Restructuring and special situations for Covenant and Sustainability services
Whether you are a trustee, a company director or a financial stakeholder, restructuring situations can be difficult landscapes to navigate. Restructuring a business with a defined benefit (DB) pension scheme is possibly even more complex. You will generally need to assess the options for managing and/or compromising pension scheme liabilities through a range of restructuring solutions. You will need to understand the impact on the employer’s covenant and how it might be mitigated. You will also need to get a handle on the ‘moral hazard’ risks associated with restructuring plans, particularly if the outcome is likely to be highly adverse to the scheme.
With their up-to-date knowledge of the changing regulatory landscape, our specialists are ready to help you to deliver creative solutions which optimise outcomes for all stakeholders.
- performing ‘moral hazard’ risk reviews, to consider the likelihood and potential impact of intervention by the Pensions Regulator;
- supporting stakeholders in assessing options to compromise scheme benefits and separate the pension scheme from the sponsor;
- providing expert support around stressed and distressed sales processes;
- advising stakeholders after any insolvency event or after the implementation of a restructuring plan;
- acting as an expert witness in regulatory and court proceedings;
- taking formal insolvency appointments in specific situations, including conflict work relating to a DB scheme.