Restructuring and Insolvency
Our excellent reputation in restructuring and insolvency work has built up over many years, principally through acting for companies in difficulties and their directors.
Our practice is by no means restricted to company-side work: we have considerable experience advising creditors, insolvency practitioners and other parties involved when a company is in financial difficulty.
In the past few years we have had leading roles in a significant number of the most complex restructurings and refinancings in the UK. These include our advice, since 2007, to HM Treasury in relation to Northern Rock, Bradford & Bingley and many other aspects of the financial crisis.
We have developed a focused team of partners who spend the greater part of their time on restructuring and insolvency work. They bring extensive experience from many sectors of the firm's work, particularly the fields of finance, corporate law and dispute resolution.
Increasingly, specialist insolvency expertise is required in this complex and technically challenging field. The team works closely with other advisers such as major firms of accountants and investment banks to develop innovative ideas and practical solutions for our clients.
Sarah Paterson has been a senior consultant to our Restructuring and Insolvency group since September 2013.
Very bright and intelligent people who get to the crux of a problem pretty quickly. They offer sound and clear advice, using a language that is easy to understand for the client. Chambers UK, 2016View all Restructuring and Insolvency media comments
Our key experience includes advising:
HM Treasury in conjunction with its own lawyers in relation to numerous aspects of the Government support given to the banking industry.
Carl Zeiss AG on the restructuring of the EUR 586/US$389 million syndicated financing of Carl Zeiss Vision GmbH. We advised with Hengeler Mueller on this matter.
Icelandic bank, Glitnir, on its winding up, particularly the adjudication process relating to the claims filed by international creditors, the development of a distribution proposal and stakeholder management and strategic guidance.
Uniq, the chilled convenience food group, on a pension debt for equity exchange involving the Trustee of the Uniq Pension Scheme in order to divest the company of an unsustainable pension deficit.
Taylor Wimpey, one of the largest house building groups in the UK, on the successful completion of the refinancing of its debt.
Ernst & Young LLP as the administrators of Hellas Telecommunications, on the pre-packaged administration sale of the shares of Wind Hellas, Hellas Telecommunications' wholly-owned subsidiary.
General Motors UK and other UK companies in the General Motors group on matters connected with the Chapter 11 filing by General Motors Corporation and the restructuring of General Motors Europe.
Castle Holdco 4, the parent company of Countrywide plc, on its restructuring and Chapter 15 recognition proceedings in New York.
Raymarine, the marine electronics company, in relation to offers to acquire its business, its administration and the sale of its business operations.
American Capital and European Capital, a member of its group, on matters connected with the restructuring of their European debt facilities.
Thomas Cook on a new £1.4 billion financing package with its lenders which extends the maturity of its financing until 31 May 2015 and provides further stability to the business.