Contentious Insolvency and Asset Recovery
In some circumstances, fraud and misappropriation of assets occur alongside, or cause, an insolvency, and legal proceedings are needed to make recoveries for the insolvent estate. This is where contentious insolvency comes in. Once an entity or individual is in a formal insolvency procedure, there are numerous legal routes available to the appointed insolvency practitioner to look back over previous transactions and seek to reverse them or otherwise compensate the insolvent estate for loss sustained.
Investigations by Insolvency Practitioners
An Insolvency Practitioner appointed in a formal insolvency process will usually carry out an initial investigation and go through a process of gathering information and evidence to understand what happened and the effect on the insolvent estate. Legal advice may be required before pursuing claims. Such matters may be settled without the need for legal proceedings, whilst in other cases there may be a full court process including a trial before a judge.
