Press Releases

Corporate restructuring is often seen as a last resort for businesses under pressure, but in reality, it has become an increasingly common feature of the corporate landscape.

Whether prompted by financial distress, changing market conditions or the desire to streamline operations, restructuring brings with it a unique set of challenges that are legal, commercial and human in nature.

Handled well, restructuring can provide a lifeline, preserve jobs and enable long-term recovery.

Handled poorly, it can deepen financial problems, damage reputations and trigger disputes between stakeholders.

Understanding the challenges that arise in a restructuring process is therefore crucial for anyone involved, from lenders and investors to management and employees.

Conflicting stakeholder interests

One of the most difficult aspects of restructuring is balancing the interests of different stakeholders.

Creditors may want repayment as quickly as possible, while shareholders are often focused on preserving value. Add to this that management may push for breathing space to turn the business around and it can quickly become complex.

These competing priorities can create tension and delay progress. For example, creditors may resist proposals that involve writing down debt, even if such concessions would allow the business to survive in the long term and allow payment of some of the debt to the creditor.

Similarly, disagreements between secured and unsecured creditors over repayment hierarchy can create further complexity.

Finding a path that balances these conflicting demands requires not only careful financial planning but also skilled negotiation and, often, legal intervention.

Regulatory and legal complexity

Corporate restructuring does not happen in a vacuum. It sits within a web of insolvency law, company law, financial regulation and, increasingly, cross-border rules and other law specialisms, such as property and employment

This regulatory landscape is constantly evolving. For example, the Corporate Insolvency and Governance Act 2020 introduced new tools for companies in financial distress, such as the standalone moratorium and restructuring plan.

While these offer new options for businesses, they also introduce fresh complexities that need to be understood and managed.

For international businesses, cross-border restructurings raise additional questions about jurisdiction, recognition of proceedings in other countries and conflicting creditor claims.

The ticking clock

Restructuring is often carried out under severe time constraints. Businesses under financial strain need quick solutions to prevent further deterioration, but rushing negotiations can lead to mistakes or missed opportunities.

Time pressure also impacts stakeholders differently. For example, a lender may prefer a swift sale of assets to recover some of its investment, while management may want more time to explore refinancing or operational restructuring.

The result is a process where urgency and precision must be balanced carefully, moving too slowly risks insolvency, but moving too quickly can undermine the business’s long-term success.

Reputational risks

How a restructuring is handled can have a lasting impact on the reputation of a business. Suppliers may be reluctant to extend credit in the future, customers may lose confidence and employees may feel uncertain or disengaged.

A poorly managed restructuring can therefore leave scars that extend beyond the immediate financial issues. Conversely, transparent communication and fair treatment of stakeholders can preserve goodwill, making recovery easier once the restructuring is complete.

The human factor

Restructuring is not just about numbers on a balance sheet. It often involves redundancies, the closure of business units or the transfer of operations. These decisions carry significant human consequences, affecting livelihoods, morale and workplace culture.

Ignoring the human dimension can undermine the restructuring itself. Low morale and high staff turnover may weaken the business further, while poor handling of redundancies can lead to legal claims and reputational damage.

Successful restructurings, therefore, take account of the human impact and invest in communication, consultation and fair processes.

Strategic restructuring

While restructuring is often associated with financial distress, it is increasingly being used as a strategic tool. Companies may restructure to focus on core activities, divest underperforming units or adapt to technological changes in their industry.

In these cases, the challenges remain, stakeholder management, legal complexity and reputational considerations all still apply, but the motivation is proactive rather than reactive. Strategic restructurings can be just as complex, but they also offer opportunities for businesses to become more agile and competitive.

Make the best out of restructuring

Economic uncertainty, rising interest rates and global instability mean that restructuring is likely to remain a significant feature of the UK corporate landscape.

Distressed investors and specialist funds are already highly active and lenders are increasingly scrutinising borrowers’ ability to adapt to shifting market conditions.

For businesses, lenders and investors alike, the key takeaway is that corporate restructuring is never straightforward.

It requires not only financial solutions but also careful management of relationships, culture and reputation.

Success depends on anticipating challenges, acting quickly and building a structure that can support sustainable growth. If you need support with a restructuring speak to our specialist banking and finance team.

Sexual harassment remains a pressing workplace issue and one that employers cannot afford to ignore.

The legal duty on employers to tackle this problem changed significantly on 26 October 2024, when the Worker Protection (Amendment of Equality Act 2010) Act 2023 came into force.

This law introduced a proactive duty on employers to take “reasonable steps” to prevent sexual harassment of workers during the course of their employment.

One year on and many employers are still adjusting to these new obligations, but with further changes expected in the Employment Rights Bill in this area, it is worth revisiting.

What the duty to prevent sexual harassment requires

The requirement is not about reacting once an incident has taken place, but about anticipating risks and taking steps to prevent harassment from happening in the first place.

Employers must:

• Put in place reasonable and proactive measures to prevent harassment.
• Ensure that, if harassment does occur, action is taken to stop it happening again.
• Recognise that compliance is ongoing and needs regular review.

This duty is specific to sexual harassment and does not extend to other types of harassment under the Equality Act, such as those relating to age, race or disability.

Failure to have the right measures in place can leave employers exposed to the potential of an employment tribunal claim and so shouldn’t be taken lightly.

In addition, Employment Tribunals can uplift the employee’s discrimination compensation by up to 25 per cent and the Equality and Human Rights Commission has the power to investigate and take enforcement action.

These obligations require businesses to be proactive in their approach.

What should businesses be doing?

If you haven’t already there are four critical steps that employers should either have undertaken or should act swiftly on. These are:

• Updating policies with clear examples and simple reporting routes
• Offering more than one way to report concerns, including anonymous options
• Provide regular, practical training for staff and managers
• Ensure leaders set the tone and take responsibility
• Undertake risk assessments relating to sexual harassment

If you haven’t taken any steps since the Act came into effect last year then you cannot afford to wait. It is important to take action and seek legal advice if you need it.

Measuring effectiveness

A year on, the most effective employers are those who have moved beyond policies on paper to put practical systems in place.

Measuring effectiveness is central to compliance and there are several ways to do this:

• Anonymous staff surveys to gauge employees’ experiences, perceptions of safety and confidence in reporting mechanisms.
• Analysis of reported incidents, including those that do not progress to formal disciplinary action, to identify patterns or recurring problems and how employees can be better protected.
• Risk assessments to ensure policies and procedures adapt as the organisation grows or changes.
• Regular training updates to ensure employees and managers understand what constitutes harassment and how to respond.

These measures not only reduce risk but also build trust, encouraging employees to come forward if issues arise.

What’s next?

The Employment Rights Bill, expected to become law in November 2025, will strengthen these obligations further. Currently it is expected that:

• From April 2026, disclosures about sexual harassment will qualify as protected disclosures (whistleblowing), meaning workers cannot be dismissed or disadvantaged for raising concerns.
• From October 2026, employers will need to take “all reasonable steps” (a higher standard than the current “reasonable steps”) to prevent sexual harassment.
• From the same date, employers will also become directly liable for third-party harassment, such as harassment by clients, customers or members of the public. Employees will be able to bring claims if employers fail to protect them.

Continuous improvement

The key takeaway one year on is that compliance is not static. It is expected that from 2027, there will be the power to enable regulations to specify steps that are to be regarded as reasonable. Employers need to review, revise and adapt their policies and practices regularly to ensure they remain effective.

With stronger obligations on the horizon, employers that act now to embed a culture of respect, trust and accountability will be best placed to protect their employees and remain compliant.

For support with reviewing and improving your approach to preventing sexual harassment, please speak to our employment law team.

After a record-breaking year in 2024, the UK mergers and acquisitions (M&A) market in 2025 appears to be on a steadier footing.

While headline deal values have fallen, there is no shortage of activity, especially among SMEs and in resilient sectors, such as healthcare, technology and manufacturing.

This is not a market in decline but one that is recalibrating. Deals may be smaller, but opportunities remain strong, particularly for those who are well-prepared and legally protected.

The shape of the market

• Mega-deals are fewer – Multi-billion-pound transactions have slowed, but mid-market deals are thriving.
• SME activity is strong – Sub-£100 million deals now dominate the landscape, showing sustained appetite for smaller, strategic acquisitions.
• Sector trends – Healthcare continues to grow, technology remains highly active and manufacturing retains international interest. Consumer-facing markets are quieter, reflecting shifts in demand.
• Private equity influence – While reduced compared to last year, PE houses remain a key source of funding and acquisitions.

What this means for business owners and investors

For those considering a sale, 2025 could be a favourable time. Buyers are active, valuations are more realistic and demand in sectors such as healthcare and technology remains strong.

For buyers, calmer competition creates opportunities to negotiate more favourable terms and pursue acquisitions that support long-term growth.

Either way, preparation is key and this is where legal considerations come into play:

• Deal structuring – Tailored structures are increasingly common, particularly where buyers are cautious. A well-structured deal can ensure the commercial terms work in your favour.
• Due diligence – With greater regulatory scrutiny and international involvement, thorough due diligence is critical to uncover risks before they impact value.
• Cross-border complexities – Many deals involve overseas investors or expansion abroad, requiring careful navigation of different legal systems.
• Risk allocation – Warranties, indemnities and carefully drafted contracts remain vital to protect both buyers and sellers against unforeseen liabilities.

Looking ahead

Despite wider economic uncertainty, the fundamentals remain encouraging. Interest rates are easing, liquidity is available and international investors continue to show strong interest in the UK. Analysts expect activity to accelerate towards the end of 2025 and into 2026.

The message is clear: while the era of blockbuster transactions may have slowed, opportunities remain plentiful for businesses that are strategic, well-prepared and guided by sound legal and commercial advice.

Sources: https://www.ons.gov.uk/businessindustryandtrade/changestobusiness/mergersandacquisitions/bulletins/mergersandacquisitionsinvolvingukcompanies/januarytomarch2025

https://www.mha.co.uk/insights/uk-business-deals-in-2025-signs-of-a-comeback-despite-global-challenges

https://www.hsfkramer.com/insights/2025-04/uk-public-ma-consolidated-update-april-2025

When you’re planning your estate, your Will sets out the legal side of things, who gets what and who is responsible for carrying out your instructions.

However, the law alone doesn’t tell the whole story and that’s where a letter of wishes could prove useful to you.

Whilst not legally binding, it can give you the chance to explain decisions in your own words, offer guidance to executors and trustees and give loved ones clarity at what can be a difficult time, alongside the more formal matters in your Will.

What can a letter of wishes cover?

Your letter can provide extra detail to support your Will. For example, you can:

• Explain how you would like your executors to divide money or personal items
• Give trustees clear direction on how to manage any trusts you’ve set up
• Share why you have chosen certain people for key roles such as executor or trustee
• Set out your reasons for leaving (or excluding) someone from your Will — which can reduce the risk of future disputes

It’s your opportunity to make sure the people carrying out your wishes understand the thinking behind your decisions.

Can I include funeral wishes?

Yes. If you haven’t already told your family, a letter of wishes is a simple way to set out what you’d like for your funeral.

You might want to say whether you wish to be buried or cremated or even include details such as songs, hymns or readings. Writing it down helps take the burden of guesswork away from your family.

When should I write one?

The best time to write a letter of wishes is when you make your Will. Keeping them together ensures nothing gets lost and you can update your letter whenever your circumstances or your Will, change.

Unlike a Will, a letter of wishes doesn’t need witnesses, but it should always be signed and dated.

How Palmers Solicitors can help

A letter of wishes is a useful way to provide comfort and clarity for your family, but it works best when it is carefully thought through and tied in with your Will.

Our private client team can guide you through the process, helping you decide what to include and making sure your letter works hand in hand with your Will.

If you’d like to make a Will or add a letter of wishes, get in touch with our team today for clear, practical advice.

Everyone deserves to feel safe and respected at work. When that doesn’t happen and you begin to feel targeted by bullying or harassment, it can leave you unsure of what to do next.

Knowing your rights and the steps you can take can make the situation easier to navigate, which is why our team have outlined what to look out for if you feel you are being victimised.

Recognising bullying and harassment

Bullying at work can take many forms. Sometimes it is obvious, such as being constantly criticised, spoken to unfairly in front of colleagues or excluded from meetings.

Other times it can be less visible, like malicious rumours being spread or subtle favouritism that leaves you feeling isolated. Whatever shape it takes, this behaviour is not acceptable.

Harassment is closely linked but is specifically defined in law. Under the Equality Act 2010, if the treatment you are experiencing relates to characteristics such as your age, sex, race, disability, religion, sexual orientation, pregnancy or gender reassignment, it may be classed as harassment.

In these cases, the law provides you with further protection.

Taking the first steps

If you believe you are experiencing bullying or harassment, the first step is to keep a record of what has been happening.

Writing down dates, times, what was said or done and who else was present can help you feel more confident in explaining the situation when the time comes.

It may then help to check your workplace policies. Most employers have clear procedures setting out how complaints should be raised and who you can talk to.

For some people, this might be their manager, but if you do not feel comfortable doing that, you may be able to speak to HR or another senior colleague instead.

Some workplaces even have a named individual whose role is to handle these kinds of concerns.

Raising a concern can feel daunting, but you are not alone. Many people find it helpful to talk it through first with a trusted colleague, a union representative or a professional adviser.

What to expect when you speak up

Once you do raise your concern, your employer has a responsibility to handle it fairly.

They should listen to you respectfully, keep everything confidential, explain what happens next and make sure the issue is investigated properly.

If you have seen someone else being treated badly, you also have the right to raise this and your employer should take it just as seriously.

Bullying and harassment can have a huge impact on your wellbeing and confidence and it should never be ignored.

Speaking up can feel difficult, but by doing so you not only protect yourself, you also help create a workplace where everyone can feel safe and respected.

How Palmers Solicitors can help

If you are facing bullying or harassment at work and are unsure of your rights or the best way forward, our employment law specialists at Palmers Solicitors can provide confidential advice and guidance.

We can help you understand your options, support you through the process and make sure your concerns are taken seriously.

Get in touch with our team today to talk about your situation in confidence.

When a marriage breaks down, most people focus on the family home or immediate finances.

Yet pensions are often the largest asset of all and one of the easiest to overlook. We regularly see how vital it is to understand what happens to pensions in a divorce.

Failing to consider them properly could leave one spouse without the retirement security they deserve.

Why pensions matter in divorce

For many families, one spouse builds up a pension while the other spends years raising children or working part-time.

Ignoring pensions in a divorce settlement risks leaving one party without long-term financial security.

The courts recognise this which is why pensions must be considered alongside other assets such as property and savings.

How pensions can be divided

There are two main approaches:

• Offsetting – One spouse keeps their pension while the other takes a larger share of another asset such as the family home. This approach was common before the introduction of pension sharing.
• Pension sharing – The pension itself is divided between the parties through a court order. This can provide a fairer long-term outcome as assets like property may not offer the same retirement security.

A pension sharing order can also create a “clean break” giving each person financial independence moving forward.

Since the Welfare Reform and Pensions Act 1999, pension sharing has been available in divorce cases.

The Law Commission has even suggested making this the default option to ensure fairness but for now couples must apply to the court for a pension sharing order.

That is why getting specialist advice early in the process is essential. Without it you could lose out on what may be your most significant financial asset.

Planning ahead

If you are facing the prospect of divorce, here are a few things to consider:

• Apply early – A pension sharing order should be dealt with during or immediately after divorce proceedings to avoid uncertainty.
• Think long term – Retirement savings often outweigh the value of other assets in the future.
• Consider pre-nuptial agreements – These can set out how pensions will be divided if the marriage breaks down though a court order is still required at divorce.

Adding pensions to an already complex situation can provide additional stress, but it is  important that you don’t miss out on this opportunity.

Historically, many women have found themselves with diminished pension pots due to their contributions to the family in other areas, so they should particularly pay attention to a potential claim during financial settlement.

How Palmers can help

Pensions are complicated but you do not have to tackle them alone. Our experienced family law solicitors guide clients through financial settlements with clarity and compassion.

We aim to help you avoid unnecessary disputes and secure a fair outcome that protects your future.

If you are separating or already going through divorce proceedings, do not leave your pension out of the conversation. Contact Palmers today to make sure your retirement security is safeguarded.