Our restructuring lawyers have extensive experience of advising on a wide variety of change programmes. We have acted for a number of UK corporates, financial institutions and multinational corporations on the reorganisation of the corporate structures of their domestic and international businesses, either as stand-alone projects or as part of more significant corporate transactions.
We aim to review and understand the key commercial drivers of any change programme before we get started. We then advise as to the structures that best fit the project at hand.
In the course of these projects we draw on the expertise of colleagues in other groups including commercial contracts, methods of transferring real property and other assets and liabilities, employment, taxation, pensions and competition law to ensure the collective expertise of the firm is harnessed for the client’s benefit.
Our experience includes schemes of arrangement (under the Companies Act and similar legislation such as the Insurance Companies Act and the Financial Services and Markets Act); reductions of capital; hive ups, hive downs and demergers; cross-border mergers under the European Directive 2005/56/EC by which assets and liabilities may be automatically transferred from one group company to another without the need of a liquidation of the transferor company, the use of insolvency procedures in a reorganisation context; process and documentation required to establish new subsidiaries or limited liability partnerships; documentation for counterparties and customers to transfer their business to the correct entity in the new structure, and tax and regulatory consequences.
We have been ranked in Legal 500 UK 2014 for Corporate Restructuring and Insolvency with our team being described as ‘very responsive and displays a high level of expertise in contentious insolvency'.
Notable deals / highlights
Acted for Pacific Crossing, which owns telecoms cables under the Pacific, on the restructuring and disposal of around £10m of assets.
Acted for Plymouth Argyle Football Company on its open offer of new ordinary shares and a restructuring and recapitalisation of the company in order to raise development funding for the development of the club's stadium.
Advised the Charles Green consortium on its offer to acquire Rangers Football Club. We advised on the share acquisitions, the funding for, and issues arising in relation to, a creditors' voluntary arrangement. Following an unsuccessful creditors' meeting, we finalised a business acquisition agreement and related documentation whereby the club assets were acquired for £5.5m.
Advised DPP, a national firm of planning consultants, on its insolvency and eventual administration. We also advised on the creation of a new company, DPP One, and its acquisition of certain assets from the DPP administrators.