Legal Services

Insolvency

What we do

Expert legal guidance
when it matters most.

We advise insolvency practitioners, lenders, directors, shareholders, businesses, financial institutions and professional advisers across Northern Ireland. Our experienced restructuring and insolvency team advises on all aspects of corporate and personal insolvency and associated litigation, helping clients navigate financial distress, protect assets and achieve practical outcomes in complex and time-sensitive situations.

Our solicitors provide assistance throughout the full lifecycle of insolvency and restructuring matters, including pre-insolvency planning, business recovery strategies, administrations, liquidations, receiverships, company voluntary arrangements and bankruptcy. We regularly act for administrators, liquidators and receivers in relation to the disposal of business assets, debt recovery, investigations and the better realisation of security.

We also advise directors and shareholders on their duties and potential liabilities during periods of financial difficulty, including issues relating to governance, creditor claims and restructuring options. Acting alongside accountants, insolvency practitioners and financial institutions, we deliver outcome-focused and pragmatic advice tailored to the commercial realities facing our clients.

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Common questions

How do I know if a company is legally insolvent?

There is no statutory definition of insolvency, but a company will be at risk of insolvency if either it cannot pay its supplier debts, wages or taxes as they fall due, or on the total value of its liabilities exceed its realisable value.

Will a director be personally responsible for a company’s debts?

As a general rule – no, but company law imposes a number of statutory duties on every director and a breach of any of those duties and/or reckless or dishonest conduct can lead to personal liability; for example, where there has been fraudulent or wrongful trading.   Each case will be fact specific and require careful analysis.  In addition, directors often give personal guarantees giving a creditor the right to take personal action if a company fails to pay its debt, and HMRC have additional powers to seek personal recovery.

Is Insolvency law in Northern Ireland the same as in England and Wales?

Whilst it is very similar the law is not identical. Policy changes made to Insolvency law in England and Wales are generally followed here, but not immediately. An example of this are the substantial changes enacted in local legislation passed in June 2026, which will bring Northern Ireland more closely into line with reforms introduced in GB in 2015, but no commencement date has been set for almost all the provisions of the legislation. These changes are intended to modernise insolvency procedures, reduce unnecessary administrative burdens, improve outcomes for creditors and facilitate greater use of digital communication.

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