Insolvency is a delicately balanced process. Handling it responsibly, skilfully and pragmatically can be crucial in minimising its impact and consequences.
Any business can face insolvency and its knock-on effects for many different reasons – reasons that are often beyond its immediate control – so it’s vital to identify and evaluate all options quickly and carefully. At business-critical and stressful times like this, help from professional experts in the legal side of restructuring and insolvency can be invaluable.
Understanding what insolvency entails – and what it can mean for you
Liquidation, administration, bankruptcy, receivership, voluntary arrangements… there are many terms relating to insolvency, and their meaning and effect can have a major impact on your business operations. Our specialist team is highly experienced in all types of insolvency and the implications, and has the expertise and insights to help you understand and deal with any insolvency challenge.
We do this for businesses of all kinds, from single-site local companies to cross-border enterprises with assets across Europe. Whatever your size or situation, our approach is to identify and implement a workable and commercially viable solution.
We work with clients in diverse sectors, and are used to collaborating closely with other specialists or stakeholders involved on the process, such as professional advisors to key suppliers and regulatory bodies. This means we can see issues from several different perspectives and provide balanced, insightful and comprehensive advice.
A key advantage of appointing Stephens Scown is the access it provides to expertise from other teams within the firm, including Corporate, Property, Employment, IP/IT and Construction.
Approachable experts for restructuring and insolvency matters
As well as being approachable and sensitive to the challenges you face, we’re in a strong position to advise you on issues such as:
contingency planning and due diligence
directors’ duties
debt restructuring and financing
creditors’ rights and options
distressed acquisitions/sales
bringing and defending insolvency claims
entry into formal insolvency proceedings
out-of-court restructurings.
Our experience includes:
acting as the UK counsel to the restructuring team of a large US group of companies with operations in the UK
advising the consortium formed to acquire the business of Axminster Carpets Limited from administrators
acting for a lender in obtaining a court order to appoint administrators to a borrower, where the borrower disputed the debt
advising the members’ voluntary liquidators of a company on settling claims and distributing c.£25m of assets to members following a sale of shares
acting for a board of directors of a social enterprise in defending a wrongful trading claim being pursued against them by an administrator.
