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Restructuring & Insolvency

Sunday, 25 August 2019

Our Restructuring & Insolvency department is a recognised leader in the field.


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Peter Hughes

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+44 (0)20 7295 3377

Peter joined Travers Smith in 2004 and is a partner in our Finance department. He specialises in Restructuring & Insolvency and Derivatives & Structured Products. He has extensive expertise in relation to funding, investment and restructuring solutions for pensions clients.

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

  • directors' duties and liabilities
  • standstill and support arrangements
  • debt rescheduling and distressed re-financings
  • debt-to-equity conversions including as part of a loan-to-own strategy
  • disposals, acquisitions and group reorganisations
  • distressed equity fund-raisings
  • debt or business transfers (on a single asset or portfolio basis)
  • 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
  • related pensions, tax, dispute resolution, intellectual property, commercial, real estate, regulatory, financial services and markets and employment advice

Our clients include private equity houses, distressed investors, lenders, companies, management teams, pension scheme trustees, restructuring officers and insolvency practitioners.

“Really know their stuff in relation to the turnaround and private equity restructuring market.”

The Legal 500

“Cost-effective and have a practical approach to ensuring the greatest chance of business survival.”

Chambers UK

Recent examples of our work include advising:

  • an international investor group led by Promethean Investments on the acquisition of Albemarle & Bond out of administration
  • Clinton Cards on its restructuring, refinancing and administration and Zolfo Cooper LLP as its administrators
  • Blacks Leisure Group on its restructuring, including two CVAs in 2009, and subsequent refinancing.  We also advised KPMG LLP as administrators in selling the Blacks and Millets businesses to JD Sports
  • Chorion Group on its restructuring and disposal programme
  • various creditors of the Lehman group including the trustees of the Lehman Brothers Pension Scheme
  • Primary Capital on the acquisition of the Tobar and Hawkin's Bazaar businesses out of administration
  • TJ Hughes on the restructuring of its asset based lending facilities from Burdale, prior to entering into administration
  • Stadco Automotive on a complex restructuring and refinancing, including addressing obligations under two defined benefit pension schemes
  • Midas Capital PLC on its debt/equity swap and refinancing
  • the management of SSP Financing Limited on its scheme of arrangement and debt restructuring
  • Bridgepoint and Societa Europea Auto Caravans S.p.A. in relation to a security restructuring of AutoSleepers Holdings Limited through a CVA