Formal insolvency

In some situations, it will become necessary for companies to file for formal insolvency.

That may be necessary to wind down or sell the business, or to implement a formal restructuring in circumstances where a consensual solvent solution is not deliverable.

The Restructuring and Insolvency team at Burges Salmon provides specialist insolvency advice to a variety of different stakeholders, including boards of directors, insolvency practitioners, purchasers of businesses out of insolvency, regulators, pensions trustees and other contractual counterparties.

Our services include advising on all aspects of formal insolvency including preventative structuring options, directors’ duties advice, contingency planning, enforcement action, formal insolvency and restructuring options advice and insolvency litigation.

This includes advice on all matters relating to administrations, receiverships, liquidations, company voluntary arrangements, schemes of arrangement and restructuring plans.

Whilst sector agnostic, the team has in-depth experience in relation to financially distressed situations in the energy, real estate, retail, leisure and healthcare sectors. It also has significant experience advising, alongside specialists from our international network, on cross- border insolvencies.