MANAGE BROCHURE SIGN IN TO MY M&R OUR SITES ABOUT US INSIGHTS NEWS CAREERS EVENTS REGISTER SECTORS SERVICES INTERNATIONAL PEOPLE CONTACT US Home Services Current: Restructuring and Insolvency Restructuring and Insolvency Restructuring and Insolvency We advise businesses on financially distressed situations and assist insolvency practitioners on all aspects of insolvency processes. If a business is in financial distress, we use our experience to feed into a rescue plan and work with the company's leaders to navigate back to a solvent position. As for counterparties, their financial distress is a major threat to our client's interests so we protect their position and maximise their recovery in case the worst happens and a counterparty ends up in an insolvency process. We have produced a useful Guide to protecting your business. We also advise insolvency practitioners and banks in connection with formal insolvency processes, such as administration, provisional liquidation, receivership and liquidation. Our lawyers The lawyers in our national restructuring and insolvency group have extensive experience advising on business restructuring, counterparty insolvency, security enforcement and formal insolvency processes, on both non-contentious and contentious assignments. Our experience We help on various financially distressed assignments. Recent examples include advising: Bolton Wanderers FC and Bury FC - Acting for the PFA on the administration of Bolton Wanderers FC advising on the club’s administration, including on loans of monies to players, and subsequently acting on a proposed loan by the PFA to the purchaser of the club to enable the transaction to complete. Also advised the PFA on Bury FC’s CVA and subsequent expulsion from the EFL. Ferguson Marine - Acted for a surety client as issuer of two Refund Guarantees on the administration of Ferguson Marine shipyards in Scotland and its subsequent purchase by the Scottish government. Mothercare - Acting for the administrators on employment issues arising out of the trading of the Mothercare business in the UK, following the earlier conclusion of its CVA. Thomas Cook - Advising AIG in relation to the terms of its indemnity arrangements with the Thomas Cook Group and on the lead up to and following the compulsory liquidation of the Thomas Cook Group. Our clients BDO FRP Advisory Grant Thornton Mazars PNC Business Credit RSM The Insolvency Service Further reading 30 November 2021 Insight Liquidator fails to recover payments to directors A liquidator failed to establish that payments made from a company’s bank account to its directors had amounted to a breach of duty, transaction at an undervalue, or transaction not authorised by the company’s articles. Bookmark this page 2 min read 30 November 2021 Insight Goodwill as a company asset In a misfeasance application the court concluded that a ‘celebrity’ personal stylist had not breached her director’s duties when operating through another company as all the goodwill generated by the business was personal. Bookmark this page 2 min read 30 November 2021 Insight Double proof rule amended When proving for a debt, a creditor must now account for prior part-payment of the debt by a surety where that surety has given up any right to an indemnity from the principal debtor. Bookmark this page 2 min read 30 November 2021 Insight Claim for CBIR recognition fails Singaporean moratoria were linked to schemes of arrangement that could not effect a discharge of English law governed debt. As such, the English law governed debt had to be carved out from any stay granted by the court on recognition of the Singaporean moratoria under the Cross-border Insolvency Regulations 2006 (CBIR) Bookmark this page 2 min read Related sectors and services Automotive Charities and social enterprise Education Energy Food and agribusiness Fraud and investigatory work Health and care Life sciences Litigation and arbitration legal services Mid-market Real estate investment Sport Women's sport Technology Get in touch Contact our Restructuring and insolvency team. Contact us Get updates Your main contact Neil Smyth Partner +(44)(0)20 7648 9254 +(44)(0)7917 708451 London Contact us Meet the team Risk management for individuals Individuals not only need to consider wealth protection and tax structuring, but in both their private and professional lives, need strategies to protect against defamation... Find out more Useful guides How to protect your business What to do if my company is in financial distress? Guidance on D&O insurance 0344 880 2666 enquiry @ mills-reeve.com Birmingham Leeds Manchester Cambridge London Norwich Mills and Reeve on LinkedIn Mills and Reeve YouTube channel Mills and Reeve on Twitter Stay up to date Keep up to date with all the latest Mills & Reeve legal insights, news publications and events. Sign up Join us Find out about our latest vacancies and what it's like to work for us. Careers at Mills & Reeve Quick links About us Insights News Careers Events International Register Sectors Services People Contact us Pay my invoice © 2021 Mills & Reeve Client privacy notice Cookies policy Coronavirus risk assessment Privacy Legal statements Modern slavery statement Site map Share this page Bookmark this page Add page to my brochure We use cookies to help us understand how this website is used by our visitors. 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