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Signing a facility agreement

Who we work with

For lenders and funders

When a facility starts to go wrong, the question is rarely whether you can enforce. It is what each of the available routes actually recovers, and how quickly.

Call 020 3019 0224 Discuss a position

We act for banks, asset-based lenders, bridging and development funders, invoice financiers and private credit in relation to positions from the low hundreds of thousands upwards.

We understand that the cost of the process determines what is left to recover. As a boutique firm, we provide both a partner-led approach and a cost-effective solution. That is what we are built for.

Where we come in

From covenant pressure to final recovery

The earlier the conversation, the wider the range of outcomes. By the time enforcement is the only option left, most of the value decisions have already been made for you.

  1. Covenant pressure, before default

    An independent read on whether the plan in front of you is credible, and what the realistic recovery looks like on each of the routes available. Often the most valuable work we do, because it is the point at which options still exist.

  2. Default, and a decision to make

    Support and forbearance, refinancing, a consensual sale, or enforcement. We will tell you honestly when enforcement destroys more value than it recovers, including when that is not what you are hoping to hear.

  3. Security review

    What is actually secured, whether the charge does what the facility letter assumed, where it ranks, and what it will realise. Assumptions made at drawdown do not always survive scrutiny years later.

  4. Appointment over property

    Fixed charge and LPA receiverships where a specific asset needs protecting, managing or realising, without the wider consequences of a company-level process.

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  5. Company-level appointment

    Administration where the business itself has value worth preserving, or liquidation where it does not. We are clear at the outset about the duties each role carries.

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  6. Recovery gone wrong elsewhere

    Where assets have moved, records do not reconcile, or the picture presented does not match the one in the accounts. Forensic analysis and asset tracing, in a form that supports proceedings.

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Our undertaking

Independent, and straight with you

  • We will tell you when enforcement is the wrong answer. A recovery that destroys value is not a good outcome for anyone, and we would rather say so.
  • Where we act as office holder we owe duties to creditors as a whole, and we are clear from the outset about which role we are taking.
  • Conflicts are checked before we take instructions, not after.
  • You get a realistic recovery range early, not an optimistic one that has to be revised.

Property

Property expertise inside the appointment

Most lender recoveries turn on property, and most insolvency firms bolt the property advice on afterwards. In conjunction with specialist advisers, we are able to provide advice across the UK on asset management, landlord and tenant, rating, planning, valuation, funding and development.

The practical effect is that valuation and disposal strategy are considered on day one, not after a marketing campaign has already been run at the wrong price.

Property solutions

What you get

A recovery range you can put in a credit paper

  • A realistic range, early. Not an optimistic figure that has to be revised down twice.
  • The costs of each route, so net recovery is comparable rather than theoretical.
  • The timetable, including where a court hearing is required and what that adds.
  • The risks to the security, including anything in the charge that does not do what was assumed.
  • A clear view on whether to act now or wait, with the reasoning set out.

Who to call

Both licensed insolvency practitioners take lender instructions directly.

Questions lenders ask us

How quickly can you take an appointment?
For a fixed charge or LPA receivership, usually within days of instructions and completed conflict checks. For an administration, the timetable depends on whether the appointment is out of court or requires a hearing, but we will tell you at the first call which applies and what it means.
Will you tell us not to enforce?
Yes, when that is the answer. A recovery that destroys value is not a good outcome for a lender, and an adviser who never counsels patience is not being independent. We would rather lose the appointment than give you a comfortable answer.
How do you handle the change of role from adviser to office holder?
Carefully, and transparently. Advising you and then accepting an appointment where duties are owed to creditors as a whole raises questions we address before instructions are accepted rather than afterwards. Where the right answer is that a different firm should take the appointment, we say so.
Do you have property expertise in-house?
Yes, but we also recognise the limits of our specialism and where external advisers can add value.
What size of facility do you work with?
We act on facilities from the low hundreds of thousands upwards. We recognise that a proportionate approach to cost matters most to the recovery.
Can you review a position without an appointment?
Yes, and frequently that is all that is needed. An independent business review or security review gives you a defensible basis for a credit decision without committing to any enforcement action.

Send us the facility and the security, and we will give you a view.

An independent read on realistic recovery, at no cost and with no obligation to appoint us.

Speak to an adviser 020 3019 0224