Response to a specific event
There are many events that can have a bearing on covenant strength which can require advice from an external trusted pensions advisor. This is usually when a corporate transaction has taken place which can include share redemptions, dividend distributions, refinancing, mergers, demergers, acquisitions and disposals.
We are able to provide both pro-active and reactive advice to trustees when transactions are under discussions or have taken place.
Other specific events where we have extensive experience are negotiations between stakeholders in respect of scheme funding, recovery plans, clearance applications relating to material detriment, deficit mitigation, scheme mergers and scheme apportionment arrangements.
With a background in insolvency and working with major financial institutions, we are well versed in complex negotiations and in finding solutions to seemingly impenetrable problems and will act as intermediaries to “de-personalise” difficult situations.