Andrew Visintin, partner, Hammond Suddards Edge
Insolvency lawyers - or as many now prefer to be called, 'turnaround specialists' - are once again in the spotlight. Headlines talk of recession on a global scale, with UK banks increasing bad provisions by Ј1.5bn by the end of the year.
The changing role of insolvency lawyers over recent years has been well chronicled. Less well chronicled is how financing, especially to the small-medium enterprise market, has evolved, with phenomenal growth in receivables financing and asset-based lending
The receivables financing industry was given a further boost in June this year, when the Privy Council delivered its judgment in the case of Brumark Investments.
