Insolvent Partnerships

What We Do

Our experienced team of professionals can advise and act in any kind of partnership insolvency matter. We have expertise in helping LLPs and traditional partnerships in a range of difficult situations, including:

Financial distress
Creditor pressure (including the threat of winding up the business)
Tax due to HMRC
No succession
Structuring an orderly wind down of the business
Lack of indemnity insurance
Death of a partner
Personal bankruptcy (or debt problems) of a partner

We have specialist expertise with insolvency situations in the professional services and financial services sectors, particularly involving: accountants, architects, financial advisors, mortgage brokers, solicitors, Special Purpose Vehicles (SPVs) and stockbrokers.

How Irwin Mitchell Can Help You

Finding the right way forward can be difficult when it comes to the insolvency of a partnership. More than one alternative might be open to you, so it’s important to get independent advice about your options.

We will tailor a rescue or insolvency package that meets the best interests of all partners and stakeholders. Our team negotiate directly with banks, HMRC and other creditors, and work hard to create agreeable solutions for all sides.

Throughout the process, we’ll provide practical commercial advice to help you and your partners find the best route to recovery, or the least painful way of winding down the business. Where appropriate we can provide advice on different solutions, such as:

Administration
Individual and Partnership Voluntary Arrangements
Sale of the business and/or assets (including work in progress)
Solvent winding up
Insolvent liquidation

Recent Partnership Insolvency Deals

Restructuring a firm of stockbrokers following the withdrawal of its credit line. We negotiated with the landlord, Bloomberg, the bank and various finance houses, resulting in the successful restructure of the business and the introduction of a new investor and credit line.

Contact our Insolvent Partnerships lawyers - 0808 271 2602

Looking for someone specific?

Or visit the Insolvent Partnerships team page.

Key Contact

Andrew Walker

Partner

Tel. +44 (0)370 900 2179

Mob. +44 (0)770 352 5419

andrew.walker@irwinmitchell.com

View Profile

Testimonials & Client Feedback

We truly value the feedback we receive from both our clients and legal accreditation societies, such as The Legal 500 and Chambers & Partners.

"The firm has a personal yet professional approach," adding that "they are a shoulder to lean on."

Chambers & Partners, 2019

Irwin Mitchell "never provide anything less than excellent advice" utilising "great technical knowledge paired with a good dose of commercial reality".

Legal 500, 2019

“You have done sterling work on our behalf for which we thank you. I am already recommending you should anyone be in need of your services.”

MD of regional property agent

Awards & Accreditations

We’re proud of the recognition we’ve received for our business legal work. For a list of awards and accreditations, please visit our awards page.

We Work Nationally

We have offices in major cities throughout the UK and our lawyers can arrange to visit you or your business in person if necessary. We also have international capability, with global links to other legal specialists.

- Gatwick
- Glasgow
- Leeds
- London

Enter your postcode to find your nearest office.

Business News

Our lawyers are regularly asked to provide expert insight, advice and analysis for the national media. Take a look at the stories below to see what we’re saying, as well as some of the recent deals we have completed for our clients here in the UK and abroad.

UK's Manufacturing Sector To Be Most Disrupted Following Brexit

30 / 09 / 19 Read More

HS2 Rail Link Review Called By Government

21 / 08 / 19 Read More

Brexit And US Trade Deals

14 / 08 / 19 Read More

Property Developer Purchases Office Building In York

13 / 08 / 19 Read More

M&A Activity Set To Remain High In Waste Management Sector

08 / 08 / 19 Read More

Alzheimer's Testing Specialist Secures Investment from NPIF Maven Equity Finance

02 / 08 / 19 Read More

Request A Callback

Enter you details below and we'll call you back, at a time of your choice

Your name*

Your phone number*

Your Email*

Your enquiry*

Preferred date*

Today

Tomorrow

Preferred time*

This data will only be used by Irwin Mitchell for processing your query and for no other purpose.