Restructuring Boot Camp eLearning Series

Restructuring options

In the first session, we will be discussing the diagnostic approach to restructuring options and what drives the need for a restructuring. We will cover the range of potential options to solve a stressed / distressed scenario depending on the issues faced by the company, and we will briefly introduce how this will relate to the other topics on the course.

After completing this session, you should have the confidence to be able to break down stressed / distressed situations and assess the range of options potentially available to companies and creditors.

Writer:

Julia Marshall, Senior Director, Alvarez & Marsal - view bio

Directors' duties

In this final session of the Bootcamp series, we will be presenting to delegates on the topic of directors’ duties in corporate restructuring scenarios. 

This session will cover the range of situations in which delegates will need to consider the important subject of directors’ duties when working in their day-to-day roles, including when acting in an advisory capacity in relation to a distressed company (e.g. when assisting the board or the company itself) and also the many ways in which directors’ duties are relevant throughout a formal restructuring appointment.  

Following a presentation packed with practical tips and a solid grounding of the relevant statute and law, you will apply your learning to some interactive and topical case studies to help to consolidate your knowledge into your everyday working skills and experience.  

The session will end with an opportunity for any questions to be raised. 

Writers:

Jonathan Draper, Manager, Evelyn Partners - view bio

Morgan Bowen, Senior Associate, Mills & Reeve LLP - view bio

Part 26A Restructuring Plans

This session will provide an introduction to a Part 26A Restructuring Plan (“RPs”). We will focus on how they work, when it is appropriate to use an RP and the impact that an RP can have on stakeholders. 

We will also look at practical examples of RPs launched to date and the future outlook, including how they be used as a tool to help companies as the Government support schemes and restrictions on enforcement action come to an end.

Writers:

Simon Beale, Senior Counsel & Head of Insolvency, Macfarlanes LLP - view bio

Timothy Bromley-White, Senior Associate, Macfarlanes LLP - view bio

Contingency planning

This session will focus on Contingency Planning. We will look at the importance of effective contingency planning in restructuring scenarios, common themes and issues to look out for and how they are commonly dealt with. 

From attending this session, you will learn the importance of a contingency plan to help drive consensus around restructuring or to otherwise protect value for stakeholders (and ensure directors compliance with their duties) if consensus cannot be reached. 

Writers:

Francesca Amey, Managing Associate, Linklaters LLP - view bio

Saul Hoyland, Banking Managing Associate, Linklaters LLP - view bio

Independent Business Reviews

In this session, we will cover:

• What is an IBR
• Engagement mechanics and duty of care
• Planning the assignment
• Financial analysis – key areas 
• Drafting do’s and don’t’s 
• Factual Accuracy
• Conclusions/Recommendations 

Having attended this session, you will learn common practical pitfalls in an IBR assignment and how to avoid them.

Writer:

Rob Worsnop, Associate Director, Teneo - view bio

Key tax issues in restructuring

It would be easy to assume that companies in distress are unlikely to crystallise tax liabilities but with the largest tax code in the world, the UK regime has many pitfalls for the unwary.  This session is designed to give you a working knowledge of how such businesses can be restructured in a tax efficient manner.

We will be covering:

• The transfer of trade and assets around a group;
• Protecting tax losses, including on a pre-pack;
• The Substantial Shareholding Exemption and exit charges
• Tax efficient demergers
• Issues surrounding the disposal of land and buildings 
• Debt restructuring including CVAs
• The impact of the appointment of an Administrator or Liquidator on a group of companies.

Writer:

Anthony Newgrosh, Partner, BKL LLP - view bio

Engaging/managing creditors and stakeholders

The presenter will ensure by the end of the session that you understand the framework for engaging / managing creditors in complex situations and are able to build common consensus between stakeholder groups in the face of diverging interests.

Writer:

Robert Paterson, Partner, Wedlake Bell LLP - view bio