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Insolvency, Debt Recovery, Business Rescue and Corporate Restructuring Practice.
Alliance Law Firm (ALF) is a commercial law firm that provides practical solutions for insolvency, debt recovery, business rescue, and corporate restructuring. We are strong advocates for enhancing existing statutory frameworks to promote a modern approach to corporate reorganisation, business rescue, turnaround, and insolvency arrangements in Nigeria.
Our Insolvency, Debt Recovery, Business Rescue, and Corporate Restructuring team consists of seasoned professionals with a comprehensive understanding of insolvency laws and their practical applications to assist clients effectively. We anticipate challenges and proactively devise solutions, ensuring swift and decisive action. Our firm is trusted by a diverse range of clients across various sectors, including government institutions.
We tailor our services to align with our clients’ commercial objectives, regardless of whether they are creditors, borrowers, mortgagors, or mortgagees. Our deep understanding of our clients’ businesses distinguishes us from other service providers. We are keenly aware of the business, economic, socio-cultural, and emotional implications of the various insolvency procedures. Therefore, we work closely with you to ensure the right approach is taken and your interests are safeguarded. We stay updated on the latest changes in insolvency laws to provide our clients with the best legal advice.
At ALF, we recognize that every insolvency case is unique, and we employ a solutions-oriented approach to achieve the best possible outcomes for our clients. Our insolvency lawyers collaborate with you to understand your financial situation and develop tailored strategies to meet your desired objectives, provide relief, and facilitate financial rehabilitation.
Using a multidisciplinary approach, we offer advice on all aspects of insolvency, including restructuring, turnarounds, and creditor management. Our service offerings include, but are not limited to, developing workout plans with creditors, loan restructuring, filing bankruptcy applications, receivership, voluntary administration, liquidation, schemes of arrangement, distressed and insolvent trading, security enforcement, mergers and acquisitions, due diligence, recovering debts, conducting sales of non-performing assets, arranging debtor-in-possession financing, negotiating reductions in corporate debt obligations, orchestrating liquidation processes, and managing the full spectrum of corporate distress—from early stages through creditor workouts, debt and equity restructurings, workforce reorganizations, corporate transformation, and formal insolvency administration.
We have a strong track record in advising on highly complex distressed situations, which may also involve litigation. Our world-class litigation team possesses specialized expertise in defending against litigation arising from insolvency scenarios. Our insolvency lawyers can represent your interests in court and negotiate with creditors, working diligently to protect your rights and achieve the best possible outcomes for your case. The ALF Insolvency Team was awarded Insolvency Team of the Year in 2019 and is recognised among the best in the field.
We also have leading practices in employment, banking and financial services, commercial disputes, and commercial transactions, allowing us to deliver comprehensive insolvency advice.
Selected Indicative Experience
- Recovery of the sum of circa USD $36 million through Receivership/Management for a Nigerian commercial Bank from two indigenous retail companies.
- Recovery of circa USD $ 23 million under the CBN Anchor Borrowers’ programme from an association.
- Recovery of circa USD $4.5 million through Receivership /Management for Ecobank Limited.
- Representing an indigenous oil and gas servicing company in a winding up proceeding against a Nigerian company for the latter’s inability to pay its debt totalling the sum of circa USD$1.8 Million.
- Recovery of circa USD $5.3 million through Receivership /Management for a mid-tier commercial Bank from debtors.
- Recovery of circa USD $3.5 Million through vessel/cargo arrest, litigation and asset disposal on behalf of a bank against ‘MT Ellal’.
- Receivership /Management appointment by a Bank over Optima Group and Bloomberg TV Africa to recover circa USD $ 3.7 million indebtedness.
- Receivership/Management appointment by a Bank over a Mall in Abia State to recover circa USD $ 18.5 million.
- Defended a Company in a hostile winding-up petition by one of its creditors and had the petition dismissed;
- Defending a company in an ongoing hostile winding-up Petition by a Creditor;
- Receivership/Management appointment over a Steel company in the recovery of circa USD $ 18 million;
- Recovery of circa USD$ 8.5 Million for a gas company from a trade partner
- Recovery of circa USD $3.5 Million for a Swiss Company from a trade partner based in Nigeria
- Recovery of circa USD $ 8.7 million debt through a combination of litigation, an Administrative Hearing at the Securities and Exchange Commission (SEC) and negotiated settlements for a stockbroking Firm against a Bank over improper treatment of subscription and allotment of shares.
- Recovery of circa USD $ 13.2 million through Receivership /Management for a mid-tier commercial Bank from debtors.
- Ongoing Winding up proceedings to recover over USD $ 10.5 million for a bank.
- Recovered trade debt of circa USD$ 3.2 million for an Engineering company through a winding-up petition of the creditors.
- Successfully joined a Creditors Club on behalf of two creditors in the winding up proceedings for Afren with substantial claims at the Federal High Court.
- Successfully joined a Creditor winding up petition in a suit to recover substantial debt owed to our clients by BELBOP Limited
- Provided advisory services to AMCON on the acquisition of circa USD $200 million worth of eligible bank assets relating to NATCOM Development & Investment Limited and the most appropriate structure to adopt in the debt restructuring and business reorganisation of NATCOM Development & Investment Limited.
- Rendered Legal opinion to foreign law Firms on Nigerian Insolvency Law and related matters.
- Collaborating with some foreign Law Firms to assist with insolvency proceedings in Nigeria against some debtors based in Nigeria.
- Advising a leading telecommunication service provider in connection with the acquisition of an indigenous information technology company.
- Currently advising a major Nigerian oil and gas company on its intra-group corporate restructuring consisting of 15 different corporate entities operational in diverse sectors of the Nigerian economy.
- Advised an investor on its acquisition of a significant interest in a quoted construction company in Nigeria which is a subsidiary of a major European infrastructure group.