"He is an extremely respected barrister and he always performs well."
Chambers UK 2021
Richard is a barrister who specialises in insolvency law, company law and commercial litigation. He has over 20 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 directors' disqualification.
Richard has a comprehensive knowledge of the Insolvency Act 1986 and related legislation and acts on behalf of debtors (individuals and companies), office holders, bankrupts and directors. His practice involves all aspects of personal and corporate insolvency including:
Recent work includes:
Commercial work represents approximately half of Richard's practice and he has particular expertise in claims involving:
Recent work includes:
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:
Recent work includes:
Richard has substantial experience of CDDA and 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.
Significant Cases
Richard's banking & financial services expertise includes:
Company
Band 1
Well respected for his deep experience in company law disputes, with particular expertise in shareholder disputes. Ascroft's practice covers unfair prejudice petitions, challenges to the validity of distributions to members, and internal mismanagement cases. He is also adept at handling claims involving directors' duties.
Strengths: "He is very good on shareholder disputes, unfair prejudice petitions and director disqualifications." "He is an extremely respected barrister and he always performs well."
Recent work: Represented the successful petitioners seeking a share purchase order for unfair prejudice in respect of a trampoline park operator.
Restructuring/Insolvency
Maintains a substantial practice covering all areas of corporate and personal insolvency law. He is an expert in directors' duties and is regularly instructed in transaction avoidance claims and directors' misfeasance proceedings. He has additional experience advising on technical issues surrounding bankruptcy.
Strengths: "Thorough and a great advocate."
Commercial Dispute Resolution
His practice encompasses breaches of agreement, restrictive covenants and insolvency law. He is particularly adept at handling claims that involve breaches of warranty, interference with goods and professional negligence. He currently serves on the Attorney General's regional panel of junior counsel.
Strengths: "He showed immediate understanding of my situation, and his professional opinion at that time was happily proved correct." "Richard Ascroft turns things around really quickly and gives unequivocal advice."
Recent work: Made successful applications to strike out claims alleging breaches of fiduciary and tortious duty on the part of a financial adviser, as well as an application to commit the defendant for contempt of court.
Commercial Litigation
‘Combines an eye for detail and a very engaging manner with excellent advocacy.’
Tier 1
Company and Insolvency
‘Experienced in both company and insolvency-related matters.’
Company
Well respected for his deep experience in company law disputes, with particular expertise in shareholder disputes. Ascroft's practice covers unfair prejudice petitions, challenges of validity of distributions to members and internal mismanagement cases. He is also adept at handling claims involving directors' duties.
Strengths: "Very effective in court." "He is both practical and agile in his strategic thinking, and he's certainly someone on whom you can rely to give good advice in a form which clients can understand. Richard always goes the extra mile and is extremely helpful."
Restructuring & Insolvency
Maintains a substantial practice covering all areas of corporate and personal insolvency law. He is an expert in directors' duties and is regularly instructed in transaction avoidance claims and directors' misfeasance proceedings. He has additional experience advising on technical issues surrounding bankruptcy.
Strengths: "He is fair, objective and very measured." Recent work: Instructed in Bennett v Bosco Investments. Acted for the former joint administrator as creditor for unpaid professional fees seeking a second administration order against a company.
Commercial Dispute Resolution
His practice encompasses breaches of agreement, restrictive covenants and insolvency law. He is particularly adept at handling claims that involve breaches of warranty, interference with goods and professional negligence. He currently serves on the Attorney General's regional panel of junior counsel.
Strengths: "He's very experienced, thorough in his approach and always able to see the wider commercial picture." "He's very good both on his feet and on paper, and has a knowledge of case law that is second to none." "He's very likeable and has a charming manner in court."
Commercial, Banking, Company & Chancery
"Experienced in a wide range of commercial matters."
Company
Well respected for his deep experience in company law disputes, with particular expertise in shareholder disputes. Ascroft's practice covers unfair prejudice petitions, challenges of validity of distributions to members and internal mismanagement cases.
"He's a really good company lawyer, who's got great practical experience of dealing with cases over many years, in particular those concerning unfair prejudice petitions and director disqualification. He's a real fighter and a litigator through and through; he's very at home in court and fights his corner for his clients." "Very competent and someone who always performs well, he's energetic and a lively presence."
Restructuring/Insolvency
Maintains a substantial practice covering all areas of corporate and personal insolvency law. He is an expert in directors' duties and is regularly instructed in transaction avoidance claims and directors' misfeasance proceedings. He has additional experience advising on technical issues surrounding bankruptcy.
"He is extremely knowledgeable and thorough in his approach. His advice is always commercially focused. Very approachable and great with clients." "He is a very talented junior with a wide experience of insolvency matters and the ability to get to the crux of matters very quickly."
Recent work: Acted for a debtor in a High Court appeal by the creditor, whose application to revoke an individual voluntary assignment had been dismissed. This matter was complicated by the timings it concerned.
Commercial Dispute Resolution
His practice encompasses breaches of agreement, restrictive covenants and insolvency law. He is particularly adept at handling claims that involve breaches of warranty, interference with goods and professional negligence. He currently serves on the Attorney General's regional panel of junior counsel.
"Richard is extremely knowledgeable and thorough in his approach. He is very approachable, great with clients and his advice is always commercially focused."
Commercial, Banking, Insolvency & Chancery
‘Excellent on his feet and very good with clients.’
“Recognised for his stellar work in company law, particularly when it comes to directors’ disqualification”
Company
Leading Junior - Band 1
Has over 20 years' experience in company law and is particularly well known for his work in shareholder disputes and internal mismanagement matters. He has specialised knowledge in directors' duties-related claims, and frequently acts for a diverse range of clients from charitable foundations to governmental bodies.
Strengths: "A strong advocate who knows his stuff. He's pleasant to deal with."
Restructuring / Insolvency
Leading Junior - Band 2
Maintains a substantial practice covering all areas of corporate and personal insolvency law. He is an expert in directors' duties and is regularly instructed in transaction avoidance claims and directors' misfeasance proceedings. He has additional experience advising on technical issues surrounding bankruptcy.
Strengths: "He is an excellent all-rounder and great with clients." "He has detailed knowledge of insolvency law and is prepared to fight difficult cases and points."
Recent work: Represented a debtor in the High Court in a challenge to the validity of a creditor's approval of IVA proposals.
Commerical Dispute Resolution
Leading Junior - Band 2
His practice encompasses breaches of agreement, restrictive covenants and insolvency law. He is particularly adept at handling claims that involve breaches of warranty, interference with goods and professional negligence.
Strengths: "Robust, proactive and good on his feet. You know he will always fight your client's corner." "He's very strong in injunctions and is good for anything requiring quick, urgent action."
Recent work: Acted for a purchaser against former conveyancing solicitors, claiming failure to advise on Stamp Duty Land Tax.
Commercial, Banking, Insolvency & Chancery Law
Leading juniors
‘A safe pair of hands for insolvency matters.’
Commercial Dispute Resolution
Leading Junior - Band 2
Sources cite his experience as a solicitor as beneficial. His practice encompasses breaches of agreement, restrictive convenants and insolvency law.
Strengths: "He is imaginative in the way that he deals with issues." "He's a fighter and a great commercial specialist; you know he won't let you down."
Recent work: Represented the tertiary claimant in University of Wales v London College of Business regarding the defence of a £25 million counterclaim concerning allegations of a breach of university course validation agreement.
Company
Leading Junior - Band 1
Particularly well known for his work in shareholder disputes and internal mismanagement matters. He has specialised knowledge in directors' duties-related claims, and frequently acts for a diverse range of clients from charitable foundations to governmental bodies.
Strengths: "He's a good advocate, he fights hard for his client and he's good at legal analysis as well." "He's very commercially minded. He gives the advice your clients need to hear, not what they want to hear."
Recent work: Acted in Holland & Watts Ltd v Fiander Tovell LLP, a case concerning financial assistance for the acquisition of shares and the availability of a 'whitewash' procedure.
Restructuring / Insolvency
Leading Junior - Band 2
Has a substantial practice covering all areas of corporate and personal insolvency law. He is an expert in directors' duties and is regularly instructed in transaction avoidance claims and directors' misfeasance proceedings.
Strengths: "He is thorough and a great advocate."
Recent work: Acted in a claim by a company in liquidation that alleged professional negligence on the part of its former accountants.
Commercial, Banking, Insolvency & Chancery Law
Leading juniors
'Recommended for professional negligence claims.'
Commercial Dispute Resolution
Leading Junior - Band 2
Noted by market sources as a "reliable player", he provides high-quality advice and advocacy across a wide scope of litigation, including on commercial, company, partnership, professional negligence and insolvency disputes.
Strengths: "He inspires confidence and is very good with clients." "He is good on his feet; excellent cross-examination and impressively pulled together all the strands in his submissions to the court."
Recent work: Acted for the claimant in Beeny v Michael Ghersie Associates, a breach of warranty claim concerning the sale of an accountancy practice.
Restructuring / Insolvency
Leading Junior - Band 1
Noted for his encyclopaedic knowledge of directors' duties matters, Richard Ascroft also receives instructions in transaction avoidance claims and directors' misfeasance matters.
Strengths: "He's and extremely clever, bright and imaginative advocate and he's also lovely to deal with for clients."
Recent work: Successfully defended the validity of a payday lender's assignment of a loan book to a third party.
Commercial, Banking & Insolvency
Leading juniors
'Excellent at getting his head around complicated issues'.
Commercial Dispute Resolution
Leading Junior - Band 2
Specialises in company law, insolvency law and commercial litigation. He has particular expertise in claims involving breaches of warranty and misrepresentation, interference with goods, employment restrictive covenants and professional negligence.
Expertise: "He has an extremely impressive ability to get to grips with quite substantial facts, specific topic areas and the legal issues as well." "He's very calm and very good on strategy."
Recent work: Successfully represented the purchaser of an accountancy practice in a breach of warranty dispute against the vendor.
At Guildhall Chambers, Richard Ascroft specialises in company law, in particular directors' disqualifications. He is "incredibly gifted" and a "pleasure to work with".
Commercial, banking and insolvency - Leading juniors - ‘Recognised for his insolvency expertise, but he has also handled various breach of warranty claims’
Commercial
A senior junior with substantial experience in a variety of commercial work such as breaches of warranty and misrepresentation claims.
Recent work: He defended HM Land Registry against a claim alleging negligence in maintaining a proprietorship register in respect of claimant's leasehold interest in freehold property.
Company
Specialises in insolvency and commercial litigation and is also well versed in company law, notably including niche expertise in director disqualifications. He also advises clients on internal management conflicts and just and equitable windings up.
Expertise: "He is a robust advocate, economic in his delivery, and knows which points to press hard and which to go more softly on."
Restructuring/Insolvency
A leading junior who has a strong command of the Company Directors' Disqualification and Bankruptcy Restriction Order regimes and regularly appears in transaction avoidance claims and directors' misfeasance proceedings.
Expertise: "He is a good all-rounder in corporate litigation and insolvency work, and is particularly strong on the technical matters."
Recent work: He was instructed in Mayner v Gaul and Others, a complex claim brought under Section 339 of the 1986 Insolvency Act.
Chancery
Richard Ascroft is an insolvency specialist, and is instructed by individuals and businesses. A client said: "I instruct him extensively. He has the law in mind, but he also really gets the commercial picture."
Commercial
Richard Ascroft has a recognised expertise in, amongst other matters, share sale agreements, retention of title claims; goods supply contracts and issues of fraud and agency. He maintains a busy practice.
Company
Richard Ascroft of Guildhall Chambers is well versed in company law and regularly advises on directors' duties and shareholder-related matters such as unfair prejudice petitions and derivative claims. Peers describe him as a "capable and approachable" barrister, who has a "very strong practice."
Guildhall Chambers fields an impressive insolvency team - featuring Richard Ascroft, who is recommended in this area.
Chancery
Richard Ascroft engages in company law litigation and disputes arising from insolvencies. He is particularly recommended for cases with an unfair prejudice element to them. He is described as "very astute - someone you want to have on your side" in court.
Commercial
Richard Ascroft is hailed as a 'forceful advocate who delivers valuable advice." He is highly regarded for providing guidance on insolvency disputes.
Company
Richard Ascroft offers substantial expertise in company law matters ranging from directors' disqualification and disputes arising from share sale agreements to unfair prejudice petitions.
Insolvency
Richard Ascroft has a balanced corporate and personal insolvency practice. He was part of the team acting for Asil Nadir's trustee in bankruptcy in connection with his application to lift his suspension from discharge.
Chancery
Finally at this set, Richard Ascroft is a "quiet yet effective" breed of counsel who does well on complex insolvency wrangles, and cases of a company or general commercial nature.
Insolvency
Also highly commended is Richard Ascroft, who is particularly focused on personal insolvency matters.
Commercial
Also respected, Richard Ascroft is "calm, knowledgeable, reassuring and continues to go from strength to strength." He is best known for his insolvency expertise, though he has a broader commercial practice comprising contractual, company law and misrepresentation disputes. Interviewees say he "shows good judgement and is a thoroughly decent person."
Richard Ascroft 'user friendly and good to deal with'.
Commercial
Richard Ascroft is "a very reliable advocate and a safe pair of hands." Sources describe him as extremely competent and very pleasant to work with. They further note that he is "an extremely hard worker who will go the extra miles for his clients." His recent highlights include representing a major lender in the attempted recovery of £2 million worth of mortgage monies obtained by fraud.
Insolvency
Richard Ascroft, who has high-level expertise in all aspects of insolvency law. He is "technically strong" and "extremely impressive on his feet." He regularly acts for and against office holders in relation to transaction avoidance claims and directors' Misfeasance proceedings.
Richard Ascroft has been recommended.
Commercial
Richard Ascroft is "highly skilled, with the capacity to think laterally." Breach of contract claims take up a significant amount of his time; he is also praised for his performance on complex disputes and has an extensive company law and insolvency practice.
Insolvency
Particularly excellent on directors' disqualification work, Richard Ascroft is a "user-friendly, great technician" with impressive advocacy skills. His expertise includes corporate and personal insolvency and company and commercial litigation. He has vast experience handling transaction avoidance claims and directors' misfeasance proceedings.
For further information and enquiries please contact:
Commercial & Insolvency: Joe Stayte or Stephen Arnold
