Our Services
We advise our corporate and business clients throughout their development from start-up through growth and expansion to flotation. Advising on corporate financial difficulties is often part of this cycle of corporate growth and development.
As well as companies in financial difficulties, we advise a wide range of stakeholders including company directors, shareholders, investors, banks and other lenders, as well as purchasers of businesses and assets; clients acquiring shares, and also insolvency office-holders, such as administrators, supervisors, receivers and liquidators.
Corporate Turnaround, Restructuring and Rescue
We have long experience of acting as part of a team with our corporate clients and their other advisors in the process of turnaround and rescue of the company and its business. This is corporate transactional advice in distressed circumstances, when the special rules imposed by the Insolvency Act and the Insolvency Rules and related legislation such as the EC Regulation on Insolvency Proceedings and the Cross-Border Insolvency Regulations cannot be overlooked if the optimum result is to be achieved for the client. Detailed knowledge and experience of the application of these special rules is crucial in enabling the company to effect a successful turnaround or rescue.
Amongst the specialist techniques available are rescue rights issues as well as rescheduling/restructuring existing loan facilities. On a practical level, the firm has a good network of contacts amongst specialist funds, investors and lenders as well as turnaround and other specialist advisers, including asset and share valuation experts.
We also act for companies wishing to make acquisitions from companies in financial difficulties, when our skills developed in acting for struggling companies and insolvency office-holders become invaluable to our client.
As part of our corporate finance services we advise borrowers - companies, partnerships and individuals - on the terms of their loan facilities and all legal issues connected with the associated security documentation.
For lenders, we advise on the loan and security documentation and all related issues. We also advise on asset-based finance and invoice discounting agreements, for both lenders and borrowers. For lenders with customers in financial difficulty we undertake security reviews and give advice on all legal issues surrounding the lender’s options.
Other types of reorganisation
Schemes of Arrangement
We have experience of advising on other types of reorganisation, not
necessarily involving the insolvency of the company. For example, we advise
on schemes of arrangement under the Companies Act 2006 which for larger groups
can be a useful method of company reorganisation in certain circumstances.
In the insurance sector we advise on solvent schemes of arrangement as a means
of bringing finality to run-off.
Section 110 Schemes
We advise on schemes of reconstruction and demergers using section 110
Insolvency Act, including, if required, the related tax issues.
Solvent members' voluntary liquidation
We provide advice on exit solutions in relation to dormant group companies,
including members' voluntary (solvent) liquidation. Alternatively, in some
circumstances the company can simply be closed down by dissolution and
striking off the register of companies. We are able to advise on the
appropriate options.
For more information please contact Richard Baines, Principal and Head of Business Turnaround, Restructuring & Insolvency, Tel +44 (0) 20 7216 5518; mobile +44 (0)773 606 5759 or email r.baines@druces.com