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22nd February, 2022 by Nichola Constantinides
One of the primary objectives of an Insolvency Practitioner (“IP”) is to realise assets for the benefit of creditors and it is often necessary to commence proceedings pursuant to the Insolvency Act 1986 in order to maximise recoveries. However litigation costs money and funding can often be a sticky issue when deciding whether or not to commence Court proceedings especially when you take into account the risk that, if unsuccessful, the IP may become liable to pay the Respondent’s costs.
Possible funding options will be considered once potential claims have been identified. Although the appropriate (and available) funding options will depend upon the circumstances of the particular case they will usually include:
If you would like more information on any of the issues raised in this article, please contact our Insolvency and Corporate Recovery team:
Deborah Nigh | [javascript protected email address] | 01604 258033
Katie Summers | [javascript protected email address] | 01604 258018
Neena Jakhu | [javascript protected email address] | 01604 258083
Sarah Lee | [javascript protected email address] | 0161 259 0403
Carl Mifflin | [javascript protected email address] | 0116 2473577
The information on this site about legal matters is provided as a general guide only. Although we try to ensure that all of the information on this site is accurate and up to date, this cannot be guaranteed. The information on this site should not be relied upon or construed as constituting legal advice and Howes Percival LLP disclaims liability in relation to its use. You should seek appropriate legal advice before taking or refraining from taking any action.
To contact us, please fill out this form and we will get back in touch as soon as possible. Your personal data will be processed in accordance with our privacy policy which can be found here.