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BLACKHILLCAPITAL
All advisory practice lines

06 — Complementary capability

Corporate Restructuring

We advise companies with complex liabilities on reorganising their capital structure using the same technical lens applied to pricing distressed assets — from the opposite side of the table, and without a fund manager's bias.

01The problem

A company with stressed liabilities must negotiate with creditors who hold different incentives, different security and more information. Without independent advice, the negotiation ends up led by the better-prepared side — which is rarely the debtor.

02Why it is complex

  1. 01

    A complete mapping of liabilities — bank, tax, labour and supplier — precedes any negotiation.

  2. 02

    Creditors with different security have different incentives: negotiation sequencing matters as much as the merits of the proposal.

  3. 03

    The need for new money conditions the available security structure and priority ranking.

  4. 04

    Choosing between out-of-court renegotiation and a judicial process materially changes timeline, cost and reputational exposure.

03Who can engage us

We act under mandate. Fit is assessed case by case, before any commitment.

  • Mid-sized and large companies with material bank, tax or trade liabilities

  • Corporate groups in debt renegotiation

  • Shareholders and boards assessing capital alternatives

  • Companies seeking new money with a security structure

04How we work

Advisor, structurer and intermediary. We do not acquire the asset we advise on.

  1. 01

    Assessment of liabilities and actual capacity to pay.

  2. 02

    Design of the renegotiation plan and creditor approach sequencing.

  3. 03

    Structuring of new money instruments and corresponding security.

  4. 04

    Conduct of negotiations as the company's independent adviser.

Conduct

Senior and direct conduct, jointly with the company's own legal advisers. Blackhill does not issue legal opinions and does not replace legal representation.

How Blackhill executes

05Framework and references

Principal
The company — exclusively
Scope
Bank, tax and trade liabilities
Instruments
Renegotiation · new money · security
Limit
We do not issue legal opinions

This material does not constitute: (i) a public offering of securities; (ii) a legal opinion; (iii) an investment recommendation; (iv) a promise of returns; nor (v) a guarantee of any nature. Investment decisions rest exclusively with the investor, based on their own analysis and independent due diligence.

06How to start

Start a confidential conversation.

A first approach requires no documents, counterparty names or transaction data. The context in broad terms is enough for us to assess whether there is mandate fit.

  1. 01

    Preliminary contact

    You describe the context in general terms. We assess fit and come back with an initial reading.

  2. 02

    Confidentiality

    Where there is fit, an NDA is executed before any sensitive information is shared.

  3. 03

    Analysis and mandate

    With documentation available, we define the scope of work and the terms of the mandate.

Discuss a Transaction

Preliminary contact does not constitute a mandate, a binding proposal, a commitment to structure or any guarantee of execution. Accepting any engagement depends on prior analysis and a formal agreement between the parties.

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