Business Recovery Flier

Tughans’ Business Recovery Unit is made up of lawyers with experience in corporate restructuring and insolvency work - areas including property, banking, litigation, construction, employment and intellectual property. Their knowledge in a range of disciplines is well suited to this type of work and ensures that clients are recommended appropriate and creative commercial solutions.

‘Business recovery’ often conjures up negative images. At Tughans, we try to view positively any business difficulty and to provide positive legal advice while always ensuring your legal position is protected. In situations, where recovery proves impossible, we will provide help on insolvency procedures.

Corporate Advice
Our team of solicitors can assist and provide restructuring, turnaround or insolvency advice to:

• Insolvency practitioners, turnaround experts, business advisers, administrators, receivers and liquidators concerning their appointment, realisation of assets and sale of property or business.
• Banks and other creditors who wish to improve, realise or enforce their security
• Company Directors particularly in relation to their duties and responsibilities, including wrongful trading and in re-negotiating terms with lenders.
• ‘Financially distressed’ companies who may wish to consider various recovery procedures.
• Potential purchasers wishing to acquire a business and assets from a liquidator, administrator or receiver.

Depending on the ‘diagnosis’, we will suggest the most appropriate solution. In the course of our investigations, we can consider and advise on any of the following options:

• Rescue, recovery or reconstruction
• Administration orders
• Company voluntary arrangements
• Dispute resolution including mediation
• Directors’ duties and liabilities
• Re-negotiating/restructuring terms relating to debt and debt re-scheduling
• Cross-border and international issues
• Members’ voluntary liquidation
• Insolvency procedures.

Corporate Re-structuring
If a commercial venture is felt to be viable, consideration may be given to re-structuring the business.
Options may include:

• Hive-down/hive-outs
• Debt to equity conversions
• Mergers and amalgamations
• Management buy-outs.

All-Ireland and international links
Supported by colleagues in our associate firm in Dublin, William Fry Solicitors, we are able to advise on reconstruction issues with an all-Ireland dimension. We also have close links with other firms principally in the City of London and in the United States of America. Consequently, the firm regularly handles the Northern Ireland aspects of multi-jurisdictional transactions.

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For further information, please speak directly to any of the following members of our Business Recovery Unit.