Shoosmiths LLP

Lucy is a senior associate working with a variety of clients including insolvency practitioners, banks, asset based lenders, private companies and company directors, providing advice in all aspects of restructuring and insolvency.

Lucy advises insolvency practitioners in connection with all transactional and contentious matters arising from their appointment. Lucy assists on complex corporate restructurings including the implementation of Company Voluntary Arrangements (CVAs) and has experience acting both for buyers and sellers of distressed business including pre-pack administration sales. Lucy also has experience preparing and advising on various insolvency related court applications. As regards creditor advisory work, Lucy advises lenders in connection with the validity of their security and their enforcement options.

Lucy's notable experience includes:

• acting for office-holders in relation to varied matters arising from their appointment to Digme Fitness Limited, Bounty Joy Limited, Axminster Carpets Limited, Keyair Limited, Monarch Aircraft Engineering Limited and Elite Sports Group Limited, including advice in relation to asset sales and transactions, collections, property, employment and regulatory matters and claims against former directors and/or officers;
• acting for the purchasers of assets from insolvent estates, including for the purchaser of the business and assets of boutique fitness outfit Frame, and in an accelerated sale and purchase transaction of the Oasis and Warehouse group and the onward sale of the retail brands to Boohoo;
• managing the complex and contentious cross-border administration of, a freight forwarder, Allseas Global Project Logistics Limited on behalf of its administrators.  Assisting in connection with the administration of an international mining group, including advising on (i) cross-border asset sales, (ii) a distribution to unsecured creditors and returning the Company to solvency, and (ii) the successful response to an unfair harm application brought by a director of the company seeking to exercise management powers in preparation for the end of the successful administration;
• advising directors including the board of a group of online gift retailers in relation to the group’s liquidity challenges and their duties in this regard;
• advising the former directors of a company in relation to the defence of a £4 million transfer at an undervalue claim; and
• assisting in connection with the implementation of a number of retail CVAs (Monsoon Accessorize Limited, Accessorize Limited, Abokado), acting in connection with the high-profile legal challenge of the CVA of a well-known high street retail chain and acting for a number of creditors in a High Court trial, successfully appealing the rejection of their claims in a CVA,