Insolvency services
Comprehensive support for directors and businesses facing financial challenges
Financial difficulties can be overwhelming, but with the right legal support, you can navigate insolvency challenges with confidence. SP Legal Solutions provides clear, practical advice to directors and businesses, covering all aspects of corporate and personal insolvency from early-stage restructuring advice to formal proceedings.
How we help
Director assistance
Advising directors on their duties and advising on personal liability during financial distress.
Business restructuring
Strategic advice on restructuring options to save viable businesses.
Creditor negotiations
Managing communications and negotiating settlements with creditors in often pressurised situations.
Insolvency proceedings
Guiding companies through administration, liquidation, and CVA processes while working closely with third party insolvency practitioners.
Guidance for directors
Understanding your duties
When a company faces insolvency, directors' duties generally shift from shareholders to creditors. We help you understand and comply with these obligations to avoid personal liability.
Protecting personal assets
We provide robust advice on personal guarantees, overdrawn director loan accounts, and defending claims from insolvency practitioners.
Exploring options
We assess your company's financial position and outline all available options, from turnaround strategies to formal closure.
Business restructuring
Formal arrangements
We work closely with you to establish whether your business needs to enter into a formal insolvency process such as administration, liquidation or a company voluntary arrangement.
Informal arrangements
Negotiating time-to-pay agreements with creditors and key suppliers without entering formal insolvency.