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, petitioning the court for block transfer orders and hostile administrator appointments (including instructing counsel) 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 on a multimillion pound pre-pack sale of a global slipper manufacturer including drafting the necessary documentation required to transfer the assets and intellectual property of the business.

Our recent experience on the property side of insolvency instructions is equally varied. We have advised administrators on their ability to trade under existing premises licences, the assignment and surrender of leases held by companies in administration and landlord disputes.

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, which in turn has led to us receiving an increased number of instructions relating to potential insolvency situations.

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

With our links not only with insolvency practitioners but also with banks (understanding the funding available to assist with cashflow issues) we are well placed to assist clients in their efforts to analyse what action is needed to change and adapt to the current circumstances to navigate a path to survive the stress and in some case real distress that they face in this extraordinary time.