Single joint expert in insolvency case
Appointment Type: Single Joint Expert
Service Area: Insolvency
Litigation Type: Civil
Size of Case: £100,000 - £500,000
Appointed as a single joint expert by the liquidator and the company (together the claimants) and the director (the defendant) to conclude on the date upon which a company was insolvent, the extent to which the actions of the director may have contributed to the financial downturn of the company and the position of the director’s loan account at the date of insolvency.
Despite a lack of detailed financial information, we were able to conclude upon a period within which the company became insolvent. Following this conclusion, we were able to consider the actions of the director. We were able to confirm that, while the director had not misused company funds, he had prejudiced the creditors of the company by extracting funds to repay directors’ loans after the point at which the company was insolvent.
The case settled after our report was issued.