Content
Vernon Dennis

Vernon Dennis:

Partner: Head of Business Recovery & Reconstruction

Vernon has over 20 years’ experience in designing and implementing financial recovery and restructuring plans for his clients. Leading our specialist group he also utilises the full resources of the firm from tax and banking through to employment and property to provide pragmatic and commercially driven solutions. Known for his technical expertise Vernon advises insolvency practitioners, creditors and debtors on a wide range of corporate recovery, reconstruction and business rescue issues, both domestically and cross-border. He specialises in strategic and advisory support for company boards when planning programmes of business turnaround or restructuring.

Vernon is a Fellow of R3 (The Association of Business Recovery Professionals) and the author of ‘The New Law of Insolvency’ (2003) ‘Insolvency Law Handbook’ (1st Ed 2005; 2nd Ed 2007 and 3rd Ed 2013) ‘Administration’ (2010) ‘Liquidation’ (2011) and ‘Bankruptcy’ (2012).

Recent work

  • the Board of the UK’s leading cosmetic surgery provider concerning the PIP breast implant scandal and the financial difficulties that this caused the business. This led to the planning and implementation of a restructuring programme and the rescue of the business
  •  the administrators of Prince Sports Europe, a leading racquet sport retailer, in the rescue of its business. This pan-European case involved co-ordination of legal processes and transfers of businesses and staff in six jurisdictions
  • numerous creditors on the collapse of companies, including, Lehman Brothers, E-Clear, Nortel and MF Global
  • the landlords on many of the most significant restructuring or collapses of retail sector tenants, such as Woolworths, MFI, Focus DIY, JJB Sports, Blacks Leisure, La Tasca and Travelodge
  • an offshore bank on the recovery of a multi-million pound residential property loan to a high profile Eastern European HNW. This was because of international/cross-border criminal investigations, civil recovery actions and worldwide freezing orders. The advice led to appointment of a receiver, realisation of the property and repayment of the client’s debt
  • the landmark cases of Care Matters and Virtualpurple, both of which provided clarity on the validity of administration appointments
  • a number of property restructurings supporting key stakeholder/developers, involving wide ranging corporate, banking and property advice. This has included hotels, leisure, retail, tourist attractions, office rental space and a series of residential development sites across the country

Publications

Co –author of The New Law of Insolvency, he is the sole author of Insolvency Law Handbook the third edition of which was published in 2013. He is also author of The Insolvency Law Series of Books 'Administration (law Society 2010), Liquidation’ (Law Society 2011) and ‘Bankruptcy’ (Law Society 2012).

Random fact

Vernon’s first published work was an article in the match day programme for the January 1990 League Division 4 clash between Colchester United and Stockport County.