At Cavendish IP Solutions we pride ourselves on the range of flexible services we can provide to Insolvency Practitioners:
We will fund or take assignment of litigation in formal insolvency situations, providing the cash to enable Insolvency Practitioners to pursue actions to recover money for the creditors otherwise be made impossible due to a lack of funds.
We will fund or take assignment of litigation as part of an Individual Voluntary Arrangement or Company Voluntary Arrangement, providing details of our offer for the consideration of creditors in the nominee’s report. This enables the IP to provide a degree of certainty to the creditors and takes the cost of litigation out of the arrangement and places control of the litigation into the hands of the Insolvency Practitioner out of the directors’ control leaving them to fulfil the other terms of the arrangement.
We will take assignments of non-consumer debt in insolvency situations such as overdrawn directors’ loan accounts and outstanding bad debts. We will also purchase debts where periodic payments have been agreed.
We will take assignment of creditors’ claims in section 216 IA or section 15 CDDA situations where there may be personal liability on the part of directors. We will pay The Insolvency Practitioners’ reasonable time costs for any work in these situations that may require their assistance.
We will take assignment of assets that have protracted realisations such as charging orders over bankrupts properties or an interest in properties where the interest is subject to dispute. We will also look at properties where the Insolvency Practitioner may be considering disclaimer. We will assess if there is any value to be extracted from the asset.
Where you have successfully claimed against the directors or other debtors of an insolvency only to have the debtor paying by instalments resulting in the case being kept open for years, we will purchase the right to collect these payments going forward, for any amount, regardless of security, paying a lump sum to you so that the case can be closed and you can concentrate on new cases and free up valuable staff time for more remunerative work.
Do you have a CFA in place? Perhaps you have already obtained ATE insurance? If so Cavendish IP Solutions can fill those funding gaps that remain. We can provide flexible funding that will meet your needs in any litigation situation.
We will take assignment of assets that an Insolvency Practitioner may have to realise under other forms of appointment outside of formal insolvency such as: Confiscation Orders issued under The Proceeds of Crime Act or appointments as a Court Appointed Receiver.