Restructuring & Insolvency

Recent instructions received by the Restructuring and Insolvency team have been typically varied including advising on the enforceability of security, submitting administrator appointments at court, resisting winding up proceedings threatened by HMRC and advising both purchasers and administrators on various sales and purchases of businesses in administration, including the assignment of intellectual property rights.

A particular highlight is that we advised the administrators of a renewable energy and hydrogen storage provider on the sale of the business and assets of the company in administration to an Indian public listed company. Including advising the administrators on obtaining the consent of the government department of Energy Security & Net Zero to the transaction.

We have also seen an increased number of instructions with an international element. For example, we advised an events management company on its purchase of the business and assets of a company in administration, including working with counsel based in Dubai in connection with setting up an oversees branch of our client to allow it to continue to employ certain employees of the seller, which were based in Dubai, thus protecting their continued employment.

Our recent experience on the employment side of insolvency instructions is equally varied. We advised the administrators of a technology communications company on a claim brought against the company in administration on behalf of 30+ employees for failure to inform and consult in a collective redundancy scenario.

There has been a particular focus on intellectual property rights (“IPR”) in our recent instructions. We have acted for both purchasers and insolvency practitioners on the assignment of IPR held by companies in administration and liquidation including registered trademarks, copyrights, patents, software, business names, domains and websites.

Outside of our fee earning work, we have also provided training sessions to firms of investors who are looking for practical advice on the ways they can try to safeguard their investments in insolvency situations.

Global politics, rising energy prices, inflation and interest rates are placing a strain on businesses resulting in a large increase in corporate insolvencies. With further uncertainty predicted in the coming months many businesses will suffer severe cashflow issues and it is more important than ever that businesses seek advice from specialist professional advisers at an early stage.

With our links to insolvency practitioners, banks and alternative finance providers (understanding the funding available to assist with cashflow issues), we are well placed to assist clients in their efforts to investigate what action is needed and change their current circumstances to best navigate a path to survive the stress and, in some case, real distress that they face in this extraordinary time.