Birmingham-based law firm Blakemores
Solicitors is looking to take on more work in the asset finance
sector, as rising business insolvency levels have seen more and
more lessors turn to legal advice when faced with client
failure.
Recent developments
at the firm have included a training course for leasing staff
explaining the processes and rights of lenders involved in
different kinds of insolvencies, plus a hotline through which
lessors can seek immediate advice upon a client going into
administration.
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Edward Flanagan, head of the firm’s asset
finance practice, said that the industry had become “much more
proactive” with regard to looming insolvencies, and that Blakemores
had increased its offering to match this.
“In many cases, we have gone with a client to
visit the borrower and its advisors, and have found a way to
restructure deals to avoid distress, or find additional securities
among the borrower’s assets,” he said.
As well as providing advisory and litigation
resources in insolvency or pre-insolvency scenarios, Flanagan said
that the firm has seen a rise in collections work, taking a
particular focus on pre-litigation mediation.
The firm’s head office in Birmingham enjoys a
new conferencing facility, Flanagan said, with many separate
sections to allow simultaneous meetings with both sides of a
dispute.
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By GlobalDataFlanagan’s personal background is in the
automotive leasing sector, a factor that he says has allowed him to
“speak the same language” as Blakemores’ clients, which range from
bespoke funders through to national motor finance providers.
Key facts:
Founded: 1961, with asset
finance practice developed in 1992
Staff: 22 partners, 170 staff
total
Key partners in AF practice:
Edward Flanagan, Joanne Miller, Tim Langley, Peter Kelly, Michael
Baxendale
Offices: Birmingham city
centre, Leamington Spa
Specialists in:
Pre-litigation dispute resolution, client insolvency situations
Fred Crawley
