CMS is delighted to have been awarded ‘Restructuring Team of the Year’ at the Legal Business Awards 2018, which took place in London on 18 April.
The CMS team was recognised for its role in the highly successful consensual restructuring of Hoover Limited, one of the UK’s leading brands in the electrical appliances sector. The restructuring was implemented via a rarely used “regulated apportionment arrangement”, which released the company from £500m of legacy pension scheme obligations and secured ongoing employment for its 500 strong workforce.
The CMS team was led by restructuring & insolvency partner Glen Flannery, with cross-departmental assistance from Peter Williamson, Tracey Marsden, Helen Sevenoaks, Sabby Buwal, Pauline Howcroft, Anoushka Hasham-Gangji, Sidrah Ashraf and James McAtamney.
The client team was led by Hoover’s general counsel, Abs Bokhari, who commented that: “The CMS team was instrumental in guiding Hoover successfully through this complex restructuring. Crucially, as well as having all the essential technical skills, they drew upon invaluable practical experience from other cases to deliver the best outcome for Hoover and the wider stakeholder group. At all times, the team, led by Partner Glen Flannery, was skilfully in tune with the macro picture, the moving parts and the technical details, and always went the extra mile to help achieve the end result. “
For more information about the awards click: https://www.legalbusiness.co.uk/the-legal-business-awards/categories/restructuring-team-of-the-year/