- Directors’ duties advice
- Cash flow/continued trading advice
- Antecedent transaction advice
- General advice on insolvency processes
- Administration appointments
- Administration sales/acquisitions
- Liquidation sales/acquisitions
- Assignment of claims
- Receivership appointments
- Enforcement of security
- CVA/IVA proposals
- Schemes of arrangement
- Corporate Insolvency & Governance Act
Restructuring & insolvency
Our team provides a full range of services to help distressed and insolvent businesses as well as providing comprehensive legal advice to insolvency practitioners. We support clients through administrations, liquidations, receiverships, turnarounds and restructurings, to ensure the best possible outcome.
Directors duties shift towards protecting creditors when a business is in financial difficulties. We provide advice to directors and boards of companies in financial distress to ensure that directors comply with their changing duties and to mitigate any potential personal liability, whilst ensuing the best possible outcome for all stakeholders in the business.
We provide up-to-date and practical advice to insolvency practitioners, through all stages of the insolvency process, including disputes and litigation, general advisory and the sale of assets.
Acquiring or selling a distressed business is not your usual M&A transaction, the timeframes, available information and ability to negotiate protections are all often very limited. We have considerable experience acting both on the acquisition of distressed businesses as well as acting for insolvency practitioners. We focus on the key commercial issues for our clients and invest our efforts in ensuring these areas are addressed to maximum extent possible in often challenging circumstances.
We work closely with shareholders, management teams and other stakeholders to consider, advise on and implement restructuring programs. There are a range of potential opportunities available to businesses looking to restructure and our experienced team will be able to guide you through the various considerations and work with you to agree the best option for your business.
Our approach is to listen carefully, consider your specific circumstances, and work closely with office holders, lenders, creditors and directors until your objectives are achieved.
Our advice is always practical and pertinent. We understand the dynamics of insolvency and move quickly and decisively.
- Advising a private members’ club in relation to cash flow difficulties experienced as a result of COVID-19 and the resulting temporary closure of the club. The landlord of the club’s premises issued a winding-up petition following non-payment of rent in contradiction of government recommendations on working with tenants to support them through the crisis.
- Providing strategic advice to the institutional landlord of a shopping centre following the announcement of a Company Voluntary Arrangement (CVA) in June 2018. A detailed consideration of the proposal was undertaken and advice given in relation to the client’s position as an affected landlord, including attending the creditors’ meeting on behalf of the client. A potential challenge to the CVA, which was passed by a majority of creditors, was considered but not ultimately pursued.
- Advising Holiday Extras in relation to the collapse of Thomas Cook, including advice on their contractual obligations, potential liability to customers and the Thomas Cook liquidators, and general guidance and support on the liquidation process and communication with customers.
- Acting for administrators in relation to the administration of Nason’s, a well-known family owned department store in Canterbury, Kent. A wind-down strategy was adopted that entailed a closing down sale, redundancy consultation with staff and a managed closure and entry into administration. We acted on the out-of-court appointment, and advised on the employment issues and collective redundancy process. We also provided advice and support to the administrators in relation to the post-appointment period, including acting on a licence to occupy for one of the company’s satellite stores.
- Advising the purchaser of a distressed hotel business, which was on the brink of an insolvency process. The agreed deal with our client prevented this and ensured that the creditors and employees were paid in full. We dealt with the distressed purchase quickly and commercially to avoid an insolvency event that would prevent the deal proceeding, and also liaised with the clients’ bank to fund the transaction.
- Advising on the acquisition of assets of the Great British Chefs out of administration
Advising EKC on the acquisition of Ashford College and Canterbury Spring Lane from Hadlow College (in Education Administration)Advising the administrators on the appointment and pre-pack sale of Flio Limited (in administration), developer of the Flio airport app and a German subsidiary, to an international acquirer.
Advising the administrators on the appointment and pre-pack sale of Juna Trading Limited (in administration), a tool hire business with several premises.
- Corporate Insolvency and Governance Act becomes law
- Tenants granted relief as stay of possession proceedings is extended
- Corporate Insolvency and Governance Bill published
- Winding-up petitions banned for commercial tenants – COVID-19 update
- Education administration – what is it and how is it different?
- Guidance note on directors’ duties
- Budget prefers HMRC in insolvency
- Dealing with a winding up petition: overview
- Bell Pottinger – what went wrong?
- Giving notice of intention to appoint administrators – case update
- Avoiding insolvency – are your suppliers or customers dragging you down?
- The Third Parties (Rights against Insurers) Act 2010 – simplifying claims
- Liquidation – an overview
Don't just take our word for it...
"Cripps Pemberton Greenish were brilliant at navigating us through the process, they completely understood the complexities of the situation, talked us through every stage and made things as easy as possible. "
"Cripps Pemberton Greenish facilitated discussions between family members and other professional advisers and were responsible for getting the deal over the line, resulting in a successful outcome.”
'The team are approachable and are trusted advisers to their clients giving clear and concise advice.'
A satisfied client reports: "The advice has been timely and consistent."
"They have understood the dispute well and their advice has taken the cost and benefit of each course of action into consideration."
"Cripps is dynamic, forward-thinking and client-focused."
"The firm is very open and accessible."