Restructuring

Teacher Stern’s multi-disciplinary restructuring team comprises of lawyers from our Banking & Finance, Corporate, Dispute Resolution and Insolvency practices. The team acts for directors, companies, debtors, creditors, financial institutions and insolvency practitioners on a variety of matters ranging from carrying out solvent reorganisations to dealing with insolvent and financially distressed companies.

Our restructuring lawyers have extensive experience in advising on a wide variety of corporate restructurings and reorganisations, as well as on debt restructuring.

We have acted for a number of UK companies, multinational corporate groups and financial institutions in connection with the reorganisation of their group structures. Many of these reorganisations were carried out to streamline corporate structures following an acquisition or disposal and necessitated the transfer of debt and extension of security intra-group. Others were carried out in response to specific commercial, legal, insolvency or tax requirements.

Where the restructuring is insolvency driven, we involve our specialist Insolvency lawyers at an early stage to assist with rescues, reconstructions, receiverships, administration, liquidations, insolvencies, CVA’s, appointment of receivers, bankruptcy and IVA’s. Of course, if the borrower remains financially viable, our Banking & Finance lawyers will advise on the rescues and reconstruction options available outside of formal insolvency proceedings. These options usually include work outs and debt restructurings as well as carrying out a review of the existing security for the purpose of enhancing that security package or affirming its enforceability.

When the need arises, our Dispute Resolution lawyers will be on hand to assist with the enforcement of a lender’s security.

Representative Restructurings Work

Examples of our team’s restructuring work include:

Advised a secured lender on its enforcement rights against bankrupt borrowers and on its ability to recover shortfalls from the borrowers’ bankrupt estates.
Advised the liquidator of a national hotel chain in relation to the obligations of the defaulting group in connection with secured lending facilities advanced to it.
Advised a lender in connection with the enforcement and realisation of its fixed and floating charge over the book debts of a defaulting borrower.
Advised numerous receivers, liquidators, administrators and trustees in bankruptcy in connection with the obtainment of orders for possession and sale of real estate and other assets.
Advised numerous clients in connection with the restructuring of debt and corresponding security arrangements.