We assist clients with all aspects of distressed situations, including:
- Strategic legal advice
- Insolvency law procedures
- Due diligence
- Negotiating status and quantum of claims
- Trading documentation
- Non-performing loan portfolio sales
Our recent distressed debt experience includes:
- Advising a large number of hedge funds on trust asset returns, agreeing unsecured and client money claims.
- Agreeing Claims Determination Deeds and other settlement documents with LBIE.
- Acting for sellers and purchasers of claims, including due diligence work and drafting trading documents.
M F Global claims
- Advising clients on status and quantum of trust asset, client money and unsecured claims.
- Acting for brokers, sellers and purchasers of claims, including due diligence work and drafting trading documents.
- Advising distressed debt investors.
- Advising on sale and purchase of Icelandic bank claims.
- Advising on sale and purchase of Irish, Portuguese and Greek bank bonds. • Advising creditors on schemes of arrangement.
- Advising creditors on WaMu bond claims.
- Due diligence on Nakheei/Dubai World claims.
- Advising on co-ordinating restructuring committees, MBOs, lockups and standstill agreements.
Acting for purchasers of distressed assets
- Acting for the pre-pack purchaser of Molinare film post-production house, funded by private equity fund, Next Wave.
- Acting for pre-pack purchaser of AIM-listed UK company, Metalrax.
- Acting for the buyer of £21 million of secured debt from Barclays.
- Acting for a bidder for assets of an FSA-regulated business.
Restructuring advice in distressed situations
- Acting for a group of companies negotiating with RBS on restructuring of £120 million debt.
- Acting for NAMA on a major non-performing loan portfolio sale and advising on enforcement options for a property portfolio in the UK, Italy, France and Spain.
- Advising an investment bank on the recovery of a £60 million investment in a listed UK company.
- Advising a group of companies on restructuring negotiations with its secured lender owed £120 million.
- Advising on the restructuring of a UK tourism development company in Portugal.
- Advising on the sub-participation of a $2.5 billion loan to a Russian oil company.
- Advising a national sports retailer on the restructuring of its debts, involving a pre pack administration and CVA.
- Restructuring a bank's security in relation to a group of Isle of Man companies.
- Providing security reviews for lenders and reports on available enforcement options.
- Acting on a restructuring of a corporate client involving a debt for equity swap by RBS.
- Advising on a restructuring of bonds of a Ukrainian company.
- Advising an investment bank in relation to an SIV.