Skip to main content
Insolvency Practitioners

INSOLVENCY PRACTITIONERS HAVE AN OBLIGATION TO MAXIMISE THE RETURN TO CREDITORS THROUGH THE REALISATION OF CERTAIN ASSETS.

In cases of an Individual Voluntary Arrangement (‘IVA’) and bankruptcy, an Insolvency Practitioner (‘IP’) has an obligation to maximise the return to creditors through the realisation of certain assets. But what happens if they don’t actually know that those assets exist?

Our bespoke service helps IPs meet their obligations to maximise realisations by investigating whether a debtor has ever been the victim of a financial mis-sell and, if so, bringing a claim for compensation against the perpetrator. Our comprehensive investigation process can identify potential compensation claims that even the debtor did not know existed!

Any compensation arising from such claims are deemed assets within the insolvency and, as the leading financial litigation specialists in the UK, we are guaranteed to obtain the highest possible returns possible.

So if you are an IP and would like to utilise our services to identify assets within an IVA or bankruptcy, please get in touch today.

INVESTIGATION

Taking a detailed forensic approach, Liberay Legal will assess and analyse debtor information provided by the IP and begin a thorough investigation into the financial affairs of the insolvent individual. The purpose of the investigation is to identify areas where financial mis-selling has occurred as such claims could result in compensation for the benefit of creditors.

Most firms operating in this area will base their investigation solely on information provided by the IP. Here at Liberay Legal, we go the extra mile, using our expert forensics team to find agreements which were settled long before the insolvency as these are still deemed assets within the insolvency.

AREAS OF CLAIMS PURSUED

There is no cap on which areas of claim Liberay Legal are willing to investigate. We are open to the IP nominating specific areas of claim, however our current comprehensive investigation process includes but is not limited to the following areas of claim:

  • PPI for undisclosed commissions (Plevin)
  • PCP/HP Car Finance
  • Housing Disrepair Claims
  • Packaged Bank Account Claims
  • Tax Claims

WORKING WITH INSOLVENCY PRACTITIONERS

Liberay Legal work with a large number of IPs in their capacity of Trustee in Bankruptcy or Supervisor in an IVA. This ranges from Trustees sending a couple of bankruptcy cases a month to large IVA firms seeking investigations into the affairs of hundreds of debtors each month.

As a result, our forensics team are reviewing the financial affairs and finance agreements of hundreds of debtors every month. With an expert understanding of the role and functions of an IP, the vulnerability of a debtor and the regulatory infrastructure in which an IP operates, we are the market leaders in this field.

FEES

Our work is carried out on a no win no fee basis at typical industry rates. We may charge a fee for any pre-litigation work including a fixed fee to cover the investigation process.

ARE YOU INVESTIGATING TO IDENTIFY CLAIMS OR PURSUE THEM?

Both. We carry out the investigation process and once we have identified the relevant areas of claim we transfer these to our litigation department to pursue. There are no intermediaries. Keeping everything internal ensures that the entire process is as quick and efficient as possible.

WHAT INFORMATION WILL YOU NEED TO BEGIN YOUR INVESTIGATION PROCESS?

This can vary upon the type of claim but a starting point is usually the debtor’s personal details, a schedule of creditors and proof of your appointment as trustee/supervisor of the insolvency.

WHAT DOES YOUR INVESTIGATION PROCESS ENTAIL?

This can be incredibly detailed depending on the debtor’s personal circumstances, but we will leave no stone unturned in our commitment to finding applicable areas of realisation. Whether it is historic credit reports or seeking full disclosures from banks, our sophisticated team will identify compensation claims the debtor didn’t even realise existed.

WHAT DOES YOUR LEGAL PROCESS ENTAIL?

We always try to work collaboratively and cooperatively with Defendants to achieve settlement on the best terms as quickly as possible. If, however, the Defendant is unwilling to act reasonably, we will not hesitate to litigate in order to secure the compensation your IVA client is entitled to.

WHAT IF THERE IS NOTHING TO REALISE?

If there is nothing to realise, the investigatory fee has not been wasted. We will retain the relevant data, unless instructed otherwise or the IP vacates office, and mine the data at regular junctures for new areas of claim.

CAN THE IP MAKE THE CLAIM THEMSELVES?

Litigation can only be carried out by an SRA regulated firm such as Liberay Legal. Our focused, tested and proven approach has benefitted a number of IPs in maximising returns to creditors.

WILL THE IP RECEIVE UPDATES?

Liberay take instruction from the IP and it is our responsibility to keep them informed at every step of the process.

Once we conclude our initial investigation process, the IP will receive a detailed report listing all claims which can be pursued and their estimated quantum so that the IP can include this information in the nest report to creditors. If any additional areas of claim are discovered at a later date, an updated report will be issued.

Once the legal team take over, a monthly report will be issued allowing the IP to track all progress.

Our friendly team will also always be on hand to address any case specific queries. We have a bespoke Case Management System that allows us to report to you on the status of every one of your cases with a click of a button

HOW SOON WILL COMPENSATION BE RECEIVED INTO THE IVA/BANKRUPTCY?

This can vary. Packaged bank accounts can be settled in only a few weeks from us taking instruction, while some claims for PPI under the Plevin ruling and car finance can take over 12 months to realise.

The prospects of success, estimated quantum and likely timescales for realisation will be detailed in every report so that the IP can prepare and budget for any realisations and update creditors accordingly. One thing is for sure, it is our aim to under promise, over deliver, not the other way round! Any timescales for realisation will be realistic and conservative.

WHAT SUPPORT WILL THE IP RECEIVE FROM LIBERAY?

We strongly believe in Liberay Legal adding value to your proposition to creditors and not deflecting the IP firm from their core services. Upon entering an agreement with us, we will design a bespoke process which accommodates the IP’s process, systems and general method of working.

Whether it is requesting information or witness statements from your clients in relation to the case, explaining the litigation process or preparing them for trial, our team will provide all the support and resource required to secure settlement and win the case. Working with Liberay Legal should always add value and never be a drain on the IP’s resource and we are fully committed to offering maximum support so that an IP can continue with their day-to-day activities.

WHAT SUCCESS IS BEING EXPERIENCED BY OTHER IP’S?

We have a strong reputation in the industry for achieving great returns for our IP clients and their creditors. IPs that are not currently utilising our services are missing out on a fantastic opportunity to secure better returns for the IVA and, in turn, failing to act in the best interests of their clients.

WHAT IS THE PROCESS FOR GETTING STARTED?

For a no obligation chat and a detailed explanation on this service, please get in touch with us today by emailing ipservices@liberaylegal.co.uk

GET IN TOUCH

Fill in the form and our team will get back to you within 2 working days.

Call us

0333 011 5105*
*9am-5pm (Mon-Fri)






    PPI PlevinMis-sold Car FinanceMis-sold Packaged Bank AccountMis-sold Business EnergyMis-sold InvestmentMis-sold PensionGDPRHousing Disrepair

    WE ARE NO WIN NO FEE. IF YOU SUCCEED, WE SUCCEED. WE DON’T GET PAID UNLESS YOU GET PAID.

    SIMPLY OUTSTANDING! KEPT ME UPDATED THROUGHOUT AND DELIVERED A GREAT RESULT. HIGHLY RECOMMENDED

    Derek Watson

    THE TEAM AT LIBERAY ARE SPECIAL AND VERY DIFFERENT TO YOUR TYPICAL LAWYERS. THEY GAVE MY HUSBAND AND I DOWN TO EARTH LEGAL ADVICE THAT WE COULD ACTUALLY UNDERSTAND AND WE WERE DELIGHTED WITH THE OUTCOME. THANK YOU GUYS!

    Susan Holme

    INCREDIBLY KNOWLEDGEABLE AND VERY FAST-COULD NOT ASK FOR MORE

    David Atkins

    I HONESTLY CAN'T THANK JULIE ENOUGH…SHE DIDN'T STOP UNTIL IT WAS SORTED AND NOW MY SHABBY WORN DOWN HOUSE CAN NOW BE MADE INTO A HOME…I’VE BEEN LIVING WITH THESE CONDITIONS FOR ALMOST 3 YEARS AND I'M NOW SO RELIEVED THAT I’VE HAD JULIE HERE TO HELP ME TO GET IT ALL SORTED. THANK YOU JULIE ADAMS XX

    Rebecca Brooks

    AFTER EXPERIENCING SIGNIFICANT WATER INGRESS AND DAMP/MOULD FOR WELL OVER 6 YEARS AND WITH THE HOUSING ASSOCIATION FOBBING ME OFF FOR ALL OF THOSE YEARS, I FINALLY DECIDED TO TAKE MATTERS FURTHER. I INSTRUCTED JULIE ADAMS OF LIBERAY TO DEAL WITH MY DISREPAIR CLAIM. NOT ONLY WAS SHE EXTREMELY PROFESSIONAL BUT SHE WAS FRIENDLY AND APPROACHABLE TOO. SHE ALWAYS GAVE ME HER HELP AND ADVICE WHEN I NEEDED IT. I CAN FINALLY SAY THE MATTER IS NOW SORTED AND I AM SO GRATEFUL FOR HER HELP. I HONESTLY THINK I WOULD HAVE BEEN FOBBED OFF FOR MANY MORE YEARS IF I HAD NOT INSTRUCTED LIBERAY TO DEAL WITH MY CLAIM. I WOULD HIGHLY RECOMMEND JULIE ADAMS AND LIBERAY.

    Lisa Edge

    I CAN’T THANK LIBERAY LEGAL ENOUGH FOR EVERYTHING THEY HAVE DONE FOR ME. I WOULD HIGHLY RECOMMEND THEM TO ANYONE WHO HAS ISSUES WITH THEIR LANDLORD.

    Celeste Smith