At First Dispute Management we work with a large number of Insolvency Practitioners to help recover compensation for the insolvent estate. Our experts have fought claims on behalf of open and closed Individual Voluntary Arrangements (IVA), bankruptcies and Protected Trust Deeds with considerable success.
The rules for different solutions vary, but in general, compensation for financial mis-selling forms an asset within the insolvent estate which needs to be paid into the arrangement for the benefit of creditors.
If you are, or have ever been, in a form of insolvency, it is important to ensure that you have the agreement of the Supervisor of the arrangement as it is likely that all monies recovered will need to go to the estate. If you engage a third party to help with the claim, this could lead to you becoming responsible for their fees.
At FDM, we only act for clients where an agreement exists with the insolvency practitioner which gives you comfort to know that you will not be negatively affected by any claim – in fact, in many instances, the insolvency practitioner will allow you to retain some of the funds.
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