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The natural choice for clients seeking the highest quality technical expertise and commercially focussed advice on restructuring and insolvency matters.

We’re one of the few firms able to offer expert restructuring and insolvency support across the country from offices in the South of England to the North East and Scotland. That’s why we’re trusted to look after the legal needs of a number of the top banking brands in the UK.

Acting for directors, borrowers, underperforming businesses, turnaround professionals, banks and other financial institutions, funds, distressed lenders and private equity debt providers, insolvency practitioners as well as other stakeholders such as the Insolvency Service (INS) and HMRC, we’re proud to offer an unrivalled depth of expertise in restructuring and insolvency.

We work hard to provide clear, practical advice to all key stakeholders, across a wide range of issues, from the first signs of distress and advising on director-led solutions, to turnarounds, restructurings and equity investments, distressed debt assignments and sales of businesses in formal insolvency. We also advise on cost-effective litigation, asset recovery for officeholders and creditors, and the disqualification of directors who have breached their statutory duties. 

We advise banks on the restructuring of lending and the validity of security portfolios and insolvency practitioners and LPA receivers in relation to all aspects of their appointments and the management and realisation of assets including sales of businesses as going concerns. 

Members of the team are considered leaders in the field across all aspects of the work carried out by the team and hold key positions within leading industry bodies such as the Institute for Turnaround, the Insolvency Lawyers' Association and the Association of Business Recovery Professionals.

We’re proud of our team of experts and are committed to delivering a client experience that can’t be beaten. We understand the importance of ensuring our advice is relevant to the sector in which you work, as well as your commercial drivers. We believe this dedication to delivering an outstanding depth of understanding and relevant, practical advice sets us apart from the other legal service providers.

"A substantial provincial firm, very high-profile and highly regarded."

Chambers 2017

Get in touch

Partner
T:+44 (0)191 279 9659

What we do

We have particular experience in the following areas:

The distressed business and its directors/shareholders and/or turnaround professionals

  • Advising directors on their duties and options whilst trading
  • Turnaround advice both for companies in distress and for stakeholders managing their position
  • Advising on the use of trust and escrow mechanisms to protect against the consequences of insolvency.

Companies contracting with a distressed business or insolvency practitioner

  • Purchasing businesses and assets (including TUPE employment advice)
  • Supply chain management in stressed and distressed situations
  • Advising corporates on how to protect against insolvency risk on entry into contracts
  • Contracting for services/supply
  • Exercising recovery rights by way of retention of title or lien.

Distressed debt acquirers and private equity investors

  • Debt restructuring, acquisition and assignment
  • Strategy for investment and use of insolvency options.

Lending institutions

  • Security reviews and debt restructuring
  • Demand, enforcement of rights and insolvency appointments.

Insolvency practitioners (and creditors)

  • All aspects of insolvency trading advice and contracts
  • Selling businesses and assets
  • Managing property assets including reporting on title/advising on covenants and restrictions, granting/terminating leases and other occupation rights and obtaining vacant possession, sale contracts and options
  • Advising on litigating asset recovery and tracing claims and associated risk.

The Secretary of State and Insolvency Service

  • Public interest winding-up proceedings and appointment of provisional liquidators
  • Investigation and disqualification of directors.

In addition

  • Investment Bank Special Administrations
  • All aspects of administration, liquidation, receivership, Company voluntary arrangement and schemes of arrangement
  • Partnership insolvency
  • Personal insolvency including bankruptcy and individual voluntary arrangements.

Examples of work

  • Acting on the restructuring of a group of 20 companies operating 32 care homes with 1100 residents and 1800 employees. We advised the Group in relation to the refinance of its £65m facility and a subsequent four month accelerated sales process culminating in a debt sale to an American fund and a pre-packaged administration sale of the operating parent company
  • Advising administrators in relation to the trading and sale of 5 hotels, following their appointment by a fund which acquires distressed debt. This included challenges being made to conduct by the former owner of the company, undertaking detailed reviews on title for each of the hotels and issues of set off/cross account combination. During the period of trading prior to the individual sales of the hotels, a variety of trading issues were dealt with, including dealing with casual workers, implementing a redundancy process and a number of licensing issues
  • Acting for a company in the chemical industry in relation to its ability to claim payment from the US parent of a debt owed by the UK subsidiary. The claim involved the complex interaction between the Chapter 11 rules and the supremacy of US procedures over UK insolvency proceedings. We also advised the same client in relation to its claim of €11million in a Spanish form of Company Voluntary Arrangement
  • Acting for liquidators following the public interest winding up of companies engaged in fraud and misselling land, wine, carbon credits, film schemes and other “investments”, obtaining world-wide freezing orders, securing the recovery of assets, dealing with complex trust claims and urgent court applications in relation to multi-million pound claims
  • Acting on behalf of the Secretary of State for Business, Innovation and Skills in the successful investigation and subsequent application for the making of a disqualification order against Craig Whyte following his misconduct as a director of RFC 2012 plc, the company which operated Rangers Football Club, and also Tixway Limited.

Clients include: Lloyds Banking Group, Santander, Financial Institutions, Debt & Equity Funders, Insolvency Practitioners, IFT Turnaround Professionals, Corporates and their directors, The Insolvency Service, HMRC.