Restructuring & Insolvency
At Michelmores we act for insolvency practitioners, borrowers, lenders, professional advisors, directors and members of companies, partnerships and individuals including both creditors and debtors in every aspect of restructuring and insolvency, whether corporate or personal, contentious or non-contentious.
We offer a first rate, efficient, expedient and economic service based on our thorough knowledge of the subject and the unrivalled experience of our Restructuring and Insolvency Solicitors.
Restructuring and Turnaround
We regularly provide advice to companies, directors, lenders and other stakeholders on the financial restructuring of companies, both domestically and internationally. Our experience includes providing advice in respect of debt-to-equity swaps, restructuring or re-scheduling of senior, mezzanine and unsecured loans and other financial instruments including bonds and swap arrangements. We have significant experience in formal restructuring mechanisms such as voluntary arrangements and schemes of arrangement as well as informal bi-lateral negotiations and comprehensive experience of formal insolvency procedures.
Our team has very considerable experience in dealing with every aspect of insolvency and in acting for insolvency practitioners in respect of the disposal and recovery of assets, antecedent transactions, directors' disqualification proceedings and all aspects of corporate and personal insolvency whether of a contentious or non-contentious nature.
- Claims against directors in insolvency proceedings – evolution or regression?
- Michelmores commended in The Times Best Law Firms 2023
- Re Somerset Stainless Solutions Ltd - Creditor decisions on liquidator's remuneration
- Re Active Wear Ltd (in administration) – the decision of sole directors.
- Satyam Enterprises Ltd v Burton: returns of capital by undervalue transactions
- Update on E-Money and Insolvency: Re Allied Wallet Ltd (in liquidation)
- Hyde v Djurberg: Mental health considerations in bankruptcy
- Court's discretion to annul bankruptcy - Khan v Singh-Sall and Habib Bank
- Sink or swim: navigating the decline curve of a business
- Settlement agreement found to be full and final settlement, releasing administrators from liability: Schofield v Smith  EWCA Civ 824
- Properly particularised claims and strike out: Re Mobigo Ltd
- PPI claims and bankruptcy: Shop Direct Finance Company Ltd v Official Receiver  EWHC 1355 (Comm)
- Restructuring Plans – stakeholder fallout
- Unsuccessful suspension of a bankrupt's discharge: Re Mittal
- Setting aside statutory demands: Smith v Gregory
- ECJ Ruling on the treatment of Non-UK pensions on bankruptcy: Wilson V McNamara
- Directors Duties and Transactions at an undervalue: Re Marylebone Warwick Balfour Management LTD
- Michelmores' female partnership level exceeds 40% with the promotion of four new partners
- Clarification of the burden of proof in TUV cases
- E-Money and Insolvency
- Preferences where there is a chain of transfers: Re De Weyer Ltd (in Liquidation)
- Director of company involved in a VAT carousel fraud ordered to pay £1.7m
- Unquantified wrongful trading claim not struck out
- High Court hands down summary judgment in £36m payroll fraud claim
- High Court sanctions a cross-class cram down of a dissenting secured creditor as part of a Part 26A restructuring plan
- Application to annul a bankruptcy order under s. 282(1)(a) Insolvency Act 1986 dismissed by the Court
- Risk of criminal liability for administrators who breach employment law
- Court grants bankrupt permission to appeal against the Official receiver in a case of intermeddling due to inadequate disclosure
- Court of Justice of the European Union rules that section 11 of the Welfare Reform and Pensions Act 1999 is likely to be discriminatory
- Largest ever divorce case contributes to rapidly growing area of insolvency law
- Insolvency court reaffirms that drawings on a director's loan account cannot be reclassified as salary
- Director acting in contravention of s.216 of the Insolvency Act 1986 on the hook for the company's debts
- Michelmores recognised in The Times' list of top law firms
- Insolvency practitioner criticised for bringing a misfeasance claim against a director under s.212 of the Insolvency Act 198
- Insolvency: New Breathing Space regulations for individuals
- Meaning of 'associate' – interpretation in a preference claim
- Quincecare duty does not extend to protect creditors
- Michelmores advises on Relyon acquisition out of administration
- Corporate Insolvency Regime
- COVID-19 - Government guidance on responsible contracting behaviour
- Accelerated Deal Team
- COVID-19 - extension to Job Retention Scheme 13 May 2020
- COVID-19 - Employment law update digest - 27 April 2020
- Coronavirus (COVID-19) and Government support for charities
- Coronavirus Business Legal Hour - 09.04.20
- Coronavirus Business Legal Hour - 07.04.20
- Managing Coronavirus disruption – practical steps for businesses
- Coronavirus – effects on business landlords and tenants – 'fake news'
- Coronavirus - lease management for business tenants
- Michelmores hosts Coronavirus Business Legal Hour series
- Trading through the Coronavirus – issues for directors
- Coronavirus - forced to abandon shop?
- Coronavirus and rent – tips for business tenants
- Michelmores advises Eddie Stobart directors on deal with new majority shareholder DBay
- Bonmarché warns high street trading worse than 2008 recession
- The Model Law on recognition and enforcement of insolvency-related judgments
- Videology Ltd and the Cross-Border Insolvency Regulations 2006: a matter of discretion
- Is Brexit taking a bite out of the hospitality and retail sectors?
- No-deal Brexit? – Implications for the financial services sector
- Framework for the UK-EU partnership in Financial Services
- House of Fraser and administration pre-packs - The key issues for retail suppliers
- Preparing for Brexit - Insolvency
- Continued trading while insolvent is not necessarily wrongful trading
- Competing demands of insolvency and employment law
- Michelmores acts on deal that saved over 30 jobs in Exeter
- Challenge to Administrators’ Conduct
- Retail Administrations Down in the First Half of 2013
Get in touch
- Advising York Global Finance BDH, LLC, one of the respondents to the Waterfall II application made by the directors of Lehman Brothers International (Europe) in connection with the distribution of the surplus in that administration.
- Advising the UK board of directors of a major listed international law firm on their duties during a period of financial distress and restructuring.
- Advising the Luxembourg issuer of a €200m bond raised to provide finance for a large Spanish photovoltaic array in connection with its restructuring.
- Advising Ticketus LLP in connection with its claim of £27m arising out of the collapse of the Rangers Football Club PLC.
- Advising numerous individuals with the £multi-million debts based overseas in relation to English bankruptcy and IVA procedures.
- Acting for the administrator of a media company with USA subsidiaries and dealing with a complex pre-pack asset sale.
- Advising the liquidator of a recruitment company and dealing with recovery action against several associated parties in respect of voidable antecedent transactions.
- Acting for the trustee in bankruptcy of a sole trader operating a haulage/agricultural business. Dealing with the contentious realisation of assets and the examination before the court of associated parties.