Overview

Corporate stress and distress are as much part of corporate life as profit and loss. Businesses need specialist advice on corporate insolvency issues and how to rescue failing companies, or deal with those that can't be saved.

Our corporate restructuring and insolvency team comprises over 30 lawyers, including 10 partners, with some having over 30 years of experience in corporate restructuring and insolvency.

To identify the best strategy for your business, we assemble a team of experts from a range of legal disciplines, tailored to your specific needs.

Much of our work has an international focus and we are well-equipped to help with cross-border issues. Our preferred firm network includes firms from multiple jurisdictions, dealing with international corporate bankruptcy issues.

Our work spans a wide range of sectors and clients; including  banks, funds, shareholders, distressed investors, insolvency practitioners, pension trustees, receivers and stakeholders of all kinds. We work in the capital markets and corporate lending sectors as well as for companies in general. We are active members of R3, INSOL, INSOL Europe, the IBA and NARA.

Areas of focus

Our corporate restructuring and insolvency expertise includes:

  • Corporate and financial restructuring.
  • Distressed investing.
  • Pension schemes in stressed and distressed companies.
  • Schemes of Arrangement and CVAs.
  • Administrations and liquidations.
  • LPA (fixed charge) receiverships.
  • Loan enforcement.
Experience

Acting for Agent Provocateur Limited in connection with its pre-pack administration sale and the subsequent wind down and restructuring of its international business located across 19 countries.

Advising a US investor in connection with the debt and equity restructuring of a UK manufacturer.

Advising a US private investor in connection with the pre-pack acquisition of a global software company.

Advising the UK government in connection with contingency planning relating to a distressed statutory service provider.

Advising the administrators of Cory Environmental, a major waste and waste-to-energy group, in the restructuring of circa £420 million of senior, mezzanine and junior secured debt, involving the use of administration, the negotiation of a scheme of arrangement to compromise “underwater” secured debt and a “pre-pack” share sale.

Working for London Fire and Emergency Planning Authority (LFEPA) to enable the London Fire Brigade to keep fire engines on the streets during the Olympics and Jubilee year.

Advising the UK based pension scheme of an international transport company in defeating a proposed arrangement under which the UK pension liabilities would have been left behind in a restructuring of the larger international group.

Acting for The Co-operative Bank as lenders in the disputed BVI administrative receivership of an offshore SPV owning UK-based real estate.

Advising the London Waste and Recycling Board (LWARB) on the restructuring of and (where restructuring was not possible) exit from a number of distressed waste and energy-from-waste projects, including projects involved in the production of bio-ethanol, anaerobic digestion, biogas-fuelled electricity generation, and plastic recycling.

Advising the receivers of a shopping centre on the re-gearing of a head lease, new special purpose vehicle (SPV) and security structures (to allow for improvements works) and recovery of VAT in the receiverships.

Advising the administrators of Universal Engineering Limited, a specialist engineering company involved in the production of equipment used in deep sea oil drilling, in the realisation of key physical and real estate assets in order to repay secured and unsecured creditors.

Advising on the repatriation of the Centre of Main Interests (COMI) of two Luxembourg registered companies who owned a shopping centre in the North of England to enable administrators to be appointed and the shopping centre to be refurbished and re-let. We then advised the administrators in relation to an exit through a CVA.

Acting for the trustees of the Hibu Pensions Scheme – the largest single creditor in the world wide restructure of the group – which included £3 billion of secured debt.

Advising AlixPartners as administrators of Thomas Bolton, the last UK-based copper smelting outfit, in an administration underpinned by cashflow problems, but precipitated by the explosion of two furnaces at the site. We advised the administrators on ongoing trading and environmental issues pending the sale of the key assets at the site.

Acting for Vail Williams on the LPA receivership (appointed by Co-operative Bank) of a £125 million commercial property investment portfolio of RBS and NatWest Branches.

Advising in relation to one of the largest bilateral loans originated by Anglo Irish Bank, instructed by NAMA. This has involved a security review of approximately 100 properties, a loan book transfer, ongoing asset management advice, a corporate group share restructure and a combined secured debt sale and redemption resulting in a full exit for Anglo’s successor.

Meet the team
Andrew Eaton

Andrew Eaton Partner

  • Head of Corporate Restructuring and Insolvency
  • Banking
  • Corporate
James Sutherland

James Sutherland Partner

  • Real Estate Disputes
  • Dispute Resolution
  • Professional Negligence
Patrick Cook

Patrick Cook Partner

  • Banking
  • Business Transformation
  • Corporate
David Hall

David Hall Partner

  • Head of Dispute Resolution
  • Banking Disputes
  • Fraud and White Collar Crime
Colin Ligman

Colin Ligman Partner

  • Head of Real Estate Services
  • Real Estate Finance
  • Corporate Restructuring and Insolvency
Paul Browne

Paul Browne Partner

  • Head of Real Estate Finance 
  • Nuclear
  • Real Estate
Michael Hayles

Michael Hayles Partner

  • Pensions
  • Public Sector Pension Schemes
  • Financial Services
Rupert Weston

Rupert Weston Partner

  • Corporate
  • Hotels
  • Mergers and Acquisitions
Nigel Popplewell

Nigel Popplewell Partner

  • Corporate Tax
  • Tax
  • Real Estate Tax
Clive Pugh

Clive Pugh Partner

  • Pensions Regulatory
  • Pensions Services
  • Pensions in Northern Ireland

Corporate Restructuring and Insolvency

It was a pleasure to work with Burges Salmon on this complex assignment. Their advice was always timely, pragmatic and well considered. Their team works well together and are always prepared to go the extra mile.
A client

Key contact

Andrew Eaton

Andrew Eaton Partner

  • Head of Corporate Restructuring and Insolvency
  • Banking
  • Corporate

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