AB Insolvency Limited – Company Information
Services for Insolvency Practitioners:
- We buy claims in insolvent estates and pursue them as a litigant in person, thereby taking the risk and any disproportionate costs out of the estate and increasing the chance of a return to creditors.
- Specialist knowledge in both personal and corporate insolvencies.
- Will consider claims which have previously not progressed for whatever reason.
- Will purchase claims outright to enable closure of the case or as an assignment with realisations split between us and the insolvent estate.
- Bespoke assignment terms tailored to each individual claim and estate.
- We will consider buying debt in order to assist with your appointment.
Services for Creditors:
- We will consider buying your corporate debt, and where necessary, the debt of other creditors, in order to replace an Insolvency Practitioner where you have good reason to believe that he/she is not progressing or not pursuing claims in an insolvent estate.
Claims:
Claims considered include, but not limited to:
- Breach of Duty
- Wrong Trading
- Fraudulent Trading
- Antecedent Transactions such as transactions at an undervalue, preferences, transactions defrauding creditors.
- Extortionate credit transactions
- Illegal Dividends
- Director’s overdrawn loan accounts
- Director’s personal liability for prohibited names
- Corporate Debt Claims
Claims are pursued in-house by a director who has been an acting as an Insolvency Litigation specialist for over 10 years. He is supported by a number of individuals who have expert knowledge in their chosen fields.
What claims can be assigned?
- It has always been possible for an Insolvency Practitioner to assign any claim which is vested in an insolvent estate. A cause of action is an asset just like any tangible asset. However, since 1 October 2015, Insolvency Practitioners can now also assign claims which, by their nature, were issued by them, such as wrongful/fraudulent trading, transactions at an undervalue, preferences and extortionate credit transaction claims.
Why should I assign a claim to AB Insolvency Limited?
- The reforms brought in for litigation (the Jackson Reforms) were implemented for Insolvency litigation from April 2016. The impact of these reforms means it is no longer possible to recover any success fee (CFA uplift) from the losing party. Neither can the winner recover any After the Event (ATE) insurance premium. This means there are now strong commercial reasons to assign a claim which may not have otherwise been pursued or progressed when all the other costs of litigation are factored in.
- To enable the case to be closed whilst ensuring value is obtained for claims.
- For cases which have become stagnant or are no longer commercial to be pursued in the traditional manner.
AB Insolvency Limited is run by an experienced insolvency litigator who is able to mitigate the costs and uncertainty of litigation to the estate.
