In difficult economic climates, suppliers may have customers who are in financial difficulty and unable to pay for goods and/or services supplied.
We help clients mitigate their risk and exposure to a customer becoming insolvent by providing our clients with appropriate, timely advice, including advising on the terms and conditions of supply contracts and enforcement rights.
We understand that in these situations time is critical, whether for preventing additional losses or recovering assets in a third-party location.
As we regularly act on the other side of the fence, we can assist clients with negotiations designed to improve their position or protect them from a worsening one.
We also provide secured and unsecured lenders with strategic advice on how to maximise recoveries, including, if necessary, implementing the provisions of the Insolvency Act 1986 to recover assets and/or overturn prior transactions.
With Shoosmiths, you can rest assured that our highly experienced team will work to recover your assets or explore other options available to you.
We advise on:
- Supplier creditors seeking to recover goods supplied to insolvent entities
- Real estate clients on the insolvency of tenants and/or landlords
- Creditors on their rights and remedies when a debtor is restructuring its affairs or enters a formal insolvency process
Recent experience includes:
- Advising the secured creditor in connection with Superdry PLC’s Restructuring Plan
- Advising a group of landlords in connection with their challenge to the Debenhams CVA
- Acting for clients seeking to exercise their retention of title claims, including administrations of high-profile retailers, which involved clients' stock located at a large number of retail outlets.
