NEWS: Creation of Commercial & Insolvency Special Interest Group
Posted On: 23 September 2008
The credit crunch and the enveloping recession in the commercial and domestic property sectors have highlighted a growing need for specialist advice on corporate and personal insolvency. To fill a gap in available legal services for the insolvency professions and the wider community in Scotland, a specialist group of Advocates has been formed to provide advice and advocacy on commercial and insolvency matters.
Operating as part of the Murray Stable, the Commercial and Insolvency Group is composed of nine Advocates, all of whom have a special interest in developing professional services in this area of law.
Iain Murray, Practice Manager, comments "The demand for expertise in the Commercial and Insolvency areas has definitely increased and the legal and accounting professions have undoubtedly become more discerning. We see this in the number of hits to the Stable website. To satisfy the accelerating demand for expertise in the Insolvency field a group of Senior and Junior Counsel has been formed within the Stable. Insolvency work, which has always been cyclical, was big business in the last decade and not just for the accountants. At the senior end this group includes Advocates who were prominent the last time the cycle came round and, for example, took part in House of Lords cases such as Clydesdale Bank v Davidson as well as more junior members who are equally knowledgeable. The result is the Murray Stable now has a team of Advocates already geared to providing advice and advocacy quickly in the Insolvency field, for example concerning securities, preferences, trading, actions against former Directors, personal guarantees as well as the multitudinous actions and petitions involving Liquidators and Trustees."