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

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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.

"They know their stuff from a pragmatic and legal point of view. They are extremely strong on client service and have a fantastic reputation within the asset-based lending market."

Chambers & Partners, 2020

"The group is hugely capable across the knowledge spectrum with practical and cost effective advice that is given in an easily digestible form and a timely manner."

Legal 500, 2020

“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.

See our latest coronavirus updates before visiting our offices

- Gatwick
- Glasgow
- Leeds
- London

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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.

Pensions And Furloughing

07 / 04 / 20 Read More

Morrisons Wins Data Breach Case In The Supreme Court

01 / 04 / 20 Read More

Irwin Mitchell Named Law Firm Of The Year At LexisNexis Awards

12 / 03 / 20 Read More

Irwin Mitchell Advises On Disposal Of Flight Calibration Services Ltd To Literacy Capital Plc

12 / 03 / 20 Read More

Manchester Legal Team Advises Firesprite On Significant Games Deal

10 / 03 / 20 Read More

Administrators Appointed To House Of Holland As Fashion House Looks To Secure New Investment

05 / 03 / 20 Read More

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