There are a variety of options available to companies in financial difficulty, from restructuring the business or debt to more formal insolvency procedures. Where a business is being hard pressed by creditors or regulators, directors must take advice on their position and obligations under the law. Failure to do so can lead to personal liability. Moreover, under current case law, taking advice can protect the director if the advice is followed. In cases of insolvency, creditors may also require expert advice to manage their exposure to losses.
Turnaround, recovery and insolvency services can cover a range of situations, from pre-lending and solvency reviews to fraud investigations, advice on directors’ responsibilities, asset tracing and enforcement of personal guarantees. Your advisers should be focused on getting you the best outcome for your specific circumstances and help you manage the various stakeholders.
Meeting your needs
Our goal is to provide clear, pragmatic advice to maximise the possibilities for ongoing business operations – regardless of the approach used to resolve a distressed situation. This often involves acting as a bridge between key stakeholders to find the best solution.
Our specialist team of restructuring and insolvency professionals has vast experience advising organisations across a range of industries encountering financial difficulties. Our clients include company boards, owners and shareholders, lenders, borrowers, customers, employees and other individual creditors.
Trust in your advisers is never more important than in testing times. We will work closely with you to understand your situation, look at things from your point of view, help shoulder the burden of difficult decisions, deal with creditors on your behalf and make sure you understand all your options. We can help pull together all the relevant information quickly to enable you to make critical decisions.
You’ll have direct access to senior advisers with specialist expertise in your industry sector. We’ve developed a series of high-quality solutions tailored to different sectors and you can benefit from our trusted relationships with key industry contacts and funders where necessary.
Smith & Williamson is delighted to be category sponsor at the TRI Awards 2019 and sponsor the Award for Corporate Restructuring Lawyer of the Year. This Award is open to lawyers specialising in insolvency who provide legal and/or advisory services in the corporate restructuring process.
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How we can help
A top ten UK accountancy firm, as ranked by Accountancy Age. (Source: Accountancy Age, 2018)
A substantial team of highly skilled, qualified accountants and insolvency practitioners.
Involved in numerous high-profile restructuring and formal insolvency cases over many years.
The majority of our work comes from referrals through our established relationships with intermediaries and former clients.