In an unstable global economy, there is an increasing need for individuals and organisations to focus on insolvency issues, whether in their own businesses or in those of clients or customers.
We can advise on all aspects of insolvency disputes. We handle complex and high profile restructurings and corporate collapses for creditors, debtors, companies facing financial crisis, financial institutions, funds asserting or facing potential claims and insolvency practitioners.
We provide advice to directors on their duties and responsibilities when companies are facing an uncertain future, and we give practical guidance on the steps that should be taken to avoid personal liability.
We advise insolvency practitioners on their appointments as administrators, receivers or liquidators of troubled companies. We assist them with issues arising during the conduct of the administration or liquidation, including applications to court and litigation for wrongful trading, preference or transactions at undervalue. We also advise office holders on the terms of liquidation and administration sales including pre-packs.
Our clients include banks, collateral managers, investors, funds and other end-users needing advice on the closing-out or restructuring of structured finance products on insolvency.
We provide advice that covers all aspects of insolvency disputes, from asset investigations and realisations from debtors and delinquent directors on behalf of office holders, to wrongful trading advice to boards of companies and retention of title, asset removal, dividend claims by creditors and defending winding-up petitions. We are also experienced in defending director disqualification proceedings.
Notable deals / highlights
- Successfully represented the liquidators of Lehman Brothers Finance in two separate billion-dollar claims in the English Court of Appeal and the Supreme Court relating to unsegregated client monies and early termination provisions of the 2002 ISDA Master Agreement.
- Acted for the liquidators of a budget travel operator pursuing allegations of a fraud carried out by the former principal of the travel operator.
- Advised a Cayman-based film finance entity in respect of substantial litigation in the US concerning five bankrupt companies and in respect of the administration of a UK company. Successfully challenged the actions of the former administrators of the UK company and obtained an unusual personal costs order against them.
- Acted for the directors of an English football club in respect of an application by the UK tax authorities to place the club into liquidation, and successfully defended the winding up application.