Many businesses of all types and sizes experience financial distress or difficulty. It is typically the extent of the financial distress that determines what is the most appropriate support and restructuring or insolvency mechanism and so the sooner action is taken, the more options are likely to be available.
Profitable businesses can also be adversely affected by a number of external factors, such as a customer in financial distress or which has gone into an insolvency process, or is trading irresponsibly.
Navigating these situations can be extremely challenging and selecting the right legal partner, with specialist experience, is a key determinant of the outcome for all parties.
We have one of the leading business support and insolvency teams outside of London, consistently ranked Band 1 by Chambers and Partners and the Legal 500.
Our lawyers combine legal expertise with intelligence, pragmatism and commercialism to create options, identify bespoke solutions and achieve the most favourable results for our clients.
We are solution-led and specialise in helping under-performing and distressed businesses return to profitability.
We regularly work with licensed insolvency practitioners appointed by creditors or the directors of a distressed company. We also provide our services to lenders, directors, business stakeholders and other third parties affected by business insolvency.
We work across the full spectrum of insolvency assignments and undertake both contentious and non-contentious work, advising on both corporate and personal insolvency matters.
When in administration, a company is placed under the control of an insolvency practitioner. We provide legal advice throughout the period of administration on a wide range of matters, including the sale or purchase of the business and assets of the company if the whole or part of the business can be saved.
We frequently advise on matters of suspected fraudulent activity, acting swiftly to trace the location of the assets and secure them for recovery.
We routinely advise licensed insolvency practitioners on personal insolvency cases, supporting them through the process of the realisation of the individual’s assets. We also advise individuals facing pressure from their creditors as to the options available for dealing with their debts.
Where a company or LLP has been dissolved, we can advise on eligibility for restoration, the restoration process and the completion of the necessary court applications.
Where a company is or is at risk of becoming insolvent, we can advise on the changing directors’ duties and responsibilities, and ensure that they understand how their behaviour must be seen to demonstrate a shift of focus towards creditors.
We regularly advise clients on all contentious aspects of insolvencies and have extensive experience in both bringing and defending substantial insolvency related claims.
Insolvency legislation provides for possible claims against directors who have been guilty of misconduct, such as claims for wrongful trading. We have significant experience acting in investigations of all levels of complexity.
Liquidation is the process used to wind up a limited company or LLP, with its assets and property being sold with a view to making some kind of return to creditors. We deliver legal advice throughout the process of both voluntary and compulsory liquidations.
We are highly experienced in providing advice during the process of receivership, which is a process initiated by a company’s secured lender. Under receivership, the interests of such creditors take precedence over the survival of the company.
Corporate insolvency is a highly regulated practice and we can provide advice in respect of all aspects of the regulatory framework and ensure compliance at all times and in all actions.
We are highly experienced in non-contentious support and recovery options, including negotiating agreements and repayment schedules to enable companies to meet their responsibilities to creditors without becoming insolvent.
The sale and purchase of an insolvent business or its assets is quite different from dealing with a solvent entity. We have extensive experience in negotiating and navigating successful transactions for both sellers and buyers.
Our team is able to provide reviews of security held by lenders in an insolvency situation to identify any issues and comment on the enforceability of any security and/or guarantees. We also advise insolvency practitioners on the validity of their appointment by secured lenders, and any matters of concern during the course of an insolvency assignment.
Antecedent transactions are specific types of transaction that were made prior to a company’s or individual’s insolvency. We regularly support insolvency practitioners in the process of identifying antecedent transactions and seeking to reverse them where appropriate.
We are highly experienced in advising on all aspects of voluntary arrangements – the legal procedures that allow companies and individuals to come to an agreement with creditors on how their debts are going to be repaid, outside of more formal insolvency processes.
We advise licensed insolvency practitioners, lenders, directors and other business stakeholders both in the UK and overseas. We also assist third parties affected by business insolvency, such as suppliers and landlords. Our extensive client list includes Grant Thornton, Smith & Williamson, Interpath Advisory, Begbies Traynor and Quantuma.
We also act for individuals affected by insolvency issues, whether personally or in connection with third parties.
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