Ian Weatherall helps clients to effectively and efficiently recover assets or funds by resolving financial or insolvency disputes quickly and commercially.
Ian works with lenders including the main clearing banks, as well as corporates, directors on issues involving directors' duties, creditors and office holders, including the Big Four accounting firms and other leading insolvency practices.
Banking and insolvency cases often involve complex and constantly evolving legal issues, so clients need an adviser who not only understands the law and how it affects their situation, but also delivers commercial solutions.
Ian has an in-depth understanding of the complexities of banking and insolvency disputes and is recognised as a "great all-rounder" capable of delivering pragmatic advice for his clients. He is often described as "very client focused" providing "robust legal and commercial input".
Ian has acted on banking and insolvency disputes for more than 20 years and uses the law in tandem with his considerable negotiation and tactical skills to achieve positive outcomes for his clients.
He is often called in to help with a crisis and therefore needs to act quickly and efficiently. He recognises the need to give clear and firm advice but also to ensure that advice is given in a commercial context.
Ian is driven to achieve tangible results for his clients rather than running a case just because I want my day in court. I am pragmatic but also imaginative in my approach to matters, to maximise returns for my clients, or in insolvency transactions, to get the best possible outcome for all stakeholders.
Ian was engaged by an insolvency practitioner to advise on the merits of pursuing a claim against three directors, including a shadow director, for misfeasance and wrongful trading where there were no assets within the liquidation. He was willing to demonstrate the confidence in his advice by agreeing to act on a conditional fee.
The case was complicated as much of the day-to-day business was conducted from the parent company's head office in Moscow, where the shadow director was based. There were therefore concerns about the integrity of the evidence. It was decided that long drawn out litigation was not the appropriate approach and therefore engaged in detailed pre-action correspondence together with threats of third party disclosure applications against the parent company.
This approach prompted early engagement and a mediation took place only four months after our initial letter. We achieved a significant settlement at the mediation with a payment in excess of £5 million received the following day.
Ian's clients include the corporate and asset-based divisions within clearing banks, a range of insolvency practitioners, and corporates that require advice dealing with financial disputes or insolvencies within their own businesses or those of their customers and suppliers.
Ian obtained a freezing order on behalf of a clearing bank to prevent the further disposal of corporate assets at a significant undervalue, and then secured the appointment of an administrator to successfully sell the business for the benefit of creditors.
He acted for a spread betting company to recover losses made on contract for difference (CFD) trades by their clients.
He helped two directors to successfully defend wrongful trading proceedings brought against them to the sum of £7 million.
Ian advised a major automative supplier in relation to its rights in respect of mis-sold financial derivative products.
He advised an international aerospace client on supply chain issues following the financial difficulty of a key component supplier based in England and Sri Lanka.
He was able to achieve an administration order in respect of a BVI company whose centre of main interest was based in this country.
He acted for a financial institution in developing a strategy and approach presented at board level to deal with issues arising in respect of PPI mis-selling.
Ian also acted for an asset-based lender in recovering in excess of £2 million from a director who had misapplied funds advanced pursuant to fictitious invoices.