News Update November 2023

This has been a very busy year for Tourmalet. We continue to be instructed by directors facing claims under personal guarantees; an area we have worked in for over 18 years. We urge directors faced with PG claims to take advice before they communicate in any way with the Claimant. We have recently finished work on a re-construction of a group company giving stakeholders an excellent result. Our recovery work has continued and we continue to offer recovery services for large (and very large) plant and machinery. We are grateful to our many clients for their magnificent support.

News Update January 2023

We are proud to be working with Asertis, who in December 2022 were voted Insolvency Litigation Funder of the Year at the prestigious TRI Awards in London. Asertis continues to grow at a remarkable pace and attract a large range of claims. It is also an honour for us to be working with Akula Living which in the space of five years has grown to be a major force in the field of outside furniture. We have also been delighted to work with the Flawless Group and with I.T specialists Murphy IT and Made Greater. We continue to advise a...

News Update March 2022

As another Spring approaches we continue to be very busy. Asertis have secured substantial additional funding and are deploying this funding on a wide range of claims. We are also heavily engaged on work for PCF Bank Ltd, a Listed bank with a strong client base. We are established advisors to a number of SME’s and are proud to be associated with such excellent companies as Flawless Photography Studios, Akula Living and KCPM. Our wide range of advisory work continues.

Update April 2021

Thank goodness for Spring and the chance to drink a pint! We move smoothly into our sixteenth year. Managing Partner Chris Jones continues to work with litigation funders Asertis, who have enjoyed a fantastic first year which has seen them firmly established as a fixture in the litigation funding scene. At the same time we are working on behalf of a long standing client in a million pound construction claim. We have just completed the re-funding of another long established client and we continue to defend a series of personal guarantee claims. As ever, a varied diet.

News Update December 2020

Christmas approaches and so ends a crazy year. Our workload has simply increased and increased despite the difficult world we live in. Currently we are working in cases so diverse and a hotel re-structuring, a high value property dispute, a £1.5million bank recovery claim and a series of bank guarantee claims. However much time has been spent helping Asertis, the fledgling litigation funding business to rapidly establish itself as a force in the field. A very Happy Xmas to all our many friends. Let’s hope for a rather more sane 2021! And maybe LUFC in a European place!!

News Update September 2020

Chris Jones has been working with the team at Asertis on a whole range of opportunities to purchase distressed assets. The large fund behind Asertis has captured the attention of the market and brought in a wide range of opportunities. There is a clear consensus in the marketplace that Autumn will see a huge upturn in insolvency appointments which will keep Tourmalet and Asertis busy. In the meantime we continue to resist on behalf of clients a whole range of personal guarantee claims. A victory this month was to see a High Street bank abandon a £30k p.g claim after...

Chris Jones joins Asertis.

We are delighted to report that Chris has joined Asertis, the newly established distressed asset purchaser. The Company, backed by a substantial financial resources, is looking to acquire claims in distressed situations. In doing so it is offering an outstanding service to insolvency practitioners, enabling them to realise assets that were previously not capable of being recovered.

News Update

We continue to deal with a varied mix of work as Autumn approaches. We have received a mandate from a long standing client to sell his well established business and have advised on pricing and structure. Direct contact is now being made with interested parties. On the funding side we have worked on structuring a funding and security package for a cutting edge tech business. Work on defending personal guarantees continues to grow as more and more lenders make use of them. Time after time we find clients have signed documents which they believed involved them in no personal liability...

News Update

2019 has seen a varied start to the year. Clients with personal guarantee problems continue to seek advice and we have been able to successfully challenge a number of guarantee claims. Many lenders outside the high street banks are placing huge reliance on personal guarantees to support large loans. Very often the manner in which the documents are completed calls them into question. On the corporate front Tourmalet worked on the successful multi million pound re-finance of a newly completed hotel in Manchester and is currently advising on a substantial corporate finance transaction. We were delighted to be part of...

Chinks in the Armour

Limited Companies don’t offer the protection they used to   During the course of a year some 500,000 new businesses are likely to launch in the UK and a large proportion of the budding entrepreneurs behind these businesses will be advised by their professional advisors to run their business through a limited company. These advisers will have in mind that about four of every ten new businesses die within 5 years and that “death” can take the form of an insolvency. The limited company structure has historically meant that in the event of failure at least the entrepreneur’s house and...