Insolvency and restructuring
Restructurings and insolvencies are often extremely complex. Our team of experts can guide you every step of the way.
We advise corporate carriers and Lloyd's syndicates on a broad range of insolvency and restructuring transactions, with a significant focus on run-off and exit solutions.
Our expertise spans the full range of transactions and processes and includes Part VII insurance business transfers, schemes of arrangement, company voluntary arrangements, administrations, liquidations and provisional liquidations, asset recoveries, cross-border insolvency and restructuring mandates and loss portfolio transfers.
Where we need to work alongside lawyers in other jurisdictions, we are part of the TerraLex network and have access to over 150 law firms in 100 jurisdictions across the globe.
Examples of work:
- Insurer insolvency - advising on the insolvency of Millburn Insurance Company (only the third insurer insolvency in the UK since 2001 and the first under the new Prudential Regulatory Authority and Financial Conduct Authority
- Insurer insolvency - acting for members of the London insurance market in relation to their position as outwards reinsurers of a New Zealand insurer which became insolvent as a result of the Christchurch earthquake
- Closure of London Market insurer - advising on the potential closure of a London market insurer by means of a Members' Voluntary Liquidation procedure without the need of a scheme of arrangement (the usual means of bringing finality to claims)
- Part VII transfer - acting for the London branch of a German insurance company in the proposed Part VII transfer of certain compulsory insurance cover from a reinsurer
- Schemes of arrangement - Implementing 15 unrelated schemes of arrangement of insurance/reinsurance companies, including the award-winning EW Payne Pool Scheme of 82 reinsurance companies