Damon Watt

Partner

Areas of Specialism: Pre-insolvency advice and rescue solutions, directors duties and liabilities, defending directors, antecedent transactions, misfeasance, and wrongful trading. Bankruptcy, administrations and liquidations.

With over 18 years of experience working in insolvency, Damon advises directors, shareholders and officeholders on all matters relating to business rescue and insolvency. Working alongside insolvency professionals, banks and alternative funders and Toller’s experienced corporate team Damon strives to find intuitive and unique solutions to save struggling businesses. This may include restructuring, reorganising or re-banking as well as looking at insolvency options such as voluntary arrangements, schemes of arrangement, and pre-packaged administrations. Damon also has considerable experience in advising directors as to their duties, responsibilities and potential personal liability when times get tough and ensures that where possible the appropriate safeguards are put in place. Where legal action is threatened against directors following insolvency then Damon has an enviable reputation in defending these claims.

Damon has vast experience in advising insolvency practitioners in all aspects of insolvency law. In a non-contentious context, Damon advises in respect of the ability to appoint and appointment of administrators and receivers and their respective powers and duties, validity of appointment, validity of security, pre-packs (perks and pitfalls), officeholders remuneration, the sale and distribution of assets, and dividends to creditors. In contentious matters, Damon’s experience includes bringing and defending claims relating to fraud, breach of contract, retention of title, wrongful trading, misfeasance, transfers at undervalue, and preference claims. Working with third parties Damon is able to advise as to funding solutions which so often proves to be a bar to the recovery of assets.

Damon is a CDRE accredited mediator and utilising his insolvency knowledge and experience to facilitate settlements between parties engaged in insolvency litigation.

Damon also provides advice to individuals facing financial difficulty.  Damon has considerable experience in dealing with bankruptcy related matters and acted in the high profile and controversial case of Raithatha v Williams [2012] involving a Trustee in Bankruptcies right to claim a bankrupts pension fund.

Damon has particular experience in advising the retail, food, and entertainment sectors having been involved in various high profile insolvencies including Comet and Sealine International.

Ranked in the Legal 500 and Chambers and Partners 2020  as “very good at driving matters forward and getting results” and providing “clients with a dedicated range of restructuring, recovery and insolvency advice”. Damon is credited with providing an “Excellent response time. Quality technical expertise.  Good value for money”.

Damon is a member of the Association of Business Recovery Professionals, the Insolvency Lawyers’ Association, and the Insolvency Practitioners Association and has edited both the first and second edition of Corporate Insolvency Practice: Litigation, Procedure and Precedents by Mark Watson-Gandy.

  • Areas of Expertise:
    • Bespoke restructuring and insolvency advice to and solutions for  companies experiencing financial difficulties – voluntary arrangements, schemes of arrangement, directors duties and responsibilities, wrongful trading and personal liability of directors, trading on and mitigating risk;
    • Post insolvency advice and support for directors, creditors and other stakeholders– debt/asset recovery, claims against directors by liquidators and administrators ;
    • Advising lenders, creditors  and investors how best to protect their interests – validity of security, enforcement, winding up, appointment of liquidators, receivers and administrators;
    • Advising office holders – validity of appointment, powers, duties, antecedent transactions and potential claims against third parties , funding of claims, asset recovery and disposal/realisation.
  • Types of Clients:
    • Insolvency Practitioners
    • Banks and institutional and alternative  lenders
    • Invoice discounters
    • Directors and shareholders
    • Companies in every sector
    • Individuals in financial distress

Damon is an avid cricket fan (particularly when in the Caribbean!) and is a member of both Middlesex and Northamptonshire county cricket clubs. He enjoys country pursuits and spending time with his Bulldog and Cocker Spaniel. Having just trekked across the wild jungles of Borneo in aid of a local cancer hospice Damon has developed a taste for travelling to exotic places.  Costa Rica or the Peruvian Andes next?

Damon is available to meet at the following offices: Uppingham Office, Oakham Office, Kempston Office, Stevenage Office, Kettering Office, Corby Office, Milton Keynes Office, Northampton Office

More of the Insolvency And Corporate Recovery Team

Duncan Nicholson

Managing Partner

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