Expert input is critical to a successful restructuring. Obtaining proper independent expert input is vital, and this next article in our series focusses on managing director duties and stakeholder interests in a restructuring. The impact of Covid19 on businesses has been significant and severe.

Spring 2021 has seen the input of independent expert evidence become increasingly critical to successful restructuring. May 2021 saw several significant court decisions from concerning CVAs and restructuring plans. Two cases – New Look and Regis – concerned CVAs and Virgin Active concerned a restructuring plan. All three judgments highlighted the need for early independent expert input in formulating the CVA or restructuring plans.

CVAs – New Look and Regis

The input of independent expert evidence has become increasingly critical to successful restructuring, with spring 2021 seeing yet more changes and now compulsory expert input. From 30 April 2021 it is now a requirement to obtain a report from an independent evaluator in certain pre-pack administrations. May 2021 saw several significant court decisions with New Look and Regis concerned CVAs and Virgin Active concerned a restructuring plan. All three judgments highlighted the need for independent expert input in formulating the restructuring plans.