Restructuring And Insolvency Solicitors
If your business is facing insolvency, or requires restructuring to ensure its profitability, you need a smart, sharp insolvency practitioner. You will find the best legal minds in the country at Solicitors Guru. (more...)
For restructuring to be an option, you need:
- a viable underlying business, although it may currently be saddled with too much debt
- early recognition of the distress, such as a financial forecast showing a likely covenant breach
- liquidity whilst restructuring is investigated-usually the company will draw down fully under any existing facilities as soon as possible
- support from the main stakeholders-usually the secured creditors plus existing shareholders
Restructuring may provide a solution when:
- an asset or part of the business (eg a legacy factory unit) is loss-making and draining resources
- rapid growth by acquisition means new businesses have not been properly integrated
- there's loss of a major customer
- there's loss of a major supplier
- pensions liabilities are high
- base costs have increased (eg many airlines were hit by increased fuel costs)
If your business is in serious financial trouble, the worst thing you can do is stick your head in the sand. You need experienced legal advice, and fast. A specialist insolvency and restructuring solicitor will assist you in realising assets and turning around your business, if it is salvageable. They can also assist you with negotiating deals with creditors, exploring debt restructuring options, informal arrangements and work-outs.
Finding the right restructuring and insolvency lawyer for you
You can search or browse through thousands of solicitors on Solicitors Guru. We have carefully selected the best restructuring and insolvency solicitors in your area. But we add more value by allowing former clients to comment on the service they received and give a rating to the law firm, so you can make an informed choice.
If your business is in financial difficulty, find a restructuring or insolvency solicitor who can assist you by using Solicitors Guru today.
- Insolvency Solicitors London
- Insolvency Solicitors Manchester
- Insolvency Solicitors Birmingham
- Insolvency Solicitors Nottingham
- Insolvency Solicitors Bristol