Insolvency & Restructuring
Babbé LLP can provide immediate and comprehensive legal advice on all aspects of rescue and reconstruction, receivership, administration, liquidation, security enforcement, advice on directors' duties, cross-border proceedings and, if necessary, litigation.
We can provide advice on debt re-structuring, extension and re-negotiation of finance arrangements, standstill arrangements, bank rescues, work-outs and schemes of arrangement to bind creditors.
Advice is available to directors and officers to ensure a full understanding of their duties and the possible exposures faced in insolvency, such as claims for wrongful or fraudulent trading, actual/potential transactions at undervalue and arguments of "commercial benefit".
We have wide experience of advising banks on enforcement of security, including the initial assessment of enforceability, drawing up the documentation to commence the enforcement process and co-ordinating the service of demands.
We regularly advise liquidators and creditors on all aspects of insolvent liquidations from the protection of assets, transactions at undervalue and the validity of creditors' claims, through to wrongful and fraudulent trading and set-off.
Babbé LLP acted in the Flightlease liquidation in a dispute between group aircraft leasing companies involving issues of double insolvency and subordination agreements.
Babbé LLP was the lead firm in Guernsey's first ever Scheme of Arrangement under provisions introduced by the Companies (Guernsey) Law, 2008 which are applicable in administrations as well as in general restructuring.
Babbé LLP advised the liquidators of a fund PCC in members voluntary liquidation, one of the cells of which was facing a multi-million Euro arbitration claim.
Babbé LLP partner Ian Swan is the advocate to the Informal Creditors Committee of Landsbanki Guernsey Limited (in administration).