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Tom specialises in all areas of corporate recovery and insolvency. He advises insolvency practitioners, banks, companies, individuals and creditors on a variety of insolvency-related matters, at a local, national and cross border level.
He has particular experience in contentious insolvency, acting for insolvency practitioners in claims against third parties brought under the Insolvency Act 1986.
Tom regularly provides internal training to various teams at the firm and also presents seminars on behalf of R3 in the Yorkshire area.
We are delighted to have provided support on this deal and helped achieve a going concern sale.”
While the decision to approve the challenge to the loan is not uncommon, the decision of the court to go to the extent of transferring ownership of an entire company to a Trustee in Bankruptcy appears to be unprecedented.
"Such a decision highlights the extremely wide-ranging and effective powers that a Trustee in Bankruptcy has, specifically in terms of the capability to undo transactions and trace funds which are paid out by individuals before they do become bankrupt.
"It is undoubtedly a timely reminder to anyone who may fall into financial difficulty, and any indeed creditor considering pursuing bankruptcy proceedings, that Trustees in Bankruptcy have the ability to put finances under significant scrutiny and take steps to acquire any monies possible."
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