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The facts are now unquestionable – the current global financial crisis is the worst in living memory.  Whilst some commentators have observed that the situation is easing and the “green shoots” of economic recovery are in sight, it would be a brave man who bets on a full recovery in the immediate or even foreseeable future.  The unemployment level and the rate at which it is rising are the highest since 1981 and there is continued instability in both the banking sector and the financial markets.

The vast majority of Halliwells’ clients have been affected in some way by this ongoing recession, but by working closely together we are helping our clients to seize opportunities, face challenges head on and overcome key business concerns.

Opportunities

Amidst the gloom, there are significant business opportunities. With company administrations at an all time high, the market is very attractive for those in a position to buy. A number of our corporate clients have made beneficial acquisitions by exploiting opportunities that may not have arisen without the current downturn. Indeed our corporate team has been recognised as one of the most active over the first quarter of 2009.

Challenges

The ongoing lack of readily available finance has presented our clients with real challenges. Our banking, corporate finance and private equity teams have been working hard on offering innovative solutions to trading through the recession.

Concerns

Client concerns are centring on restructuring, cost cutting and the financial viability of suppliers upon whom those clients rely to operate their businesses. Our employment team have been busy helping clients identify ways in which they can lawfully reduce staff costs whilst minimising the risks of Employment Tribunal claims and our commercial lawyers are becoming increasingly busy with strategic advice in terms of early contract termination.