Debt Recovery, Restructuring and Insolvency (DRI)
The firm has established Debt Recovery, Restructuring and Insolvency Unit that provides unmatched services to its corporate clients specifically banks, micro finance institutions and private companies.
The Unit is comprised of a specialised team of experts and/or legal professionals, well versed in corporate commercial transactions, litigation and insolvency matters. We ensure that our Clients maintain good business relationships with their customers by limiting exposure to residual litigation, and only apply court recovery mechanisms where the relationship between our Clients and their customers is irretrievably broken.
We offer expert legal advice and guidance on all types of debt recovery related issues and advise debtors in distress. Our practice area covers the following:
i. General Debt Recovery
Our scope of work includes recovery of secured and unsecured loans, contacting debtors to implement repayment schedules and terms, carrying out asset tracing and forensic audits, advising clients on the protective measures to put in place to reduce the risk of bad debts and distress for rent.
We also review loan agreements, credit facility agreements to ensure the agreements are in compliance with the applicable laws and fully protect the interest of our clients.
ii. Debt Recovery Litigation
We apply court recovery mechanisms where the relationship between our clients and their customers are irretrievably broken.
We have successfully prosecuted and defended recovery claims against our clients in both the subordinate Courts and the superior Courts. We have also prepared and responded to various interlocutory applications, seeking varied interlocutory and interim reliefs for our clients. Further, our team has vast experience in alternative dispute resolution including representing clients in arbitration and mediation proceedings.
iii. Corporate Restructure & Insolvency
We represent clients in all aspects of restructuring, workouts and insolvency matters, including both transactional and litigation matters. We deliver innovative financial solutions for our clients who expect us to understand complex financial products and key market trends, and implement solutions as quickly and efficiently as possible.
The team provides the following diverse portfolio of client related services to include:
- Formal restructuring procedures e.g. schemes of compromise, schemes of arrangement and debt, equity swaps, exchange offers, business rescue and liquidation;
- Distressed M&A transactions including purchase and sale of whole businesses or of key assets such as real estate, leasehold interests or intellectual property;
- Equity capital raising and restructuring;
- Debt restructuring and rescheduling, both creditor-led and debtor-led;
- Forbearance arrangements;
- Counselling board of directors, private equity sponsors and their portfolio companies;
- Cross-border restructuring; and
- Contentious insolvency litigation including litigation regarding leveraged buyouts and dividend recaps, debt and lease re-characterization, breach of fiduciary duty, fraudulent transfers and preferences.
The Unit employs all diligence to ensure strict adherence of the procedures provided for under the applicable statutes in each matter. We take cognizant of the fact that non-compliance of any steps provided for under the law or any departure from such procedures e.g. matters pertaining distress for rent, execution of decrees, statutory power of sale inter alia would of necessity vitiate the process and render it liable for challenge by the aggrieved party.
Our experience is unsurpassed. We have a long track record of advising debtor and creditor constituents in all parts of the capital structure. We can tell you not only what we think stakeholders will do, but also what we have actually done on their behalf in similar situations.