Post Crisis Financial Restructuring
Welcome back to the MKB Law blog!
In this entry we will be looking at the aftermath of the financial crisis, and discussing what legal options are available to businesses.
For many local firms the financial crisis which hit back in 2008 was a trying time to say the least, with some only now regaining some semblance of ‘normality’.
Many businesses have had to reorganise their financial practices and processes accordingly, specifically in regard to loans and debt. Meeting the demands imposed by both private and public lenders is not always an easy task; bringing in legal assistance is often the only feasible option.
Now, with recent revelations regarding international private equity firms, the demand for independent legal advice is on the increase.
At MKB Law, we have a number of solicitors who specialise in financial and banking legal services. Our team, including Director Gordon McElroy, Stuart Horner, Kyle Wimpress and expert banking consultant Ajay Sharma, have a proven track record of success throughout Belfast and Northern Ireland.
Below are the areas we can assist you with:
1) Debt Restructuring & Reassignment:
Being financially ‘distressed’ is unfortunately a term that is still prevalent in today’s current financial climate. Our team works closely with both borrower and creditor to ensure that a suitable resolution is reached. Ultimately our aim is to ensure that insolvency is avoided. In some instances, it may be necessary to assign a new creditor; in which case our team will ensure the legal transfer is completed quickly and efficiently.
The financial state of any business will have a direct effect on all those involved with its daily running. Maintaining the status-quo of a working environment is of paramount importance to any business. To this effect, financial agreements and conditions between a company and its creditors must be established. Our financial team works to ensure that the legal aspects of all standstill and settlement agreements are thoroughly adhered to.
Our team can also offer legal advice and assistance with Guarantees and LMA-style finance documents.
Unfortunately, in some instances, when a resolution cannot be reached between a business and a creditor, lawsuit proceedings become unavoidable. MKB’s specialist litigation team ensures that the process is carried out with the professionalism and discretion expected of such proceedings.
MKB Law offers independent legal advice for all businesses dealing with financial matters. Contact a member of our team today to discuss how we can help you and your business.
Call: 028 9024 2450