When a company faces financial pressures it’s essential that specialist advice is sought and that all possible options are assessed at an early stage. With a clear strategy a financial melt-down can often be avoided.
We have extensive experience of working with companies under financial pressures and facing the prospects of an insolvent position. In such circumstances we see our task as being to give solid pragmatic and commercial advice whilst ensuring that the directors do not expose themselves to personal liabilities.
Where possible we will work with “financially stressed” clients to achieve a solvent restructuring so avoiding the need to go through a formal insolvency process. This will inevitably involve negotiations with principal creditors (such as the bank or landlord) and we are skilled at leading such negotiations and implementing restructuring plans.
In those cases where there is no other route than to cease trading, we can advise on the appropriate insolvency process – typically an administration where the underlying business is viable on a going concern basis. In appropriate cases this may involve working with stakeholders on a “pre-pack” administration to ensure the survival of the business.
In any case where there are insolvency issues, it’s essential that timely and quick action is taken. We have the critical mass and all the necessary expertise within the firm to deploy large teams when needed – for example on an administration of a multi site retailer.
We can also advice creditors on asset recoveries in an insolvency scenario and within our litigation team have the experience and resource to be able to deal with and manage recovery claims on behalf of clients.
>>meet the insolvency team