If no agreement is reached in the early stages of the investigation (see above), then the Insolvency Service (acting by the Secretary of State) may seek to commence formal Court Proceedings (likely in the High Court) against you.

In these proceedings, they will seek an order from the Court for your disqualification for a period of 2 - 15 years in the usual case.

In the unfortunate case that proceedings are served on you, it is important that you take urgent legal advice. You will likely be served with a Claim Form and an Affidavit, which is in essence a witness statement setting out the facts in the proceedings.

It is important to seek urgent advice because service of the Claim Form & Affidavit begins the clock on various Court deadlines with which you must comply. For example, you must file an Acknowledgment of Service and set out your own Affidavit evidence in response to the claim before the first directions hearing set down by the Court.

We can assist you in complying with these deadlines, preparing your evidence, and entering into negotiations with the Insolvency Service where possible. The earlier you act, the higher the chances you will be successful in coming to a suitable deal and/or to have the proceedings against you dropped. Of course, there can be no guarantees, but it is key to resolve the matter before too much cost is incurred by both parties.