Advice to company in financial difficulty

Verisona Law was initially instructed by a large German holding company to advise on the best way of dealing with a failing subsidiary based in the north of England.  Various options were explored in a series of meetings with the German directors including restructuring, the provision of limited further funding, a company voluntary arrangement and a prepack administration.  Advice and assistance provided by the team at Verisona Law included dealing with employment issues.

Eventually the team assisted with the appointment of joint administrators with a view to a prepack sale of the business.