The Insolvency Service’s Legal Services Directorate (LSD) conducts both civil and criminal proceedings to restrict individuals who have acted improperly during the course of insolvency or the life of a company.

The LSD can wind up companies and prosecute those who commit criminal offences within the remit of the Department for Business, Enterprise and Industrial Strategy (BEIS).

Recently, the Insolvency Service has carried out many investigations into allegedly fraudulent claims of Coronavirus relief funds through the Government’s Bounce Back Loan Scheme (BBLS). In such cases, the LSD will seek to establish whether information provided about the size and operations of a company when applying for a BBLS loan is correct and thus that claims for BBLS loans have not been fraudulently made.

An investigation by the LSD can have severe repercussions for you and your business, and impact your commercial reputation. Our lawyers understand the complex process of an LSD investigation and the need for quick action to halt investigations at an early stage or defend prosecutions arising from an investigation to achieve the best outcome for an organisation.