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Our Insolvency & Commercial Litigation Solicitors successfully help fight off claims of over £5 million against accountant client

We are well known for our insolvency and business recovery work. In this article, we feature a testimonial emphasising that we undertake a significant volume of heavyweight commercial litigation work, here with an exceptional result.

We are grateful to our accountant client for this testimonial for the work of our insolvency & commercial litigation solicitors in helping him fight off a lengthy claim. The action against our client went all the way to Trial, with our team representing him and his Accountancy practice, only for the Claimant to abandon its case against them both on the first day of Trial. As our client said:

“After 8 years of angst I am finally free of this ordeal of Defended High Court litigation and able to move on with my life.”

Our client takes up the story

I was (and remain) a Chartered Accountant. In that capacity, I provided professional accountancy services to a large company which became insolvent and ultimately entered administration followed by liquidation.

Before I knew it, I had been dragged into defending claims, totalling in excess of £5 million (plus legal costs), against me and my accountancy practice, along with other individuals and companies, brought by a litigation funder, for allegedly acting as a director of this large company, to which I had only provided professional accountancy services.

The effect of this looming doom on me since 2014, along with formal court proceedings over the last two years, has been huge and the litigation funder, though disinterested, should acknowledge there is nothing they can do to restore the damage they have already caused to me and my family by this ultimately doomed litigation.”

We were contacted by the accountant

“I got in touch with the team at N D & P Solicitors Ltd (“NDP”), on the recommendation of a business contact as soon as I received notice that a claim was going to be filed against me. I was impressed by NDP’s knowledge and responsiveness, and immediately felt that I had selected the right people to help me. They have been absolutely excellent in defending me and my practice. They reassured me that I had a strong defence to the insolvency claims right from the start of this ordeal.

As expected, there was a vast amount of work which needed to be completed by NDP as my solicitors, which at times felt daunting, especially when the firm acting for the litigation funder was a “magic circle” top 5 law firm and had a whole team of solicitors acting for them.

NDP and their excellent barrister, Martin Budworth of Kings Chambers, never cut corners in meeting the demands of this litigation, no matter how big the task or how tight the timeframe, which included:

  • arranging disclosure involving tens of thousands of documents,
  • reviewing other parties’ disclosures,
  • arranging expert witnesses,
  • responding to a barrage of aggressive extended emails/letters from the Claimant and its solicitors,
  • drafting numerous witness statements, and
  • organising detailed trial bundles.”

The Claimant dropped its claim 15 minutes before the trial

“The claim was ultimately listed for a two-week trial in October 2022. NDP and I did everything in our power to deter the Claimant and prepare for it. In hindsight, we could not have prepared better for this trial.

To our shock and amazement, 15 minutes before the two-week trial was due to commence, the Claimant’s barrister offered me and my practice a drop hands settlement. We had successfully defeated the claims. I was free of this ordeal!

NDP’s thorough and persistent efforts in defending my practice and me came to fruition and I can now move on with my life.

I now feel optimistic about the future. I cannot recommend NDP highly enough, who achieved an excellent result for me, my family and my business.”

Talk to our Insolvency & Commercial Litigation Solicitors if facing a Claim

As this case study/testimonial shows, receiving a claim from a Liquidator, or in this case a litigation funder, is lengthy and stressful.

They key to any successful defence in this arena is to find out all the pertinent facts and circumstances from the director/company involved, and match the opposition blow for blow. From this we plan our strategy, often working with KCs and very often, as in this case, achieve a positive result for our client.

Contact our insolvency and commercial solicitors or call us on 0121 200 7040 for an initial chat if you are facing an insolvency claim. The sooner you get in touch, the quicker we can get to work to make a difference.