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Portrait ofSian Aitken

Sian Aitken

Partner

CMS Cameron McKenna Nabarro Olswang LLP
Saltire Court
20 Castle Terrace
Edinburgh
EH1 2EN
United Kingdom
Languages English

Siân Aitken is a partner in the Corporate Recovery team, advising insolvency practitioners, banks and corporates on restructurings, risk management, directors’ duties and all aspects of insolvency. She has advised on many of the most significant insolvency and restructuring deals in Scotland over the past decade.

Siân is one of the few solicitors in Scotland to have passed the Joint Insolvency Examinations, a legal, accounting and practical exam recognised by the various accounting and legal regulated professional bodies, which tests the knowledge and skills used by insolvency practitioners in their working lives. She now sits on the national committee which sets the UK wide exams and moderates the Scottish liquidations paper, which focuses on both solvent and insolvent winding-up.

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Relevant experience

  • The administrators of Tullis Russell Papermakers Limited
  • The administrators of Maclay Inns Limited
  • Major UK clearing bank on the insolvency of BVI and Gibraltar registered group of c30 companies and subsequently the Administrators thereof in relation to the management and realisation of an extensive portfolio of portfolios.
  • Major UK clearing bank and proposed administrators in relation to the pre-packed sales of a portfolio of hotels and bar/restaurants to numerous purchasers.
  • Administrators of premier league football club, including on a CVA and subsequent sale of the club.  
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Publications

  • Don't Gamble on Getting Goods Back, The Scotsman 
  • CA Magazine
  • Restructuring & Insolvency, Getting the Deal Through
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Education

  • 2007 - JIEB, Insolvency Examination
  • 2001 - Law, Dip LP, University of Aberdeen, Aberdeen
  • 2000 - Law, LLB Hons, University of Aberdeen, Aberdeen
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Feed

27/03/2023
Sustainable Tourism
Sustainable tourism is vital for our economy, having been identified in the Scottish Government’s Scotland's Economic Strategy (2015) as a growth sector where the country can build on existing comparative advantage as well as increase productivity.
12/01/2023
Companies in distress: directors’ duties and helpful tools
When a company is in financial difficulty, the responsibilities and duties of its directors can change, depending on the financial position of the company. There are scenarios in which directors must have regard to the interests of creditors and potentially even prioritise those over the interests of shareholders. If the applicable duties are not properly discharged, directors can face personal liability and/or dis­qual­i­fic­a­tion. The CMS briefing, Companies in distress: directors’ duties and helpful tools, outlines the risks for directors, practical steps that can be taken to avoid personal liability and the tools available to help with restructuring and rescue of companies in distress.
30/06/2021
Hurricane Energy – Court declines to sanction Restructuring Plan
Mr Justice Zacaroli has handed down his judgment in Hurricane Energy plc [2021] EWHC 1759 (Ch). Summary The Court declined to approve the cross-class cram down of Hurricane’s shareholders as part...
23/02/2021
Company voluntary arrangements (CVAs)
A CVA is a powerful formal restructuring tool that can be used by a debtor company to impose a compromise on unsecured creditors who will not compromise con­sen­su­ally. In 2020, the first full year of...
26/01/2021
Brexit – Consequences for Creditors’ Enforcement Options
The UK left the European Union (EU) on 31 January 2020, but it is only now, after the transition period (which ended on 31 December 2020) that creditors start grappling with the effect of Brexit on distressed...
13/10/2020
A new option for financially distressed companies: the new restructuring...
For many years, a financially distressed company unable to agree a consensual restructuring with its key creditors had only two formal options available to it under English law as part of seeking to...
01/07/2020
Corporate Insolvency and Governance Act 2020
This briefing note was originally published on 01 July 2020 and has been updated to reflect the law as at 13 October 2020. Introduction On 20 May 2020, the UK Government published the Corporate Insolvency...
21/05/2020
Corporate Insolvency and Governance Bill 2020
This article states the position as at 21 May 2020. An article reflecting subsequent changes to the law can be read here. Introduction On 28 March 2020, the UK Government announced upcoming insolvency...
19/03/2020
Help for businesses in distress due to COVID-19
The Government and Bank of England have announced a number of schemes and measures to support business during the “Covid-19 shock”. The details are being developed but what is known so far is summarised...
30/05/2019
Alternative lending market outlook: trends, opportunities and challenges
The so-called alternative lending sector is constantly striving to deliver innovative and competitive products which challenge and disrupt the traditional financial landscape. At this briefing, an expert...
16/11/2018
Fortune favours the...Crown
The Chancellor announced in his budget that the Crown is to be re-instated as a preferential creditor in insolvency, reversing the changes brought in by The Enterprise Act 2002. Those of us who have...
30/01/2018
"When you find yourself in times of trouble, let it be": sales at undervalue...
The Inner House of the Court of Session has found that, where a business had no realistic prospect of continuing in existence, it was not appropriate to assess whether a property was sold at an undervalue...