If an insolvency case is particularly complex or contentious, our Forensic Insolvency Recovery Service (FIRS) team will take the lead.
A dedicated team of insolvency and forensic specialists with considerable experience of controversial cases, FIRS comprises insolvency practitioners, solicitors, enquiry agents and counsel.
They will assess, investigate and pursue insolvency related claims — particularly corporate insolvency — in an effective and cost-efficient manner.
Using a special cost structure and conditional fee agreements, the FIRS team ensures that the funding requirement for investigational cases is kept to a minimum.
When is forensic investigation needed?
- If directors and other parties could have contributed to the collapse through their negligence, misconduct or misappropriation of company assets, to the detriment of creditors
- Where rogue directors routinely put companies into liquidation, ensuring that barely sufficient assets remain to pay the costs of the liquidation, delaying recovery action
- Where, although adequate powers and remedies are available to liquidators to pursue claims, the associated costs of investigation and litigation have created a climate where the powers are rarely used effectively
- Where some claims are not pursued because not all liquidators have the inclination, resources or experience to investigate and pursue them.