Our Business Recovery & Insolvency team operates from all our UK offices. It advises receivers, administrative receivers, administrators, supervisors and liquidators appointed in all formal corporate insolvency procedures as well as companies in financial difficulties. Our presence on the R3 Technical Committee always keeps us at the forefront of legislative change.

Our European offices have experts on the equivalent procedures in their local jurisdictions. Acting together our multi-national teams have successfully advised insolvency professionals dealing with pan-European businesses facing insolvency in connection with appointments pursuant to the EC Regulation on Insolvency Proceedings.

The main UK procedures are:

Receiverships – we provide a thorough but speedy service to receivers appointed by both institutional and private security holders. Our commercial, sector–focused approach combined with our sound understanding of the nature of the businesses involved and the needs of our clients, means that we work with our clients to ensure successful recoveries. Our services include:

• Reviewing finance and debt purchase agreements, charges and other security documentation.
• Advising charge holders on the value of their security and the viability of appointing fixed charge receivers or administrative receivers, where charges were created prior to 15 September 2003.
• Assisting receivers with all legal matters arising from their appointment.
• Advising on court appointed receivers.
• Speedy sales of businesses or assets, including the drafting and negotiating of bespoke agreements.
• Advising both the charge holder and/or their appointee in the conduct of the receivership.

Administrations and voluntary arrangements - we are able to effect successful recoveries for clients through the combination of our excellent ability to understand the essence of the problem and to devise solutions rapidly. We already have considerable experience of the new administration regime introduced to corporate insolvency by the Enterprise Act 2002 and the options now open to security holders. Our services in this area include:

• Advising on the benefits of obtaining a moratorium using the administration procedure to rescue the business as a going concern; enable a better realisation of the assets; effect a turnaround by way of voluntary arrangement or otherwise achieve the best outcome for creditors.

• Preparing documents in connection with the appointment of administrators either by the court or through the new out of court procedure on behalf of either security holders or the company.

• Assisting administrators and supervisors to negotiate further corporate funding, often working closely here with our expert Asset Based Lending or Banking & Finance teams.

• Assisting with drafting proposals for voluntary arrangements.

• Attending creditors' meetings; advising insolvency practitioners throughout the administration or voluntary arrangement.

• Devising and advising on turnaround solutions within the administration process.

• Drafting and negotiating the speedy sale of businesses and assets using bespoke agreements.

• Advising on the scope and impact of a small company moratorium pursuant to the Insolvency Act 2000.

Liquidations – we understand and respond to the needs of clients by providing a swift and effective service. Our expertise and experience means that we deliver a supportive and constructive service in the effective realisation of assets by liquidators. Our proactive service includes:

• Advising insolvency practitioners and company directors prior to the resolution for voluntary winding-up.

• Assisting insolvency practitioners at s98 creditors' meetings.

• Representing creditors by proxy at creditors' meetings.

• Winding-up companies by order of the court.

• Advising on all legal issues arising out of a liquidation.

• Assisting liquidators with the realisation of assets, including the drafting of all relevant documentation.

• Advising the liquidator on his rights to review antecedent transactions.

• Pursuing claims against third parties and assisting liquidators in agreeing claims and challenges in connection with asset realisations.

• Advising companies in connection with s110 members' voluntary liquidations as part of planned corporate restructuring.