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...

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News July 2018

Next month Tourmalet Consulting moves onto its fourteenth year of trading with plenty of activity to report. One clear theme that is emerging is the continued blurring of the line between personal and corporate liability. We are currently handing a large case where HMRC are seeking to impose personal liability on our director client and pointing to new retrospective legislation that they claim gives them power to do this. We disagree. Lenders to corporates are pushing harder and harder for ever wider personal guarantee commitments. We are currently challenging a whole range of personal guarantee claims – very few lenders...

News Update

News Update We continue to be very busy with a rich mix of instructions. Currently we are:- Working on a large corporate finance deal with an international element Advising on a while range of personal guarantee claims Working with a cutting edge social media firm Working on a third party costs claim Trying to resolve a dispute over a Cyprus property Working in a minority shareholder claim Advising on a failed film scheme   And on and on. Life is not dull. We offer unrivaled consultancy experience!