Independent Claim Review (ICR)
In times of recession, litigation claims arising out of insolvencies always increase, as stakeholders are keen to pursue those responsible for financial failure.
But what claims might there be? What investigations should be undertaken? Are there funding and sanction implications? How much will litigation cost? What other issues are there?
To help you answer those questions, our restructuring and insolvency team has developed the Independent Claim Review (ICR), which is a tool to assess comprehensively claims available to a company or its officeholders in insolvency, and is designed to ensure that all such issues are analysed clearly and succinctly at an early stage. This enables officeholders, creditors and other stakeholders to assess rapidly the best strategy to pursue.
The ICR covers:
- The types of claim that may be available and their potential value
- Legal analysis of the claims
- Details of any further investigations required
- Commercial and publicity considerations
- Estimated costs of pursuing the claims including funding options
- Sanction issues and creditor attitude
- Suggested next steps
The ICR ensures that clear advice on claims and the strategy for dealing with them is presented in one complete document, enabling you to take a fully informed decision as to how to progress any litigation. It can be updated easily, and it (or extracts from it) can be made available to funders or insurers. The ICR will also assist with requests for sanction, submitting D Returns, projecting realisations and dividend prospects and assessing at an early stage the viability of any proposed litigation. Its format can also be tailored to suit individual client needs.
The ICR is an invaluable tool for all stakeholders in restructuring and insolvency, ensuring that a fully informed decision can be made quickly and cost-effectively as to whether or not a claim should be pursued.
Please contact Alex, Robert or Kanika for more information.