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Pensions Restructuring & Insolvency

Dealing with financial distress and restructuring a business is never easy.  It’s often a complex process, particularly when a defined benefit pension scheme is involved. The restructuring and pensions teams work closely together to provide specialist advice to employers, trustees and financial stakeholders.

We’re usually called in to work on restructurings which involve defined benefit pension schemes, or matters arising as a result of the financial distress or insolvency of an employer.

We have a lot of experience advising  trustees and employers in connection with matters arising from distress.  We advise trustees and employers, which means that we understand the requirements and priorities of both and we’re perfectly placed to provide practical and pragmatic solutions.

Pension schemes are often material creditors and engagement with scheme trustees in distressed situations has become even more important in recent years. Our experience means we can give advice not only in connection with trustee/employer negotiations but also negotiations with the Pensions Regulator and the Pension Protection Fund.

We help clients with the measures required to avoid formal insolvency and we’ll help you understand what happens if a formal insolvency is unavoidable.

Depending on the level of distress, we typically help our clients with the following:

  • Mitigation packages including advising in relation to escrow arrangements, security, standstill arrangements
  • Asset backed funding arrangements
  • Bespoke contingency arrangements
  • Bespoke arrangements to facilitate a business turnaround
  • Regulated apportionment arrangements
  • The impact of formal insolvency upon the scheme
  • Entry of a scheme into the PPF

Our engagements usually require us to work closely with actuaries and covenant advisers and we’ve built a strong network of professional advisers working in this area.

Insights

“Walker Morris are head and shoulders above the rest of the competition. I personally regard them as a go-to.”

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“A very professional set up, with bright solicitors working there and strong support teams. Always go the extra mile for their clients.”

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“In my experience of working with Claire Askew on a number of cases over the past 12 months and indeed several years, Claire is very experienced, knowledgeable, professional, friendly and efficient in her role. I would highly recommend Claire and indeed Walker Morris as a legal firm.”

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“The team has a pragmatic approach and looks to find solutions to problems. It combines a good technical knowledge of the law with an understanding of what parties are trying to achieve.”

Legal 500

“The members of the Walker Morris team are real people that you can engage with and work with. Working with Walker Morris feels more like an extension of our team than a relationship with an external adviser.”

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Claire
Askew

Partner

Restructuring & Insolvency

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Claire's contact details

+44 (0)113 283 2619

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Jo
Ratcliffe

Partner

Head of Pensions

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Jo's contact details

+44 (0)113 399 1827

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Liz
Graham

Partner

Pensions

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Liz's contact details

+44 (0)113 283 4472

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Ruth
Bamforth

Director

Pensions

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Ruth's contact details

+44 (0)113 283 4570

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