We have adopted a specialist team approach to our practices for many years. We feel that this is the way our clients want us to work, and that specialisation leads to the provision of a better service.
"Richard is very well informed; he has a good grasp of detail and fact. He is seasoned, experienced, and a safe pair of hands."
Stephen Arnold
Senior Practice Manager - Civil
0117 930 9000
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Joe Stayte
Practice Manager - Commercial, Insolvency, Property & Estates, Court of Protection (Property & Affairs)
0117 930 9000
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Finlay Duignan
Assistant Practice Manager - Commercial, Insolvency, Property & Estates, Court of Protection (Property & Affairs)
0117 930 9000
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Richard Ascroft specialises in Insolvency, Company Law and Commercial litigation.
He has over 25 years advisory and advocacy experience and has appeared in courts at all levels including the House of Lords.
Richard is identified in the major legal directories as a leading Junior in his chosen fields and was on the Attorney General’s Regional Panel of Junior Counsel to the Crown for 16 years. He is also a contributor to the leading work on Company Directors & Disqualification.
Richard has a comprehensive knowledge of the Insolvency Act 1986 and related legislation. He acts on behalf of debtors (both individuals and companies), office holders, bankrupts and directors. His practice involves all aspects of personal and corporate Insolvency including:
Acting for Asil Nadir’s trustee in bankruptcy.
Advising a major electronics retailer on the enforceability of a reservation of title clause against administrators.
Securing permission for an undischarged bankrupt to act as a company director.
Obtaining the release from disqualification undertakings of two former Farepark directors.
Advising in relation to alleged breach of duty by the former partners of an LLP.
Re Premier FX Ltd (in liquidation) (Insolvency And Companies Court, London) (2021, Deputy ICC Judge Racquel Agnello KC)
Acting for former administrators of Premier FX Ltd (FCA regulated foreign exchange dealer/money transfer agent with 70 bank accounts facing creditors’ claims of c £6m) on successful application for Berkeley Applegate relief.
Irvine v Duff & Phelps Ltd [2019] EWHC 2780 (Ch); [2020] BPIR 158
Acted on behalf of former administrators on successful summary judgment application in respect of debtor’s claim for damages for breach of contract and negligence.
Bennett v Bosco Investments Ltd [2018] EWHC 2901 (Ch); [2019] BCC 303; [2019] BPIR 33
Standing of former administrator to apply for administration order as creditor for unpaid fees.
Weir v Hilsdon [2017] EWHC 983 (Ch); [2017] BPIR 1088
A suspension of discharge from bankruptcy – form of order.
Golstein v Bishop and anr [2016] EWHC 2804 (Ch); [2017] BPIR 51
A revocation of IVA.
Stonham v Ramrattan and anr [2011] EWCA Civ 119; [2011] 1 WLR 1617; [2011] 4 All ER 392; [2011] BPIR 518 (Rix, Longmore and Lloyd LJJ)
A case involving a transaction at an undervalue, and ‘use it or lose it’ provisions, with interaction between ss 283A and 339 of Insolvency Act 1986.
In re Snelling House Ltd [2012] EWHC 440 (Ch) (G Moss QC sitting as a Dep HC Judge)
A case involving misfeasance, a de facto director, and unlawful dividends.
Stonham v Ramrattan and anr [2010] EWHC 1059 (Ch); [2010] BPIR 1210 (Mann J)
Involving a transfer at an undervalue discretion to refuse relief.
Re Walker Wingsail Systems Ltd [2005] EWCA Civ 247; [2006] 1 WLR 2194; [2006] 1 All ER 272; [2005] BPIR 454
A case involving costs on discontinuance of misfeasance proceedings.
Quickson (South and West) Ltd v Katz and arr [2004] EWHC 2443 (Ch); [2005] BCC 138
The removal of liquidators.
Secretary of State for Trade & Industry v Frid [2004] UKHL 24; [2004] 2 AC 506 (HL(E))
A Crown set-off.
Richard’s Commercial work represents approximately half of his practice and he has particular expertise in claims involving:
Acting for the claimant in multi-million pound claim against supplier of allegedly defective biomass boilers used in wood chip drying process
Acting for claimants in breach of warranty claim arising out of share purchase transaction.
Acting for the defendant in a claim for alleged breaches of franchise agreement.
Advising in connection with a substantial breach of warranty arbitration pending in Dubai.
Acting for the claimant in professional negligence proceedings against his former solicitors in the conduct of litigation.
Advising a motor dealer in connection with an interest rate collar instrument.
Acting for the purchaser of an accountancy practice alleging misrepresentation and breach of warranty.
Acting for the claimant in the enforcement of restrictive covenants contained in a written consultancy agreement.
Securing restitutionary relief on behalf of a property management service provider in respect of mistaken rent payments exceeding £1.7m.
Holland Watts Ltd v Fiander Tovell LLP [2015] EWHC 2427 (QB)
An alleged professional negligence by accountants, involving failure to advise clients of risk of breach of financial assistance provisions in Companies Act 1985. Included the availability of the ‘whitewash’ procedure.
University of Wales v London College of Business Ltd [2015] EWHC 1280 (QB)
A breach and termination of degree validation agreement, including the defence of a £25m counterclaim and the validity of contractual set-off provisions.
Bond v Dunster Properties Ltd and ors [2011] EWCA Civ 455 (Lord Neuberger MR, Arden and Longmore LJJ)
Involving the effect of delay in delivery of judgement following trial of preliminary issues.
Jones v (1) Churcher and (2) Abbey National plc [2009] EWHC 722 (QB); [2009] 2 Lloyds Rep 94
A recovery of mistaken payment, ministerial receipt by the bank, and a defence of change of position.
Richard has a long-standing interest in Company Law, with a particular emphasis on shareholder disputes. He is frequently instructed in relation to the following areas of Company Law:
Advising in connection with the failure by plc share registrar to notify a shareholder of a takeover-offer.
Acting for the respondents in an unfair prejudice petition, presented in respect of a healthcare provider.
Acting for the petitioner in an unfair prejudice petition presented in respect of a property investment company.
Advising in relation to numerous breaches of directors’ duty claims.
Re Nexbell Ltd [2021] EWHC 1258 (Ch); [2021] BCC 904 (James Pickering KC, sitting as a Deputy High Court Judge)
Acting for respondent to application by claimant under s 261(1) of the Companies Act 2006 for permission to continue derivative claim. Led by Hugh Sims KC.
The Outside Organisation Ltd and anr v The Registrar of Companies (Birss J, 2019)
Application for rectification of register of charges
In re Paramount Powders (UK) Ltd [2019] EWCA Civ 1644; [2020] 2 BCLC 1
A just and equitable winding up.
Rubin v Parsons [2016] EWHC 237 (Ch)
Involving unfair prejudice, an appeal against the summary determination of petitioners’ claims by registrar.
Davies v Watkins [2012] EWCA Civ 1570 (Thorpe, Lloyd and Black LJJ)
The costs of a compromised Beddoe application, involving proposed unfair prejudice proceedings by the executor of a deceased’s estate.
Re Neath Rugby Ltd [2007] BCC 671
An unfair prejudice case involving summary judgement/striking out.
Kranidiotes v Paschali [2001] EWCA Civ 357; [2003] BCC 353
An unfair prejudice case involving the valuation of a minority shareholding.
Richard has substantial experience of work involving the Company Directors Disqualification Act (CDDA) and Bankruptcy Restrictions Orders (BRO) work, acting both for the Secretary of State/Official Receiver and directors/bankrupts.
He was on the Attorney General’s Provincial Panel of Junior Counsel to the Crown from 2002 to 2018 and is a contributor to Mithani: Directors’ Disqualification, the leading text in the field.
As well as appearing at trials and other contested hearings, Richard is frequently instructed to advise on evidence, the scope of allegations of unfitness, likely periods of disqualification or restriction and in relation to securing permission to act as a director following disqualification orders/undertakings.
Currently acting for two of 14 defendants to disqualification proceedings pending in Northern Ireland arising out of insolvency of major manufacturing group leading to c 1200 job losses
Re CFO Lending Ltd, Secretary of State for Business, Energy & Industrial Strategy v Keeble [2022] EWHC 2503 (Ch)
Acted for director of pay-day loans company in successful defence of disqualification proceedings brought under s 6 of the Company Directors Disqualification Act 1986 where allegations included causing or allowing the company to misuse customer banking information, make excessive use of continuous payment authorities and fail to keep records which were adequate to accurately account for amounts due from customers
Haughey v Secretary of State for Business, Energy and Industrial Strategy [2018] EWHC 3566 (Ch); [2019] BCC 483
An application by a director subject to a 6 year disqualification undertaking for permission to act as director.
Green v Secretary of State for Trade & Industry [2006] EWHC 1739 (Ch)
An appeal against the dismissal of the respondent director’s application to expunge evidence relating to a non-lead company.
Richard’s Banking & Financial expertise includes:
Stephen Arnold
Senior Practice Manager - Civil
0117 930 9000
Click here to email
Joe Stayte
Practice Manager - Commercial, Insolvency, Property & Estates, Court of Protection (Property & Affairs)
0117 930 9000
Click here to email
Finlay Duignan
Assistant Practice Manager - Commercial, Insolvency, Property & Estates, Court of Protection (Property & Affairs)
0117 930 9000
Click here to email
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