Pensions Restructuring & Insolvency

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.