Tom Pringle Partner Joint Head of Financial Institutions & Services Sector (UK)

Tom Pringle

Tom is a partner in Gowling WLG's restructuring and insolvency team, advising parties at various stages of the distress curve on a wide range of insolvency and finance issues.

Tom specialises in all aspects of corporate restructuring, regularly advising banks, turnaround professionals, insolvency practitioners, underperforming businesses, directors, distressed lenders and other stakeholders on strategic and legal issues in order to achieve solvent and insolvent restructurings. Tom also regularly advises lenders on the validity and enforceability of their security and facilities.

He acts for lenders, directors, corporates and insolvency practitioners in relation to insolvency appointments, restructuring outside of formal insolvency, business and asset sales, the duties and conduct of directors, and insolvency litigation. Tom's work has taken in a wide range of sectors, with recent experience including work relating to care home operators, major manufacturers, law firms, retailers, construction firms, property investment groups, and education providers as well as advisory work in the energy sector and advice to boards of various businesses in difficulty.

Experience

• Special Administrations
  • Advising the Special Administrators of a firm pursuant to the Special Administration Regime for Investment Firms.
  • Advising the Education Administrators in the first two Education Administrations pursuant to the Special Administration Regime for further education providers.
• Consumer Energy
  • Advising the boards of numerous consumer energy suppliers in relation to financial difficulties, refinancing and/or insolvency, with advice to administrators following where needed.
  • Acting for a consumer energy supplier in relation to its acquisition of the customer base of an insolvent competitor via the 'supplier of last resort' process.
• Retail/Leisure
  • Advising suppliers, concession operators, creditors, landlords,  and purchasers from administrators in the insolvencies of various retail and dining businesses.
  • Advising board of retail, dining and leisure businesses in relation to financial difficulties and creditor pressure, particularly during pandemic restrictions.
  • Advising the board of the world's oldest travel agency in relation to its financial difficulties and subsequently advising administrators on the sale of its business and assets as a going concern.
• Lenders and Financial Institutions
  • Acting for a major financial institution in the acquisition of a smaller competitor from administrators.
  • Advising a major financial institution in relation to its options in respect of an insolvent joint venture/subsidiary.
• Manufacturing
  • Advising the board of a manufacturer of consumer goods in relation to their duties and restructuring options for a four month period leading up to the manufacturer's insolvency.
  • Advice to the board of a major manufacturer as it refinanced while managing creditors during lockdown.
• Other
  • Providing expert evidence on English insolvency law for a product liability trial in Charlotte, North Carolina.