Insolvency and corporate recovery in Wales

Blake Morgan LLP

Headed by Paul CaldicottBlake Morgan LLP's business support and insolvency team receives a steady pipeline of instructions from insolvency practitioners (IPs) in the region, many of which have complex contentious elements, involving inter alia, tracing claims and misfeasance claims relating to tax avoidance schemes. The team also continues to advise on some complex personal insolvency matters including recently successfully arguing on behalf of the trustees in bankruptcy that the Deed of Trust a bankrupt entered into with his wife transferring his interest in their marital home should be unwound, since it was established when he was bankrupt and not, as was argued, several years prior to the bankruptcy. On the creditor front, the firm also regularly advises numerous banks undertaking security review work, evaluation of enforcement and recovery options.

Practice head(s):

Paul Caldicott

Other key lawyers:

Sophia Farmer; Roisin Gallop

Testimonials

‘In difficult working conditions the team was always contactable and approachable for ideas.’

‘Sophia Farmer and Paul Caldicott were always available to discuss matters and how best to take them forward.’

Key clients

Butcher Woods Limited

Butcher Woods Limited – Juno Moneta Group Limited (in Administration)

Asertis Limited

Smith & Williamson LLP

Begbies Traynor

Baker Tilly

Work highlights

  • Acting on behalf of the joint administrators to recover circa. £5m from the former directors and associates of the debtor company and two of its subsidiaries.
  • Acted for the administrators in respect of the sale of the shares it held in Rainbird & Co IFA Limited for the sum of £650,000. The transaction was subject to the FCA approving the transfer of shares.
  • Advised the Joint Trustees in bankruptcy on the validity of a Deed of Trust a bankrupt entered with his wife to transfer his interest in their marital home to her at a time when he was insolvent and facing bankruptcy, and pursued the claim through litigation.

Capital Law Limited

Led by 'first-rate technicianPhilip JonesCapital Law Limited has developed a strong reputation in the market, and is able to offer 'a quality of service for insolvency and corporate recovery work which is comparable to that found in the larger cities in England'. Jones is 'excellent at identifying an opponent's weak spots and exploiting them' and regularly takes the lead on the firm's work for IPs/liquidators, often necessitating a contentious approach as a result of alleged fraudulent behaviour by the debtor. Maria Coggins has more of a transactional focus to her practice and regularly handles distressed M&A and corporate restructuring mandates.

Practice head(s):

Philip Jones

Other key lawyers:

Maria Coggins; Duncan Macintosh; Guto Llewelyn; Mark Dowds; Stacey Whittle

Testimonials

‘Capital Law is one of the few firms in Wales which offers a quality of service for insolvency and corporate recovery work which is comparable to that found in the larger cities in England.’

‘The team always take a pragmatic and cost-effective approach to both funding and litigation, focused on a satisfactory recovery for the client.’

‘The team is experienced in insolvency and litigation matters and a pleasure to work with.’

‘Philip Jones combines an excellent technical knowledge with fantastic client management skills.’

‘Philip Jones is a first-rate tactician in navigating the deep waters of insolvency law. Excellent at identifying an opponent’s weak spots and exploiting them.’

‘I have a lot of respect for Mark Dowds who helped us immensely on a difficult case.’

Key clients

Menzies LLP

Deloitte LLP

Grant Thornton

Development Bank of Wales

Brian and Dolly Pickering

Quantuma Advisory Limited

Holland Shellfish International Limited

Work highlights

  • Advised the liquidators of Walsham Chalet Park Limited, in a high-profile £25m claim to recover substantial assets, after the former directors had ripped off thousands of unsecured creditors (mainly pensioners) who had been hoodwinked into investing in holiday homes.
  • Implemented a legal and tactical strategy to protect the assets of a major preference shareholder of Holland Shellfish.
  • Advising Cardiff Manufacturing Group following threats of historic claims arising out of transactions, to ensure minimum disruption to the business, and eradicating the risk of future claims.

Hugh James

Led by Alex Pay and able to draw upon the expertise of lawyers from across complementary practice areas, including litigation, banking and corporate/commercial, should the need arise, Hugh James provides a comprehensive service to debtors and creditors across a range of restructuring and formal insolvency matters. Leveraging strong ties with many local IPs, the firm is, however, perhaps best-known for its contentious insolvency expertise, an area that Pay is particularly strong.

Practice head(s):

Alex Pay

Key clients

Menzies LLP

Mazars LLP

Begbies Traynor LLP

Kennway Francis Ltd

TRI Advisory Ltd

BDO LLP

Quantuma Advisory Ltd

Work highlights

  • Representing the administrators in relation to a potential business interruption claim in the light of recent case of FCA V. Arch Insurance (UK) Limited & Ors [2021]
  • Seeking directions from the court in relation to liquidator’s entitlement to company assets.

JCP Solicitors

At JCP Solicitors, Sophie Thomas heads up the firm's recoveries and professional liability team which always goes 'the extra mile for their clients', including many fixed charge receivers on their recoveries work. 'Pragmatic and knowledgeable' associate David Owen has more of a conventional slant to his insolvency practice, with a particular focus on advice to office holders on contentious matters, including as it relates to misfeasance and undervalue claims. 

Practice head(s):

Sophie Thomas

Other key lawyers:

David Owen

Testimonials

The team always provides a prompt and excellent service.’

The team will always go the extra mile for their clients. They are extremely knowledgeable in the area and provide excellent value for money to their clients.’

Sophie Thomas always provides an excellent service.’

David Owen stands out for his knowledge in this area and his pragmatic stance taken on each case.’