A firm to rely on in adversity


1st December 2018

Legal Briefing


WHILE the Corporate and Commercial Team of Northamptonshire-based regional practice Tollers LLP has been thriving under the leadership of Craig Harrison, uncertainty in the market for business continues with the shadow of Brexit still looming large.

So if, or indeed when, trading does become more difficult for those businesses, it is reassuring for the market to know that they can still rely on Tollers when faced with adversity.

Tollers Solicitors is one of the few practices in the market that can boast a dedicated Corporate Recovery and Insolvency Team. Headed by Managing Partner, Duncan Nicholson, who has in excess of 20 years' experience in dealing with corporate recovery and insolvency, and supported by dual-qualified Nicola Holton and solicitor Kate Draper the established team is a first choice for insolvency practitioners, businesses and stake holders when it comes to considering complex matters arising out of insolvency.

Even when businesses are forced into insolvency, there are still plenty of deals to be done and in the last few weeks alone, Duncan and the team have acted and completed on two transactions of some significance arising out of formal insolvencies.

In respect of the first of those two, Tollers acted for joint administrators in the £1.5 million disposal of the assets of a business that provided services to the building and construction industry.

While the transaction was far from straightforward and involved detailed negotiations with both past and future funders of the business, eventually terms were agreed, the assets sold and the business saved along with the jobs of all of its employees.

A few days later and rather than dealing with a disposal, the team were instructed to acquire the assets of a Northamptonshire-based live events and marketing company that had also gone into administration. Once again, there were issues to be resolved relating to the bank funding before the business could be saved but once again, these were overcome and the transaction eventually completed.

The team, and in particular Duncan Nicholson and JIEB qualified Nicola Holton, are renowned insolvency specialists and are highly regarded for their skills, knowledge and expertise.

Duncan Nicholson said: "While it is impossible to predict the outcome of both the Brexit negotiations and the state of the British economy thereafter, there is clearly some uncertainty in the market. While business activity in the region appears to be standing up well in the face of that uncertainty, inevitably there still will be business failures. The effect of those failures on the market can be significantly reduced if some or part of the business can be sold and saved. Taking the right advice at the earliest possible opportunity is more likely to achieve that end."

Tollers believe in exceptional people, exceptional service and exceptional delivery.

For more information on how Tollers' Corporate Recovery and Insolvency Team can assist contact them on 01604 258558.