Distressed debt

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:

Lehman claims

  • 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.

Additional information