Insolvency, Restructuring & Finance
La Gro’s Insolvency, Restructuring, Finance and Securities Team assists clients in all matters relating to insolvency, financial/organisational restructuring of businesses, arranging finance, and establishing and enforcing securities. Our team has vast experience of restructuring businesses, with or without recourse to the Whoa, in the role of administrator in possibly complex bankruptcy cases and in assisting companies who are facing financial hardship. Our team also has wide-ranging experience in advising and conducting litigation in respect of finance and related securities, assisting directors in directors’ liability proceedings, and creating relaunches following bankruptcy. Our expert team is able to move quickly and provide clarity in often complex situations. When necessary, we work in multidisciplinary teams with specialists from other relevant specific areas, such as our M&A, Corporate and Employment Law Teams (both within and outside of the firm)
Attorney at law
What we can do for you
When starting up or expanding a business, there is usually a requirement for finance. It is important for all parties in a finance relationship that the finance arrangements, and any securities agreed along with it, are set out in carefully considered documentation. Our clients include large banks and other financial institutions and our team can advise on financing and refinancing, as well as the establishment of securities. We also have vast experience of securities enforcement and conducting all kinds of legal proceedings in this area. The establishment and possible enforcement of securities may involve security interests such as mortgage rights, liens and subordinations. We also regularly advise and conduct litigation in respect of personal security interests, such as surety bonds.
When businesses in financial hardship are restructured, the Dutch Homologation of Private Arrangements Act (Whoa) may be invoked. By invoking this legislation, reluctant creditors and shareholders can be bound by a private agreement. Our team is experienced and well-versed with the Whoa and we also have a wide network of financial specialists who can help navigate the financial aspects of a Whoa-related process. Our team can advise on whether the Whoa could be a solution for your business. Are you at the receiving end of the Whoa being invoked by another party? If so, swift action is crucial. Our team can clarify your position and initiate the appropriate action.
As a director and shareholder, you are in a special position. As a financier and/or director, you also have your own interests. If the business falls on hard times, there may also be consequences for you. Will you arrange additional finance? Will you continue with the business or is this no longer an option? Are you possibly liable to any third parties or an administrator who will be appointed? Did you guarantee the business’s obligations to any third parties, for example as a guarantor? These are all matters we can assist you with.
When a business is facing financial difficulties, it is good to have a sparring partner, such as an attorney at law, who can anticipate and offer assistance when crucial decisions need to be made about whether to try and save or terminate the business, and who can negotiate with parties such as creditors, banks, or the tax authorities.
When a supplier or debtor is facing financial difficulties, it is often necessary to act quickly. It is preferable to have matters resolved before a bankruptcy is initiated, but even during bankruptcy proceedings, there will still be opportunities to fight your corner. We have years of experience as administrators and know how to prevent or mitigate damages for our clients. In the event of a relaunch, our team will act quickly. We can conduct the negotiations with the administrator and know exactly where the challenges of a relaunch are. In a bankruptcy case, a director may feel reassured when the attorney at law speaks the same language as the administrator. With their vast experience as attorneys and bankruptcy administrators, our specialists are perfectly placed to fulfil this role.
