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.
Much of our work is international, using our own London, Hong Kong and Singapore offices, and calling upon our international best friend network of law firms to provide further local expertise where necessary. This helps us ensure we find the best lawyer for the job – whether RPC or a partner firm – keeping cost down and providing high quality advice and service.
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