9 months ago
Restructuring & Insolvency
About Gowling WLG
We have more than 1,400 legal professionals working around the world. Our offices span across 19 cities in Canada, the UK, Continental Europe, Asia and the Middle East. There's strength in our global presence – we embrace our differing cultures and work together as one team. We also understand the importance of investing in relationships that build knowledge and trust, while we provide legal advice that's tailored to our clients' world.
'Our people and distinct culture are what makes us different. We know this through client and employee feedback and this drives everything we do'' Chris Oglethorpe, HR Director.
There are great opportunities for all our people to flourish. Through training and personal development they can grow in their role. Our people are the cornerstone of our success, across legal, business support and early talent. We care about their happiness and believe in the power of teamwork. We want them to feel empowered and recognise that by supporting, respecting and embracing everyone's different contributions we achieve more.
Working flexibly, working fairly
Agile working offers people more freedom and flexibility in where, when, and how they work. As technology advances and our workforce becomes more diverse – and with clients often working to a 24/7 rhythm – having extra flexibility is key to helping us balance work and other commitments sensibly and productively.
By supporting people to choose where and when they get their work done, we help them to make a full and fair contribution to their team – while maintaining that all important work-life balance.
Where possible and depending on business needs, we will consider all flexible working options such as part-time working, job sharing, working from home and staggered hours. If in considering a role with Gowling WLG you favour flexibility in your working arrangements, please discuss this with the recruitment team in the early stages of the application process.
About the Team
The Banking and Finance team is a single team comprising banking, restructuring and insolvency working as a single team across the London and Birmingham offices. The team covers all aspects of finance work including acquisition finance, asset finance, general corporate and syndicated lending, securitisation and debt capital markets, project finance and distressed advisory work, restructuring and corporate recovery. The team acts for UK clearing banks, U.S. and European banks, financial institutions, debt funds and alternative lenders, as well as for borrowers, investors, corporates, funds and private equity houses, pension trustees, receivers and insolvency practitioners.
The banking specialist team work on wide range of debt financing transactions and work closely with our highly regarded corporate, private equity, tax, funds, pensions and project teams, as well as our top 4 ranked real estate group. The specialist restructuring and insolvency team work on highly confidential contingency planning projects, board advisory work, complex exits acting for corporates, clearing lenders, investors and other stakeholders, pre-packaged administration, trading and partial group insolvency, members voluntary liquidations and dissolution and security review work.
The transactions involve businesses and lenders in the UK and overseas and the team regularly advise on multi-jurisdiction international matters.
The team has a very strong track record in certain key sectors including Tech, Private Equity, Automotive, Retail and Leisure, Manufacturing, Energy and Social Housing. The team works closely with other members of the firm on cross-firm sector transactions and initiatives.
We provide a partner led service to clients, in a close-knit team in which every member plays a key part in client delivery and marketing initiatives.
Main Purpose of the Job
This is a non-contentious role working with creditors, lenders, insolvency practitioners and companies on the full range of insolvency, rescue and restructuring matters. Reporting directly to the Banking & Finance Partners you will be a key member within this close-knit team which advises various stakeholders on all types on debt restructuring and enforcement, including contingency planning and security related issues.
Main Duties and Responsibilities
The team works closely with PWC, Deloitte, EY and other clients, including lenders, who are stakeholders in restructuring
Providing technically excellent advice on a broad range of issues, including:
Administration and receivership appointments.
Advice to directors on their duties in distressed circumstances.
Asset disposals by administrators/liquidators including pre-packaged solutions.
Advising on the validity of secured lender's security.
Experience of some restructuring work.
Providing refinancing and fundraising advice.
Advising Banks and other financial institutions on their enforcement strategy including insolvency options.
Knowledge of anti-avoidance issues, such as preference, transactions at undervalue.
Knowledge of general banking matters e.g. facility agreements, intercreditor agreements and deeds of priority and security documents.
Any other reasonable duties delegated by any Partner, Senior Manager or Group Support Manager of the firm.
Key skills and experience
* Experience of working with lenders and insolvency practitioners on non contentious insolvency matters such as administrations, liquidations, other insolvency processes, and advising on review of security and debt advisory work with a technical knowledge of insolvency is required; any experience of advising businesses and financial institutions on restructurings, with a toolkit knowledge of insolvency and distressed banking work (such as advising on and drafting standstill agreements, reservations of rights, waivers and defaults) will help.
* You will have a clear understanding of current legal principles and current technical knowledge in recovery/restructuring, security issues and insolvency processes; ideally having had exposure to insolvency processes, security and banking matters with client communication in this field, together with experience of transaction and advisory work.
* Good technical knowledge of transactions in insolvency (including sales and purchases) as well as a good understanding of security and how it works would be required.
* A commitment to business development within the restructuring and insolvency community in Birmingham will be expected, established connections in the market would be an advantage. In return, the team are able to offer excellent training and exposure to all types of distressed finance work with a view to building long term career opportunities within the firm.
Commercial and clear-thinking approach to problem solving, providing advice in a straightforward and practical manner.
A clear understanding of the importance of team work to deliver the best client service and the ability to provide evidence of this.
Ability and desire to engage in business development and build long term relationships.
Ability to work in time pressured circumstances and able to provide evidence of this.
Excellent communication skills.
Flexible and adaptable approach.
Gowling WLG is committed both to promoting equality and diversity in the firm and to Equal Opportunities in employment. The firm believes in equality of opportunity regardless of race or racial group (including colour, nationality, ethnicity, national origins), religion or belief, age, disability, sexual orientation, sex, gender re-assignment and gender identity, marriage and civil partnership, and pregnancy, maternity and paternity. This also includes any incidents of perceptive or associative discrimination and harassment.
At Gowling WLG we seek to attract and retain talented people from a diverse range of backgrounds and cultures, to create an exciting and rewarding place to work. Our aim is to fulfil everyone's potential and together to achieve personal and business goals.