Prav Reddy
Partner
London
Prav Reddy helps office holders, creditors, debtors, banks and distressed companies navigate corporate and personal insolvency. He specialises in office holder-driven disputes including fraud, undervalue, preference, misfeasance and s423 actions. Clients rely on his deep expertise in administration and real estate-related counsel.
Prav is experienced in cross-border and international insolvency, guiding clients through complex bankruptcy challenges. He understands the unique needs of banks in enforcement work, particularly in Law of Property Act (LPA) receiverships. Beyond corporate matters, he specialises in personal insolvency, with a strong focus on asset recovery and resolving disputes relating to trusts and beneficial interests.
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- Acting for liquidators of a leading pharmacy service provider operating throughout the UK across a number of work streams including dealing with key stakeholders in relation to the sale of over 1800 pharmacy businesses operated by the group advising the liquidators in respect of numerous matters relating to this complex liquidation.
- Acted for the administrators of a Guernsey mining company across a number work streams in multiple jurisdictions including proceedings in the United States Court for the Southern District of New York, Chapter 15 proceedings, the issue of an application in the Royal Court of Guernsey under section 426 of the Insolvency Act 1986 for a recognition order in order for the administrators to obtain investigation powers under section 236 of the Insolvency Act 1986 and the investigation of claims against connected persons. Further advised the administrators on a solvent exit of the administration including making a Court application for the discharge of the administration where the statutory purpose of rescuing the company had been achieved.
- Acting for administrators of a group of companies operating television shopping channels. Advising on numerous work streams including asset sales, including the sale of the television channels. Further advised in relation to employee claims, retention of title claims and interchange fee claims.
- Acted for a ultra-high net worth individual in relation to the recovery of a significant investment in a high profile development project involving cross-border asset tracing and bankruptcy proceedings.
- Advised the independent non-executive directors of a publicly traded blockchain technology company focused on large-scale cryptocurrency mining in relation to available restructuring options including refinancing, Chapter 11 proceedings and a sale of the business and assets of the company.
- Acting for the administrators of a group of construction companies, advising on their appointment, the settlement of certain pre-existing disputes and the clawback of pre-administration payments.
- Acting for a private bank in respect of a default under a facility in respect of a London prime residential property. Successfully obtained a strike out of the borrowers claim challenging the enforceability of the security.
- Acting for the Joint LPA Receivers of a London prime residential property including bringing a possession and sale proceedings and a strike out of a challenger regarding the Joint LPA appointment.
- Acting for the administrators of a FCA regulated company including advising on the implementation of a redress scheme and an application to set aside the prescribed part.
- Acted for a defendant in a double derivative, unfair prejudice petition in respect of a claim for fraudulent breach of trust relating to a company registered in Saint Vincent and the Grenadines that operated hotels in the United Kingdom and Cyprus. Claim made via the beneficiaries of a trust company alleging defendant misappropriated sums in excess of £30 million in fraudulent breach of trust and allegations regarding de facto directorship. Claim was dismissed in its entirety. Follow-on proceedings related to non-party costs orders.*
- ]Acted for the trustees of the majority shareholder of a company domiciled in Saint Vincent and the Grenadines in the Eastern Caribbean Court of Appeal against a decision of the High Court to dismiss an application for the rescission of a winding-up order. Succeeded in appeal; case remitted back to the High Court.*
- Acted for administrators of a company that operated under government contracts to provide probation services following privatisation. Involved a sale of the business and assets of the company and the novation of government contracts. Negotiated with multiple relevant governments and their advisers.*
- Acted for financial institution in applying to strike out/summary judgment in relation to a claim asserted by borrowers of a foreign currency mortgage for negligence, breach of duty and deceit. Court of Appeal's judgment now one of the leading authorities on set off and limitation claims relating to mortgage debts.*
- Acted for a bank and the LPA receivers in relation to a claim for breach of duty (against the receivers) and undue influence (in relation to the bank) regarding a £25 million mortgage secured against a London residential property valued at approximately £40 million.*
- Acted for administrators of a company who had been appointed by a charge holder pursuant to their qualifying floating charge in circumstances where it was alleged that the charge holder had failed to disclose to the administrators that there was a unfair prejudice petition issued in advance of the administrators' appointment that sought a declaration that the charge (upon which the administrators were appointed) was invalid. The applicants sought an injunction against the administrators and an order for their removal under paragraph 81 of Schedule B1 to the Insolvency Act (improper motive). In an expedited hearing, the High Court dismissed the paragraph 81 application and discharged the injunction.*
- Acted for administrators of one of the largest UK suppliers of cosmetic surgeries. Advised with regard to a group litigation action involving more than 1800 claimants.*
- Successfully acted for the joint administrators on an application for delivery up of the company's former solicitors files where a joint retainer party objected on the basis of joint privilege. The application also considered the position where the administrators had assigned claims to a third party and the position of joint privilege in those circumstances.*
- Acted for interim manager of numerous charities appointed by the Charity Commission, including in a high-profile fraud matter.*
- Acted for two athletic apparel giants on retail insolvencies. Advised on retail CVAs.*
Please note, Prav’s experience includes that prior to joining Orrick.
