The Russian practice of Berwin Leighton Paisner
(BLP), an award-winning international law firm
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Corporate recovery & restructuring

What others say about us..

International firm with strong Russian roots noted for its abilities on the contentious side of restructuring insolvency.

Chambers Europe 2015

There are numerous reasons why a business may find itself in financial difficulties and these often need to be addressed immediately in order for the company to retain its good standing.

Moreover, the financial difficulties are very frequently accompanied by several operational problems, such as a drop in the company’s revenue, a fall in its liquidity, pressure from creditors and certain shareholders, and so on. These problems might have very grave consequences that are sometimes, unfortunately, irreparable.

On the basis of our experience, we have observed that financial difficulties are commonly discernible in a company long before a crisis occurs more importantly, these are often aggravated by a complicated and confused corporate structure that has emerged during a period of dynamic M&A activity and also unreasonably complex and incomprehensible business ties both within a group of companies and beyond it. Early identification of potential insolvency indicators and factors and rapid and effective solutions obtained from financial and legal advisors (provided that these are subsequently put into practice) might improve the company’s solvency and restore its value.

The global team of Corporate Recovery & Restructuring practice consists of more than 30 lawyers working from our offices in Moscow, London, Abu-Dhabi, Berlin, Brussels, Dubai, Frankfurt, Hong Kong, Paris and Singapore. Our specialists enjoy availability of professional documents and materials on restructuring matters accumulated over many years by both Russian and English practising lawyers. This allows us to implement restructuring projects of any complexity in the most efficient manner. It should be noted that the ultimate goal of our work is also to restore confidence between the business, its shareholders and creditors.

We possess many years’ experience of working closely with financial advisors, corporate management and shareholders and government authorities in implementing various financial recovery models, rendering the following services in particular:

Corporate recovery and restructuring. If a company (and/or its creditors, shareholders) faces a drastic drop in its financial indicators, we develop different models for debt restructuring and, if necessary, also asset restructuring purposes, aimed at continuous and sustainable rescue from the financial turmoil. This is carried out in cooperation with the client’s financial advisor or in consideration of the business model delivered by an independent advisor or by the client itself. We perform a detailed analysis of all the company’s debts and possible options for legal implementation of their restructuring in close liaison (where necessary) with various stakeholders - the management, shareholders, counterparties in general and creditors in particular. Once the optimum debt restructuring method has been selected for the given situation, we ensure that all the necessary resources are available to execute the restructuring and implement the developed and agreed programme legally.

As part of Corporate Recovery & Restructuring activity, in particular, we provide legal services along the following lines:

  • Assistance in transforming bilateral borrowing and lending relations into a syndicated loan /credit
  • Restructuring collateral and other security instruments
  • Corporate restructuring, including corporate structure optimisation. If the existing corporate structure is no longer fit for the business objectives, we assist our clients (and their financial advisor) in developing a new and more efficient business model allowing redundant components in the corporate structure to be identified, a portion of the business’s capital to be freed up and operating costs to be cut.
  • Business exits. If our client decides, for some reason, to exit a business, we develop and implement the legal part of the withdrawal plan. By engaging our specialists, a client is enabled to exit the business with minimum loss of time and funds and, wherever possible, to receive maximum financial returns.
  • Corporate finance, including bonds and convertibles
  • Insolvency. Bankruptcy. If it proves impossible to restore healthy operations and finance in a company, we assist our customers in considering the options for initiating bankruptcy proceedings and going through the process with minimum losses/ maximum financial yield for the customer. Depending on the actual situation, we also provide legal support to the company’s CEO, managers, shareholders, or creditors at any stage of the bankruptcy proceedings.

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Ian Ivory
Partner, Head of Corporate for Asia
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Anton Sitnikov
Partner, Head of Corporate / M&A
© 2009-2017 Law Firm Goltsblat BLP LLP, part of the Berwin Leighton Paisner (BLP) Group, is a limited liability partnership registered in England and Wales (registered number OC340589). Registered office: Adelaide House, London Bridge, London EC4R 9HA, United Kingdom. Winner - International Law Firm of the Year legal500 top ranked
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