Partner Profiles

Jeremy Walsh

Jeremy joined Travers Smith in 1993 and has headed our Banking department since 2007. He specialises in advising on acquisition finance and debt restructuring.

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Contact

If you would like us to talk you through how we can help your business, please contact:

Head of Banking & Corporate Recovery:
Jeremy Walsh

Restructuring

At Travers Smith, we are best known for our skills and experience on corporate and banking transactions.

With this in mind, we have taken a positive decision to establish a dedicated Restructuring Group headed primarily by senior Banking, Insolvency and Corporate lawyers. This will give our clients access to top quality legal advice from experienced practitioners who not only understand how complicated transactions work in "normal" situations but who are also fully equipped to handle the different context, pressures and tactics where a company faces distress.

“They're cost effective and have a practical approach to ensuring the greatest chance of business survival...”

Chambers UK

Our breadth of experience means we understand the full life-cycle of a business, including not just the immediate threats, but also the overall objectives of the company and its stakeholders and the need to exit the distressed phase through a viable restructuring transaction.

The Group is partner-led, an attribute we feel is of significant importance given the general gravity and sensitivity of the situations being handled. Our clients appreciate being able to obtain advice from specialists who are experienced, pragmatic and commercial. We offer an integrated approach where the members of the Group assess the scope of the restructuring assignment at the outset and call upon any necessary relevant specialists from across the firm to provide the best advice for each assignment in a co-ordinated manner.

Our clients include major banks, subordinated lenders, private equity houses, companies, directors, purchasers of distressed debt or businesses, pensions scheme trustees, overseas law firms and turnaround and insolvency practitioners.

We provide the full range of services which may be needed to effect a successful restructuring or turnaround including advising on:

  • directors' duties and liabilities
  • covenant resets and facility amendments
  • standstill and support arrangements
  • debt rescheduling
  • debt-to-equity conversions
  • disposals, acquisitions and group reorganisations
  • refinancings
  • equity fund-raisings
  • management incentivisation
  • debt or business transfers
  • listed company disclosure obligations
  • insolvency and rehabilitation procedures such as administrations, company voluntary arrangements (CVAs) and schemes of arrangement
  • cross-border insolvency recognition and co-operation; and
  • related pensions, tax, litigation, intellectual property, commercial, real estate, regulatory, financial services and markets and employment advice

We offer an initial consultation, free of charge, to carry out a preliminary assessment of the situation and the options that may be available.

We have advised:

  • the Bank of England and BDO on the bank liquidation of Southsea Mortgage and Investment Company Limited, the first use of the "bank insolvency procedure"
  • retailer Clinton Cards PLC on the extension of its facilities from The Royal Bank of Scotland and Barclays and on the administration of Birthdays
  • TJ Hughes on the restructuring of its asset based lending facilities from Burdale, prior to entering into administration
  • Blacks Leisure Group plc on its restructuring, including a CVA
  • Acertec Group an international supplier of car body products and services under its Stadco division on its restructuring and refinancing
  • Midas Capital on a debt for equity swap
  • Hermes Private Equity on the shareholder debt and equity restructuring
  • Bridgepoint and Societa Europea Auto Caravans S.p.A. in relation to a security restructuring of AutoSleepers Holdings Limited through a CVA
  • management of SSP Finance on a restructuring and scheme of arrangement
  • ntl on its $20bn debt restructuring and exit from US Chapter 11 bankruptcy