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Restructuring & Recovery in the Midlands

Tim Simmons / 8 Jan, 21

Our Restructuring & Recovery team in the Midlands is led by Partner, Tim Simmons. With 15 years’ experience in the sector and supported by a dedicated team of specialists, the team regularly work on some of the largest real estate restructuring and recovery projects in the region.

Whether acting directly for lenders in the capacity of Law of Property Act Receiver, or as a consultant to insolvency practitioners, the team has a demonstrable track record across a wide spectrum of distressed real estate assets. We regularly act for various office holders to include:

  • Administrators
  • Liquidators
  • Supervisors and Trustees
  • Fixed Charge / Law of Property Act Receivers (where an insolvency practitioner is appointed)

The team can provide initial appraisals of assets, be this pre (business turnaround) or post formal insolvency appointments and follows through to specialist advice regarding value and, where necessary, relevant disposal strategy to ensure best value is obtained. The team often works closely alongside the Machinery & Business Assets division, in order to offer an all-encompassing service to our clients across a wide range of asset classes. Recent valuation and sale mandates have included large industrial facilities, commercial investments, care homes, hotels, serviced offices, development sites (both residential and commercial), food manufacturing facilities, and schools.

Our senior personnel are all RICS Registered Valuers able to provide fully compliant formal valuation advice. The scope of our work has also included loan book reviews coupled with workout strategies to assist lenders decision making in relation to distressed loans. In addition, we regularly undertake asset monitoring and surveillance for loan managers.

Often, in a distressed real estate scenario a multi-disciplinary approach is required to extract best value from an asset. We pride ourselves on the range of in house disciplines which enhance our client offering – these include:

  • Machinery & Business Assets
  • Building Consultancy
  • Asset Based Lending
  • Business Rates
  • Planning & Development
  • Property Management
  • Lease Consultancy
  • Leisure Expertise

Where lenders require direct appointments, Tim Simmons regularly takes personal receivership appointments across the Midlands, from a wide range of lenders to include:

  • High Street Banks
  • Building Societies
  • Challenger Banks
  • Bridging lenders / alternative lenders / P2P
  • Debt servicers
  • Private individuals

We have nine RICS Registered Property Receivers who are all Fellows of the Association of Property Fixed Charge Receivers (NARA). Our experience in this area of recovery work is extensive and on a nationwide level. In addition to a formal receivership process, there are other exit routes available to secured lenders where the team regularly advises and assists:

  • Assisted Voluntary Sales
  • Mortgagee in Possession
  • Mortgagee not in Possession
  • Assistance to Lenders seeking possession

As ever, early advice is important to ensure asset value is protected and enable recovery strategies to be quickly actioned in the event of loan default or insolvency event. For an informal discussion in relation to any distressed real estate situations that you may have, please contact Tim Simmons on 07511 050889 or at tim.simmons@sw.co.uk.

Topics: Blog

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