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Insolvency negligence claims

Making an insolvency negligence compensation claim on a No Win, No Fee basis

Specialist professional negligence solicitor, Emma Slade, takes a brief look at insolvency negligence, and claims against insolvency practitioners and insolvency lawyers.

Insolvency practitioners and other professionals involved in insolvency owe a legal duty of care in relation to their actions and advice and are required to act with reasonable skill and care.

For instance, they have an obligation to take reasonable steps to obtain the best price for assets that need to be realised. Other examples include errors that are made in relation to the distribution of assets, mistakes in preparing financial status reports, and failure to pursue legal claims.

When the duty of care is breached then the party suffering loss is entitled to bring a claim for compensation. However, the loss claimed must clearly flow directly from the insolvency practitioner’s breach, and not be due to some other cause outside the control of the professional.

It is often prudent to obtain an independent report from an expert witness on the conduct of the insolvency practitioner against whom the claim is being made.

Insolvency negligence claims should be commenced promptly. The primary limitation period is six years from when the cause of action accrued, or three years from the claimant’s date of knowledge. Identifying the limitation date isn’t always straightforward, so specialist legal advice should therefore be taken from independent lawyers.

We deal with insolvency negligence claims throughout the whole of England and Wales, both corporate and individual, where the financial loss arising from a breach of duty amounts to a sum that is greater than £10,000.

Why you should use us

We have been independently ranked in the top 3 solicitors in the UK dealing with professional negligence claims by the legal review website, ReviewSolicitors*.

We also offer a free case assessment service and No Win, No Fee funding.

Just call us on 0333 888 0403 or email details of your claim to [email protected] and we will be happy to provide you with an assessment of your case free of charge, and to consider its suitability for No Win, No Fee funding.

 

*www.reviewsolicitors.co.uk September 2024.

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This website www.proneg.co.uk has been in operation for more than 20 years, making it one of the longest established professional negligence resources available on the internet.

It is run by Slee Blackwell Solicitors LLP, an award-winning firm of solicitors specialising in professional negligence law. We have been awarded Lexcel accreditation by The Law Society for excellence in client care and the firm is included in the independent guide to the legal profession, The Legal 500.

We exclusively represent claimants and provide a nationwide service throughout England and Wales. We are usually able to offer No Win, No Fee funding where the prospects of success are good, and the value of the compensation claim exceeds £25,000.

A member of our specialist team will be happy to provide you with a free assessment of your case. Simply contact us by phone or email.

Call Free - 0333 888 0403