Matthew Thorn
Matthew Thorn is a restructuring and insolvency lawyer based in London.
Matthew has extensive experience acting for debtors, creditors, insolvency practitioners, directors and other stakeholders in financial restructuring transactions, almost all of which include a cross-border element. He advises on enforcement of debt and security and formal restructuring and insolvency processes. His work has recently focused on the energy, shipping, offshore, aviation and infrastructure sectors.
Matthew also acts on banking and finance matters.
Matthew has been at the firm since 2010 having previously worked for a leading law firm in New Zealand.
Practice Area
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- Contributing Author
1 Contributions by Matthew Thorn
PRACTICE NOTES
Excluding expense claims in administration and liquidation: contracting out, priority waterfall, UCTA reasonableness, ranking and practice (England and Wales)
It has long been standard for administrators and liquidators to try to cap their personal liability when entering contracts on a company’s behalf. In addition, office-holders frequently seek to limit liabilities incurred during an administration or liquidation where such liabilities would otherwise rank as an expense of the process. Expense claims sit only behind fixed charge claims and, in many cases, come ahead of the insolvency office-holder’s remuneration. This Practice Note considers the use of exclusion clauses intended to contract out of expense claims, summarising the history of the practice, the practical issues that may arise, and points for counterparties to weigh when agreeing such terms...
Background to the practice
In the course of an administration or liquidation, an office-holder may enter into numerous contracts for the company while exercising their powers and functions. The two principal categories are those for the continuing provision of goods or services during the appointment (in a liquidation, only to the extent necessary for a beneficial winding up rather than ongoing trading) and those concerning the...
Restructuring & Insolvency
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