Creditors Debt Owed? Victim of Fraud?
The forensics of insolvency can lead to creditors obtaining unexpected but nevertheless welcome recoveries. There is no need to give up because you are the victim of an insolvency or a fraud as it does not have to be the end of the road.
OC Insolvency has an outstanding track record in achieving unexpected recoveries for creditors, even when the assets of companies or individuals have been distanced in an attempt to defeat or defraud creditors. We act for major creditors such as HRMC, trade creditors and solicitors.
Forensics applied to effect recoveries for creditors in insolvencies is not rocket science.
The overriding position that we at OC Insolvency would urge all creditors to consider when they fear they have lost from an insolvency is that fraud is not an uncommon reality in insolvency situations and it can be addressed. Regardless of the difficulties posed by Directors and Debtors engaged in potential misconduct that appears to have caused loss to creditors, assets cannot simply be made to completely disappear. There usually will be some sort of a trail and the even some of the best trail blazers cannot make it vanish.
However, there are challenges given a Liquidator or Trustee in Bankruptcy enters office as a stranger. Investigations are often hampered by uncooperative Directors or Debtors who may not always feel inclined to provide all of the information necessary to enable the insolvency to be investigated. This is of course to be somewhat expected and fortunately the insolvency legislation appears to recognise this, affording such powers to a Liquidator or Trustee in Bankruptcy that can enable reconstruction of the information and documentation required to ensure that such investigations can indeed be progressed. This includes enabling the Insolvency Practitioner to obtain information on an insolvent company or individual from its agents and professional advisers such as solicitors, bankers or accountants.
Once sufficient information has been obtained the fruits of these forensic investigations can often lead to recoveries for creditors from setting aside transactions undertaken by parties controlling the assets.
Our persistence, tenacity and approach has led to the recovery of millions of pound resulting from claims brought to recovery money for creditors.
Insolvencies do not have to result in significant cost. Many small cases can be investigated without incurring disproportionate cost. We will consider any case where you appear to have been a victim and suffered loss. Just get in touch with us to enable an assessment.