We were instructed over a weekend to advise potential administrators on their appointment over a UK distribution business on an extremely urgent basis.
Although an out of court director appointment with no floating charge holders (meaning we could move straight to appointment) it was complicated by having a Japanese cross border element requiring us to work with overseas lawyers navigating different time zones and complex legal issues. The appointment was liable to be contentious hence the time sensitive nature of the appointment.
Acting in a co-ordinated team effort with our Corporate and Commercial team, we successfully obtained the administrators’ appointment in a matter of days.
We have also advised on post appointment matters including the exercise of their powers to gather in and deal with property, challenging purported liens by creditors, advising on creditor claims and a potential asset sale.