Who we
work with
Having worked with a variety of high-calibre lenders, we have expertise in banking and finance (including asset-based lending), pensions, mergers and acquisitions, real estate, HR, and commercial disputes, as well as restructuring and insolvency.
Clearing banks
We’re the sole supplier to two clearing banks for all of their LPA receiverships below a certain debt level.
We’ve also provided support to administrators, which included selling the company’s book debts, retention of property, and dealing with the assignment of existing supplier contracts. We’ve urgently drafted bespoke debt and contract assignments, and replaced old contracts with new ones to preserve value.
Directors
We’ve worked with directors at the instigation of the bank to assist with managed turnarounds (where possible), or to prepare steps to ensure a smooth and controlled exit process.
We recently assisted the directors of Centrix Software Limited in dealing with such matters.
Lenders and restructuring professionals
We’ve liaised with lenders and restructuring professionals on managed exits from distressed scenarios.
Working with an insolvency practitioner and liaising with the lender, we reviewed various competing charges and retention of title claims over the assets of scaffolding company Modus Access UK Limited. This allowed us to procure and line up a smooth sale to one of its main competitors and maximise the return to the lender, who was also a secured lender.
The work included negotiating deeds of release and terms with an asset-based lender who, under a deed of priority, held a first ranking charge.
Various lenders
We’ve assisted with reviewing and drafting documentation when lenders provide facilities to debtors, including security documentation, and helped with security reviews where lenders are considering their options.
We advised a clearing bank on a security held by them, following their acquisition of a smaller building society, for a caravan park that had defaulted on its financial covenants. The security documentation for the various parcels of land was old and had been put in place by another lender, who was subsequently consumed into the bank, adding to the complexity.
We’ve also reviewed suites of recoveries documentation used by lenders to ensure that they're up to date. We've been instructed by a UK bank to review various demand letters used when commercial borrowers (mostly buy-to-let customers) default on their facility.
Our clients include