Insolvency & Bankruptcy
Insolvency or bankruptcy is often thought of as “the end of the road” for a company. On the contrary, it can facilitate the restructuring and emergence of a viable business. However, timely involvement of experts is key to protecting value – whether that is to provide a credible fallback plan or to help to shape and implement a comprehensive restructuring.
Insolvency processes differ by jurisdiction and require the expertise of qualified professionals whose role can either be light-touch to affect a transaction, or more comprehensive, where they take responsibility for the running and direction of a company. The responsibility of an Insolvency Practitioner or Bankruptcy Trustee in any situation is to determine options for the rescue of a company or to maximize the value of the assets to repay the liabilities of a business. While they have autonomy to operate within an insolvency framework, the decision and approval on the way forward is voted for by the creditors of the company.
Teneo’s expert team brings decades of experience in establishing and delivering contingency plans and insolvencies across multiple jurisdictions, providing credible fallback plans to protect value or helping to shape and affect a restructuring.
Company Voluntary Arrangement (“CVA”)
Restructuring Plan (“RP”)
Scheme of Arrangement (“Scheme”)
Creditors Voluntary Liquidations (“CVL”)
Chapter 11 and 15 Bankruptcy Processes
Bankruptcy-Court Appointed Examiner or Chapter 11 Trustee
International Finance Centre Insolvency Processes
Details of the entity providing services, legal and regulatory information in respect of the Teneo entity are also included in our engagement letters.
Specific information relating to our regulated entities which provide services to clients is detailed below:
|Registered Name||Legal Form||Registration Location and Reference||Registered Office||Data Protection||Regulator(s)||Professional Indemnity Insurance|
|Teneo Financial Advisory Limited||Limited Company||England & Wales, 13192958||5th Floor, 6 More London Place, London, SE1 2DA||UK - ZA920639||The Institute of Chartered Accountants in England and Wales (“ICAEW”) C008873136. All insolvency practitioners are licenced by the ICAEW. ICAEW Designated Professional Body licence for a range of investment business activities.||Details of the professional indemnity insurer can be provided on request.|
|Teneo Securities LLC||Limited Liability Company||USA - Delaware||280 Park Avenue, 4th Floor, New York, NY 10017||N/A||Financial Industry Regulatory Authority (FINRA) #151256. Securities and Exchange Commission (SEC).||Details of the professional indemnity insurer can be provided on request.|
Teneo Securities LLC’s Business Continuity Planning
Teneo Securities LLC has developed a Business Continuity Plan (“BCP”) on how we will respond to events that significantly disrupt our business. Since the timing and impact of disasters and disruptions is unpredictable, we will have to be flexible in responding to actual events as they occur. With that in mind, we are providing you with this information on our BCP.
The Firm has developed and installed a BCP in the case of any business disruption that causes the Firm to have limited or no communications with its employees or customers. Our plan anticipates two types of business disruptions, internal disruptions which affect only our Firm’s ability to do business (such as a fire in our building) and external disruptions that prevent the operation of securities markets or other firms (such as natural disasters or acts of war).
The Firm intends to stay in business during both internal and external disruptions due to the fact that the Firm employees can conduct Firm related business from alternate off-site physical locations and the Firm maintains an alternate location for the maintenance of its books and records. We anticipate that the Firm will recover from internal business disruptions within 24-48 hours. An outage due to an external business disruption may be longer and is beyond the control of the Firm. However, the Firm will endeavor to resume business as soon as it is possible for the Firm to establish business operations from alternate off-site physical locations.
The Firm’s BCP specifically addresses the following areas related to Firm operations:
- Data back-up and recovery (hard copy and electronic);
- All mission critical systems;
- Procedures to test and determine the Firm’s ability to do business (i.e., financial and operational assessments);
- Alternate communications between customers and the Firm;
- Alternate communications between the Firm and its employees;
- Alternate physical location of employees;
- Critical business constituent, bank, and counter-party impact;
- Regulatory reporting; and
- Communications with regulators.
If you have questions about our business continuity planning, you can contact us (212) 886-1600.