Business Turnaround & Support
Insolvency Law

Our team of specialist insolvency practitioners give our clients specialised insolvency advice that is quick, decisive and effective. The team work closely with our award-winning Debt Recovery and Litigation teams to ensure that all possible options and explored, quickly and cost effectively.

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Insolvency solicitors Gilson Gray

Specialised, insolvency practitioners to help guide you through insolvency

Dealing with financial troubles can feel overwhelming, but you don’t have to face it alone. At Gilson Gray, we understand that financial pressures can arise unexpectedly — whether due to market shifts, cash flow issues or wider economic uncertainty. Our dedicated Restructuring & Insolvency team specialises in non-contentious solutions that help businesses, directors, lenders and stakeholders navigate financial difficulty with confidence.

Our focus is on preserving value, protecting livelihoods and guiding clients through complex restructuring processes while minimising legal and commercial risks. We act for businesses of all sizes across Scotland and beyond, delivering clear, pragmatic advice rooted in a deep understanding of Scots law and the UK insolvency framework.

This is not a service we offer in England.

How We Can Help

We provide tailored, practical advice at every stage of the restructuring process — from early risk planning to complex corporate reorganisations and formal insolvency procedures. Our goal is to secure the best possible outcome for our clients and stakeholders.

Whether you are a company director seeking to fulfil your duties responsibly, a lender protecting your security, or an insolvency practitioner looking to maximise asset value, our team is here to help. Contact us today to speak to our expert restructuring and insolvency solicitors and take the first step toward resolving your financial challenges with confidence.

When a formal insolvency process is needed, we ensure it is quick and effective. Our legal professionals advise on director disqualification proceedings, as well as company refinancing and restructurings, which could present a better alternative to insolvency. For individuals, we can help introduce you to the right insolvency practitioner, advise on the consequences of insolvency and defend petitions for sequestration.

We can help with formal insolvency law procedures including:

Company voluntary arrangement
Receivership
Administration
Liquidation

Our Areas of Expertise

We offer a range of services tailored to your circumstances, needs and goals. Here are the main areas in which we specialise when addressing restructuring and insolvency in Scotland:

Non-Contentious Corporate Restructuring: Advising Scottish businesses on reorganising company structures or operations to improve financial health without resorting to litigation or court disputes.
Debt Refinancing and Restructuring: Supporting companies and lenders to renegotiate loan terms, restructure debts or refinance facilities to ease cash flow pressures and secure long-term viability.
Turnaround and Business Rescue: Working with business owners and advisers to design and implement recovery plans that help viable businesses avoid insolvency and return to sustainable trading.
Distressed Business and Asset Sales: Advising buyers and sellers on acquiring or disposing of distressed businesses or assets, often through administration or other insolvency processes.
Director Duties and Risk Management: Providing clear guidance to directors on their statutory duties under Scots law and the UK Insolvency Act, helping to minimise the risk of personal liability and wrongful trading.
Company Voluntary Arrangements (CVAs): Advising on CVAs as a rescue tool for viable businesses, helping companies reach legally binding compromises with creditors to continue trading.
Pre-Pack Administrations: Assisting in the planning and execution of pre-packaged administration sales to preserve business value and protect jobs while satisfying creditor claims.
Cross-Border Restructuring: Advising on multi-jurisdictional restructurings involving Scottish entities, working closely with international advisers to manage cross-border complexities.
Support for Insolvency Practitioners: Partnering with administrators, liquidators and trustees to manage asset realisations, creditor negotiations and complex transactions efficiently and in compliance with Scots law.

The Right Team for Your Insolvency Needs

When you’re navigating the complexities of insolvency, having a trusted partner by your side can make all the difference. At Gilson Gray, our team of Restructuring and Insolvency solicitors bring years of expertise working closely with accountants, turnaround professionals and insolvency practitioners across diverse sectors to guide you through even the most challenging situations. With offices across Scotland, including Edinburgh,Glasgow, East Lothian, Dundee, Aberdeen, and Forfar, we’re committed to providing clear and decisive support tailored to your unique circumstances. Whatever you’re facing, we take the time to understand your needs and explore commercial practical solutions that balance legal risk with real-world priorities.Contact us today to find out how we can help.

Frequently Asked Questions

What’s the difference between voluntary liquidation and compulsory liquidation?

Voluntary liquidation occurs when a company decides to close down its operations and sell its assets to repay creditors. Compulsory liquidation, on the other hand, is initiated by the court, often at the request of unpaid creditors.

Can I avoid insolvency altogether?

Yes, early intervention is often the key to avoiding insolvency. Addressing cashflow issues, renegotiating loans, or seeking professional restructuring advice can sometimes provide alternatives to insolvency. Our team can assess your situation and offer proactive solutions.

What happens to my personal assets if my business becomes insolvent?

This depends on the business structure. Personal assets are usually protected for limited companies unless personal guarantees have been provided. However, sole traders and partnerships may be personally liable for business debts. We can evaluate your position and advise accordingly.

How long does the insolvency process take?

The timeline varies based on the type of insolvency process. Some, like voluntary arrangements, can last several years, while others, like liquidation, may be resolved more quickly.

How can I ensure my rights as a creditor are protected?

You can ensure your rights as a creditor are protected by seeking professional advice. Creditors have specific rights during insolvency, including voting on proposals and receiving distributions from the company’s assets. We help creditors efficiently claim what they’re owed while complying with legal processes.