The content in this subtopic is intended to assist a dispute resolution lawyer to navigate the issues and wider strategic considerations which might arise in the context of disputes involving financially distressed and/or insolvent parties.
It is important to observe at the outset that there is no general prohibition on issuing or pursuing any claims (whether original claims, additional claims or counterclaims) against ‘insolvent’ parties. Insolvency is a question of fact and individuals and companies may shift from solvency to insolvency at various times without any legal consequences as regards parties who may wish to bring claims against them. However, when a company or an individual enters into a formal insolvency process or debt management regime, restrictions may be imposed on the ability of other parties to bring, or continue with, claims against that company or individual.
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