What do we mean by insolvency law?
Insolvency law and business recovery are the part of company law that deals with businesses that have gone, or are about to go, bust. Directors must appoint an administrator or liquidator once they believe that a business cannot meet its financial obligations. In practice it is not easy to define when this occurs, and as a result a business can trade whilst technically insolvent.
Equally, if you are trading with a business that is not paying its invoices, or worse one of your customers or suppliers has appointed an administrator or liquidator, you may want advice how to best deal with that in order to protect your position.
Potentially you are a business in financial difficulties, but essentially a good business going through a temporary issue that needs practical advice on business recovery options. For these and other legal issues you won’t want to spend a fortune, but you will want great advice.