United Kingdom: Insolvency/Bankruptcy/Re-Structuring

Steven Geerlings shares insights from his extensive international career in asset-based lending, spanning work across the UK, Netherlands, Belgium, and Germany. Drawing on experience managing multi-billion euro transactions for Deutsche Bank and navigating complex cross-border finance structures, he explores the operational and legal challenges that arise when lending against assets across multiple European jurisdictions. The discussion reveals how evolving regulations and practical expertise are reshaping

Much discussion around restructuring focuses on rescue processes such as administration, restructuring plans and consensual workouts. Yet across the property market, one of the most commonly used enforcement tools is the appointment of a receiver under the Law of Property Act 1925 – known as an LPA receiver.

Three Nasdaq-listed U.S. companies have successfully restructured using England's Restructuring Plan under Part 26A, achieving Chapter 15 recognition in U.S. courts. This development positions the English RP as a viable alternative to Chapter 11 bankruptcy for certain American companies seeking operational turnarounds and balance sheet restructurings.

Frasers Group's acquisition of Harvey Nichols for £43.3 million has sparked controversy as creditors face significant losses, while Victoria Beckham's fashion empire achieves its first-ever profit after years of financial struggle. Meanwhile, China's luxury market shows signs of weakening recovery amid tax pressures and economic uncertainty, raising questions about the future of global luxury growth.

Private capital is reshaping real estate financing beyond traditional senior debt, with operational real estate at the center of this transformation. As interest rates remain elevated and traditional lenders retreat, alternative capital providers are filling the funding gap with flexible structures and creative solutions. The shift requires lenders to underwrite not just buildings, but the businesses that operate within them, fundamentally changing how distress is managed and value is realized.

When purchasing a property, discovering that it was previously gifted rather than sold can raise unexpected legal concerns. Understanding why conveyancers investigate these transactions at undervalue and how indemnity policies protect buyers from potential insolvency claims is essential for anyone navigating the property transfer process.