercial property, (focusing on dilapidations and forfeiture disputes), debt recovery and both personal and corporate insolvency, breach of contract, shareholder disputes, professional negligence claims.