Restructuring and insolvency

If a business is in financial distress, we use our experience to feed into a rescue plan and work with the company's leaders to navigate back to a solvent position.

As for counterparties, their financial distress is a major threat to our client's interests. We protect their position and maximise their recovery in case the worst happens and a counterparty ends up in an insolvency process. We've produced a useful Guide to protecting your business.

We also advise insolvency practitioners and banks in connection with formal insolvency processes, such as administration, provisional liquidation, receivership and liquidation.

Our experience

Acting for a top-flight overseas football club in a dispute with the administrators of an English football club concerning a €3m transfer fee.
Success at trial for a litigation funder as assignee of insolvency claims, including preferences and transactions at an undervalue. Successfully defeated two separate appeals which set important legal precedent on the interpretation of the Insolvency Act 1986 (Cage Consultants Ltd v Iqbal (Re Totalbrand Ltd) [2020] EWHC 2917 (Ch) ; Cage Litigation Limited v Iqbal [2022] EWHC 2731 (Ch)).
Acting in the successful defence at a 4-week trial of claims for breach of fiduciary duty, negligence, dishonest assistance and conspiracy against a former director arising from an alleged unlawful restructure of a cosmetic surgery business. Damages exceeding £33,000,000 were sought and all claims were dismissed with the claimants ordered to pay indemnity costs (Henderson & Jones v David Ross and others [2023] EWHC 1276).
Acting for Administrators on the pre-packaged sale of the business and assets of a £62m business in the automotive sector. Assisted the Administrators with the business’s substantial property portfolio whilst managing key stakeholders.
Advising the trustee board of ALRA prior to and on its entry into liquidation. This is one of the only higher education institutes to enter a formal insolvency procedure. Work included advising the trustee board of on their trustee/charity duties in light of the insolvency included drafting trust arrangements and petitioning for a winding up on behalf of the trustees.
Advising the client on its pre-pack purchase of the business and assets of Typhoo Tea Limited including its subsidiary companies. This deal secured a future for this 121-year-old business following its entry into administration and saved just under 100 jobs.
Successfully defending a former director and consultant to the board in Henderson & Jones v Ross and securing a dismissal of claims in excess of £33m for alleged breach of directors duties, negligence, dishonest assistance and conspiracy arising from an alleged unlawful restructure of a private hospital group following an 18 day trial.
Acting for the R&Q group of insurance companies on their complex cross-border group restructuring and advice on a potential restructuring plan cross-border cramdown. The group had companies in different jurisdictions, including the US, Bermuda and Cayman in addition to England. This instruction involved co-ordination with multiple different legal advisors across the multiple jurisdictions and raised intricate issues of securities, insurance, restructuring and insolvency and company law and conflict of laws.

Our clients

BDO
FRP Advisory
Grant Thornton
Mazars
PNC Business Credit
RSM
The Insolvency Service

Our lawyers

The lawyers in our national restructuring and insolvency group have extensive experience advising on business restructuring, counterparty insolvency, security enforcement, and formal insolvency processes, on both non-contentious and contentious assignments.

Useful guides

Risk management for individuals

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