This area covers buying or selling businesses that are distressed or insolvent, including assets of companies facing administration, liquidation or other insolvency procedures. A solicitor here identifies and values the business, negotiates terms, and drafts or reviews the necessary contracts, asset purchase agreements, and warranties. They coordinate with insolvency practitioners, office holders, and creditors to ensure a commercially sound deal and protect the client’s position as a purchaser or vendor through the process of sale, consent, and transfer of ownership.
What a solicitor handles in these matters
The solicitor handles due diligence on distressed assets, negotiates terms and warranties, manages pre-pack or negotiated sales, drafts asset purchase agreements, coordinates with administrators or liquidators, and liaises with creditors and the purchaser’s financing team to secure title and enforce warranties; they also advise on risk allocation, post-completion liabilities, and any regulatory or competition considerations relevant to the sale.
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