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 employment law for business 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.

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