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MBM's enhanced restructuring offering

You will probably be aware that Michael Arnott joined MBM in January of this year to head up our new London office. Michael’s corporate expertise has been vital in expanding the London practice and establishing the office; however, Michael is also particularly well known in the London Market for his restructuring and insolvency practice.

He is currently advising the administrators of the Austin Reed group, as well as acting on a number of smaller insolvencies. When he worked at Weil Gotshal, he advised on the bankruptcy of Lehman Bros Holdings Inc and Kaupthing.  There were also a number of hedge funds and creditors holding distressed debt who sought his advice about how best to realise the debts they were owed.

All of this expertise has allowed the new London office to act on a number of transactions for investors in special situations. For example, we have advised Agathos in relation to their acquisition of Silverstar Foods Ltd, in which there was an acquisition of shares and the introduction of loans with a complicated ratchet structure.

Sometimes our clients set out to invest in distressed or special situations, but most of the time financial pressure is an unwelcome visitor. Whether your business is suffering from some kind of financial difficulty or you are a creditor with a non-performing loan we can help you find the best way to work it out.

Directors of limited companies need to be particularly aware of the consequences of insolvency. There can be personal liability. Directors are used to acting in the best interests of the company; of their shareholders. As financial pressure mounts these duties change subtly, and if the point in time comes when directors cannot avoid an insolvency their primary duty is owed not to shareholders but to be creditors of the company. It is often difficult to identify exactly when this change occurs. We can help.

Start-ups and growth stage businesses often flirt with an inability to pay debts. Ultimately the proof is in the pudding and entrepreneurs are prepared to take risks which directors of more established businesses are not. If they succeed this is all academic, if they do not then they must seek legal advice.

There is a range of insolvency processes available to companies and individuals, and we have experience in all of them.

Unless you are one of our clients who actively seek out distressed opportunities, then we hope you won't need to ask us for insolvency related advice, but if you needed we now have this additional string to our bow. Because of our client base of investors in distressed situations, we are also able to introduce clients in financial difficulty to funds when they have been unable to find them elsewhere.

Michael Arnott
Partner and Head of London Office
0203 096 0112

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