Insolvency and Debt Recovery

At OGR Stock Denton we have a wealth of experience advising both individuals and businesses on all aspects of bankruptcy, insolvency and debt recovery (both disputed and undisputed)

Our team of litigators fully appreciate the urgency of dealing with these often complicated matters, in many cases to very tight deadlines, and strive to ensure the best possible outcome is achieved.

Whether you are an individual trying to recover a one-off debt or a company reduce debt on account, our dedicated team can work with you to walk you through the process, keeping you updated through each stage. We will always strive to achieve the best possible outcome for you and advise you on the best options available to you.

We will work to ensure that assets are protected; that reservation of title clauses are enforced and the best possible recovery is made.

We are also regularly instructed by Insolvency Practitioners to recover assets, equally we act for former directors and third parties in defending claims seeking to set aside prior transactions.

Our areas of expertise include:

  • Administrations
  • Liquidations
  • Bankruptcy
  • Individual Voluntary Arrangements (IVAs)
  • Company Voluntary Arrangements (CVAs)
  • Creditors’ rights on insolvency
  • Directors’ disqualification
  • Misfeasance
  • Debt recovery for unpaid bills, contract breach or defective goods/works
  • Landlords’ rights on insolvency

We can advise you throughout the various stages of proceedings including:

  • Issuing a letter before claim – Our fees range between £120 – £350 per hour, depending on the complexity of the claim. Disbursements would include £3 land registry fee which does not attract VAT. Process can take up to 6 weeks.
  • Issuing court proceedings to obtain judgement – Our fees range between £120 – £350 per hour, depending on the complexity of the claim. Disbursements would usually include: court fee for 4.5% of the debt. Process can take up to 6 weeks.
  • Bankruptcy Proceedings (Statutory demand) – Our fees range between £120 – £350 per hour, depending on the complexity of proceedings. Disbursements include service of the statutory demand  which costs between £100-£300 depending upon the number of attempts required to affect service, court fee of £280 and petition deposit fee of £990, service of the petition which costs between £100-£300 depending upon the number of attempts required to affect service, advertising the petition online which costs between £100-£200 plus VAT, counsel’s fees for the hearing which will range from £300 – 750. The process can take anywhere between 6 – 12months including any substantive court hearings. VAT may be payable on all disbursements save for the Court fees and deposit.
  • Winding up petition – Our fees range between £120-£350 per hour, depending on the complexity of proceedings. This process can take between 6 – 12months including any substantive court hearings. Disbursements include service of the statutory demand  which costs between £100-£300 depending upon the number of attempts required to affect service, court fee of £280 and petition deposit fee of £990, service of the petition which costs between £100-£300 depending upon the number of attempts required to affect service, advertising the petition online which costs between £100-£200 plus VAT, counsel’s fees for the hearing which will range from £300 – 750. The process can take anywhere between 6 – 12months including any substantive court hearings. VAT may be payable on all disbursements save for the Court fees and deposit.

[Please note that the fees listed above is for uncontested debt claims, i.e. neither party opposes the debt and in therefore is an non-contentious matter. The examples provided above are based on undisputed debts, where court proceedings are issued relatively quickly and we can usually obtain judgement within the time estimates provided above.]

For further information about the full range of our insolvency services, including all contested debt claims, please speak to a member of our Litigation team who will be more than happy to assist you.