RESTRUCTURING ADVISORY SERVICES FOR LENDERS SERVICES FOR LENDERS. Our full service offering

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1 RESTRUCTURING ADVISORY SERVICES FOR LENDERS SERVICES FOR LENDERS Our full service offering

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3 SERVICES FOR LENDERS RSM is an independent firm of chartered accountants and business advisers. Unlike small insolvency boutiques, the integrated nature of our firm means that we are ideally placed to support lenders and their clients with a wide range of services tailored to meet individual needs. When advising a lenders client we embrace the customer centric approach. Conduct risk is at the heart of banking reform and a key driver for creating cultural behaviour. Lenders are under increasing scrutiny from clients, focus groups and regulatory bodies in respect of relationship management. We assist lenders with managing their conduct risk, understanding the sensitivities surrounding the introduction of an independent advisor to a lenders client and that the approach we take can reflect upon the lender. About us We are one of three principal mid-market accountancy firms, with around 3,500 partners and staff generating a fee income of over 300 m. We are a national firm with a network of offices across the UK, making us your local firm with a national strength. RSM UK offices Those in bold indicate Restructuring Advisory presence Aberdeen Basingstoke Bath Birmingham Bristol Bromley Bury St Edmunds Cardiff Chelmsford Chester Derby Edinburgh Gatwick Glasgow Grangemouth Guildford Hereford Hull Leeds Leicester Lerwick Liverpool London Manchester Milton Keynes Newcastle Nottingham Perth Preston Reading Southampton Stoke-on-Trent Swindon Telford Tunbridge Wells 3

4 ADVISORY SERVICES Corporate finance If an exit route represents the optimum solution for stakeholders, we work in conjunction with our corporate finance colleagues to assist lenders clients. This is likely to be in the context of an accelerated process for businesses in distress. We have excellent contacts with trade and private equity buyers and can assist in structuring transactions to maximise stakeholder positions. Corporate restructuring Our experts advise board members and other stakeholders on stabilising crisis situations, turnaround strategies and planned restructuring. We ensure that all available options for businesses are considered. We pragmatically manage all stakeholders to achieve optimum results. Debt advisory Our debt advisory team has vast experience in raising new or re-financing existing debt. We can assist in building a strong proposition for lenders or lenders clients looking to reposition the debt or relationship including financial modelling and capital structure optimisation whilst our market knowledge can help with debt instrument selection and pricing. Pensions advisory RSM s Covenant Assessment Services team has unrivalled experience in advising stakeholders of companies with underfunded defined benefit pension schemes. We can assist clients in restructuring their businesses, potentially freeing them from the burden of such schemes, reducing the risks of lenders exposed to such clients. Crisis cash flow management Our team has the experience to rapidly identify the causes of cash flow issues and support lenders clients with the processes and expertise needed to resolve the position. We assist in implementing improvements to how cash flow is managed and reported in the business and liaise with thirdparties on your client s behalf. Contingency planning Working with the bank and the client in order to develop and appraise recovery strategies, our insolvency experts can maximise returns for creditors should the client be unable to successfully implement its solvent restructuring plan. 4

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6 CLIENT SUPPORT Asset based lending RSM s Asset Based Lending (ABL) team has strong links with the principal players in the market and extensive experience of ABL transactions across all sectors. We can assist your clients in raising additional or replacement finance and support your clients in negotiating and navigating the process to a successful conclusion. Corporate simplification Our team has a strong track record in simplifying corporate structures. We can advise on every aspect of the process, offering a full conception to completion service, reducing costs and risks and improving transparency to the stakeholders. Creditor services Our creditor services team can assist lenders clients in their credit and collection activities, including hands on debt collection. They are seasoned experts and understand every aspect of the debt recovery process using a variety of bespoke tools such as the RSM Tracker software. Financial modelling Our specialist financial modelling team can quickly and costeffectively assist clients to build bespoke forecasting models. The team can perform technical forecast reviews designed to identify model weaknesses and errors. Interim leadership RSM s in-house interim experts take an active role to support management, with a fresh perspective helping to drive change enabling the lender to have an independent view of a company and its issues. We are members of the Institute for Turnaround and European Association of Certified Turnaround Professionals who are supplemented by our network of highly experienced turnaround professionals through our 180 degree club. Management information Our experts can assist lenders unsure about their financial position, or concerns about the veracity of the Management Information (MI) making it difficult to agree strategy or funding. We work closely with the lenders client to challenge and improve their existing MI, or create alternatives to provide both parties with the information they require. This approach can be used for existing or prospective customers and can be tailored to the requirements of the stakeholders. Outsourcing The RSM outsourcing team can assist lenders clients with a range of services including; bookkeeping and accounting services, compliance, payroll and HR management. The outsourced service is a cost effective route to gain best in class service, allowing lenders clients to focus their time and resources on their core business. Working together we can ensure that any assumptions produced have the functionality required to allow the bank or the investigating accountant to swiftly sensitise the model for the purposes of an Independent business review (IBR). 6

7 Tax planning RSM s team of tax specialists can augment services by providing value added tailored commercial solutions. Such advice is crucial in the context of any restructuring, but in addition might include general tax planning in the context of insolvencies, loan releases, debt equity swaps, refinancing, the pursuit of R&D tax credits and maximisation of terminal loss claims. VAT services Our experts can help lenders clients to find their way through the maze of VAT rules and regulations. The team supports our restructuring advisory assignments to maximise realisations and minimise VAT risks. This typically includes dealing with complex VAT issues on residential and commercial property development cases, assisting in maximising VAT recoveries in insolvencies where clients have partial exemption for VAT, and ensuring restructurings use the VAT rules in a value enhancing manner. 7

8 INVESTIGATIONS Forensic services Our dedicated team of forensic accountants are experts at looking beyond the numbers, dealing with the business reality of the situation and delivering their independent opinion in clear terms. We have the commercial sense to give you realistic recommendations to enable you to settle your cases in a proportionate and effective manner. Fraud investigations Our fraud investigations team is one of the leading providers of Counter Fraud Specialist services to the public, corporate and not-for-profit sectors. In the unfortunate event that a lender s client is impacted by a fraud, our experts provide proactive and reactive solutions to assist recoveries and redesign procedures to minimise future risks. Special investigations RSM s market-leading Special Investigations team has vast experience of dealing with high-profile enforcement actions, local and international asset tracing, contentious insolvency appointments and fraud investigations. We are ideally placed to assist lenders should their clients become involved in these contentious areas. Tax investigations Changes in HMRC s approach to complex tax planning arrangements have led to an increased risk to lenders clients. Our specialist teams are highly experienced in handling tax investigations, enquiries and disputes and disclosures with HMRC to resolve these as quickly and cost efficiently as possible. 8

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10 117 INDEPENDENT 35,000 PEOPLE MEMBER AND IN OVER 700 CORRESPONDENT FIRMSOFFICES IN 107 COUNTRIES WORLDWIDE 10

11 7TH LARGEST NETWORK IN THE WORLD BY COMBINED FEE INCOME US$3.7 BN: THE COMBINED REVENUE OF INDEPENDENT MEMBER AND CORRESPONDENT FIRM 11

12 Our sector experience Our faculty has a wealth of knowledge and experience across a wide range of industry sectors. However, we do have particular specialisms in the following sectors: For further information please contact Automotive Construction Energy and renewables Financial services Food and drink Healthcare Leisure and hospitality Manufacturing Telecommunications, media and technology Not for profit Printing Professional services Public sector Real estate Recruitment Retail Transport and logistics Travel Graham Bushby Partner, Head of Restructuring Advisory T +44 (0) graham.bushby@rsmuk.com rsmuk.com The UK group of companies and LLPs trading as RSM is a member of the RSM network. RSM is the trading name used by the members of the RSM network. Each member of the RSM network is an independent accounting and consulting firm each of which practises in its own right. The RSM network is not itself a separate legal entity of any description in any jurisdiction. The RSM network is administered by RSM International Limited, a company registered in England and Wales (company number ) whose registered office is at 11 Old Jewry, London EC2R 8DU. The brand and trademark RSM and other intellectual property rights used by members of the network are owned by RSM International Association, an association governed by article 60 et seq of the Civil Code of Switzerland whose seat is in Zug. RSM UK Consulting LLP, RSM Corporate Finance LLP, RSM Restructuring Advisory LLP, RSM Risk Assurance Services LLP, RSM Tax and Advisory Services LLP, RSM UK Audit LLP, RSM Employer Services Limited and RSM UK Tax and Accounting Limited are not authorised under the Financial Services and Markets Act 2000 but we are able in certain circumstances to offer a limited range of investment services because we are members of the Institute of Chartered Accountants in England and Wales. We can provide these investment services if they are an incidental part of the professional services we have been engaged to provide. Baker Tilly Creditor Services LLP is authorised and regulated by the Financial Conduct Authority for credit-related regulated activities. RSM & Co (UK) Limited is authorised and regulated by the Financial Conduct Authority to conduct a range of investment business activities. Whilst every effort has been made to ensure accuracy, information contained in this communication may not be comprehensive and recipients should not act upon it without seeking professional advice RSM UK Group LLP, all rights reserved