Insolvency or bankruptcy is often wrongly thought of as being “the end of the road” for a company. On the contrary, it can facilitate the restructuring and emergence of a viable business. Timely involvement of experts is key to protecting value – whether that is to provide a credible fallback plan or to help 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 maximise 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 – whether that is to provide a credible fallback plan to protect value or to help to shape and affect a restructuring.
Contingency planning typically involves careful stakeholder analysis and assessment alongside a commercial and legal review of a company’s financial position to protect a client's interests and the value of their claim. In many cases, contingency planning can help to avoid formal insolvency.
Company Voluntary Arrangement (“CVA”) - UK
A CVA can provide an opportunity for a company to restructure or compromise its liabilities to unsecured creditors and continue as a going concern. We have market leading experience in driving an open and honest dialogue with stakeholders to secure support for CVA proposals and deliver the formal process.
Restructuring Plan (“RP”) - UK
This new and powerful insolvency process provides a route to delivering complex restructurings which bind different creditor groups with the support of an anchor creditor class. Our team has had leading roles in all of the recent high-profile RP cases, providing us with the insight and expertise to assess for clients whether this is a viable option, how to shape a plan and, using comparator analysis, deliver the desired outcome.
Scheme of Arrangement (“Scheme”) - UK
In support of the legally driven Scheme of Arrangement, we are highly experienced in assessing and shaping the ‘Comparator’ which frames the alternative outcome for a Company should the proposed Scheme not achieve the requisite levels of support.
Administration - UK
Administration Orders offer companies with a viable business, but which are otherwise financially distressed, breathing space during which plans can be formulated to restructure or refinance, thereby preserving value and protecting employment. Using the “out of court” route, an administration order can be quickly and efficiently obtained, providing an immediate moratorium against creditor action.
Pre-packs - UK
This refers to the process where the sale of a company’s business or assets is agreed prior to the commencement of a formal insolvency process, but the sale is only completed after the appointment of the insolvency office holder (“the IP”). The period between appointment of the IP and completion of the transaction is usually very short (sometimes only a matter of hours).
Creditors Voluntary Liquidations (“CVL”) - UK
In certain circumstances, there may no longer be a viable ongoing business and the Company’s life needs to be brought to an end. It is important to deal with this properly to avoid personal liability issues for directors. Our team brings the expertise to support directors in approaching this in line with legal requirements and taking the formal appointment that follows.
Chapter 11 and 15 Bankruptcy Processes - US
US bankruptcy processes are complex and time consuming for companies to navigate. Detailed planning, administration and management is required in advance of, during and coming out of any bankruptcy filing.
Contentious Insolvency - Global
Business failures can result from inappropriate actions by parties connected to the business. These issues are often complex and multijurisdictional. Our team combines insolvency experience across many jurisdictions with forensic and asset tracing skills. Working closely with legal advisers, we take control, investigate the issues and recover value through asset tracing and litigation.
International Finance Centre Insolvency Processes - Global
The international nature of many structures requires an understanding of the insolvency and restructuring options available in International Finance Centres. Our experienced team brings expertise in solvent and insolvent appointments across many jurisdictions including Guernsey, Jersey, Dubai, Abu Dhabi, the Cayman Islands and the British Virgin Islands.
Teneo Restructuring Limited is registered in England and Wales, Company number 13192958.
The insolvency licence holders of this practice are licensed insolvency practitioners in the UK by the Institute of Chartered Accountants in England and Wales.
Teneo Restructuring Limited is regulated by the Institute of Chartered Accountants in England and Wales for a range of investment business activities.
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