Ernst & Young

A global network of restructuring professionals

Introduction

Ernst & Young has a global network of restructuring professionals to help you find financial, strategic and operational solutions, to help improve liquidity, credit availability and returns to stakeholders. A multi–disciplinary team offers integrated, objective advice and helps evaluate opportunities, improve the benefits of transactions and achieve strategic goals — whether clients are buying or selling a distressed asset, restructuring a business or dealing with underperformance or cash management. Worldwide, the company provides creative advice and draws on significant industry and sector knowledge to create a bespoke commercial approach appropriate to client needs.

Ernst & Young’s team is fully integrated both within its wider Transaction Advisory Services practice and the firm as a whole – over 100,000 people in more than 140 countries worldwide – and clients reap the benefits of this broad range of knowledge, skills and experience. All of its restructuring professionals augment their technical knowledge with in-depth industry experience, so they understand the specific competitive environments in which the firm’s clients operate.

Financial and Operational Restructuring

The Ernst & Young team develops solutions principally for corporate clients who are experiencing reduced stock market valuations, underperformance in part or all of their portfolio, restricted access to capital markets or pressure to restructure.

Solutions which the company uses in such situations include:

• business deconstruction/reconstruction techniques
• optimisation of working capital
• portfolio value optimisation, value creation and maintenance strategies
• portfolio reorganisation
• financial restructuring, options, evaluation and negotiation.

Ernst & Young’s working capital management team has a track record of identifying cash generation opportunities without exception. Its operational restructuring experts specialise in deconstructing and reconstructing cash flows and trading statements to enable the identification and stabilisation of companies' core businesses.

Financial Advisory

Ernst & Young’s team provides services and advice to both the stakeholders of underperforming companies and the corporates themselves on crisis situations, work-out strategies and financial restructuring.

Solutions include:

• Independent Business Reviews (IBR)    
• Crisis Stabilisation     
• Lender Advisory
• Stakeholder Intermediation
• Financial Restructuring

LASER – Liquidations & Strategic Exit Routes

Ernst & Young delivers a high quality technical and commercial service in relation to all types of liquidations, whether solvent or insolvent. The company has a proven track record of tax efficient closure/wind down of businesses. It uses a proactive approach, cutting edge planning and expert tax advice to deliver.

Formal Insolvency Processes

Ernst & Young’s restructuring professionals use their expert knowledge of formal insolvency and other procedures to maximise returns to creditors either through a rescue of the company or, where this is not possible, through maximising returns to creditors.

It has been involved in many of the highest profile assignments in both the private and public sectors in the UK and its credentials include the first administration of a quoted company to be rescued and re-listed on the London Stock Exchange. Ernst & Young was also the first firm to use “light-touch” formal procedures at parent company level to maximise the enterprise value of subsidiaries. Successes from these and other cases, including the innovative use of company voluntary arrangements and schemes of arrangement, are such that its team is seen as the leader in its field. In particular, its track record on large complex administrations is second to none.

With representation throughout the UK, the Ernst & Young restructuring team has sufficient critical mass to meet the needs of even the most labour intensive assignments both within the UK and internationally. Its restructuring professionals have access to the deep industry sector knowledge within the firm’s other services, such that it can deliver the “best team” of skills and experience to any given project.

Further Information

For more information on Ernst & Young’s services, please check out the restructuring pages of the EY website, or contact:

Maurice Moses
Partner
t: 020 7951 6635,
e: mmoses@uk.ey.com

Bob Ward
Partner
t: 020 7951 1232
e: bward1@uk.ey.com
w: www.ey.com/uk