Restructuring and voluntary liquidations
We have an excellent reputation and proven track record on business restructurings, through advising on sale and asset transfer agreements, to support with buying assets and goodwill from insolvency appointees, including assisting with voluntary liquidations. We provide strategic advice to management to address the challenges faced by businesses to reduce costs and improve efficiency, whilst continuing to deliver quality service and an engaged workforce.
When required we can draw on support when required from Forbury People, our subsidiary HR consultancy that often work alongside us providing specialist skills on particular projects.
We are experienced in providing advice to businesses of all sizes who need to embark on a redundancy process of any scale. In addition to legal support, we can support with stakeholder engagement, communications support, scenario planning and project management. We can provide template documents for all aspects of the redundancy and consultation process, with in-depth expertise to help you anticipate and address more difficult challenges, from union negotiations and industrial disputes, to sensitive communications and employee engagement.
We take care to understand the underlying assets and liabilities of the business and your key objectives. Transferring assets and liabilities can be tricky and expensive if not done correctly. Working closely with you and your other professional advisers, we quickly identify those assets and liabilities that will form part of the sale and seek to ensure that the legal documentation properly deals with the transfer of such assets and liabilities including obtaining any third party consents and dealing with any novation and assignments.
Changing terms and conditions
Sometimes restructuring a business involves the need to get existing employees to adapt and/or accept changes to their terms and conditions of employment. However, change to T&C’s may involve having to comply with collective redundancy consultation processes and a careful analysis of the business case to avoid unfair dismissal and/or breach of contract claims. Over the years we have helped many clients with their changes to T&C’s to successfully navigate these sensitive issues, ensuring a smooth transition and restructure their businesses for the future.
“Significant experience in handling large-scale restructuring and redundancy programmes. Clarkslegal is ‘technically excellent but commercial’”
Read, listen and watch our latest insights
- 16 March 2023
Enhanced redundancy packages explained
The first payment to include in a redundancy package is the statutory redundancy payment. This must be paid to all eligible employees and the amount is set by legislation. Other mandatory payments on termination would also include accrued but untaken annual leave and unpaid wages. Some employers, where the contract allows, may make a payment in lieu of notice.
- 10 February 2023
- Restructuring and insolvency
Restructuring and Insolvency – what to expect in 2023
The flurry of economic forecasts over the last few months may reach slightly different conclusions but none give much scope for encouragement.
- 19 December 2022
- Commercial Real Estate
Commercial Rent Deposits – A brief overview
A rent deposit is money provided by a tenant to its landlord as security for payment of the rent and performance of the tenant’s covenants contained in the lease. A rent deposit deed will specify the circumstances in which the landlord can draw on this money and the conditions that must be satisfied for the deposit to be repaid to the tenant.
- 18 March 2022
Legal implications of P&O Ferries shock firing
The decision to cut 800 jobs has sparked outrage with staff staging sit-ins on the company’s boats and there have been calls from unions for strike across the country – but what are the legal implications of the decision of P&O Ferries?
- 22 February 2022
- IP and Commercial
Director’s duties: A practical example
The ‘General Director’s Duties’ are still seen by many as the pillars of correct corporate governance. Codified in the Companies Act 2006, these duties apply to executive, non-executive, shadow directors and de-facto directo
“I worked with Stuart on a matter relating to a mutual client which was suffering financial distress. His calm and pragmatic approach aligned well with my own firm’s values, and he provided huge assistance in guiding the directors through a turbulent time.”