Severe Cost Pressures Are Pushing UK Energy Suppliers into Insolvency, Restructuring
By Michael Jacobs, Senior Counsel & Matthew Daffurn, Partner, Locke Lord (UK) LLP
At the time of writing, approximately 30 UK-based energy supply companies have ceased trading since the start of 2021 alone, affecting millions of customers and altering the landscape of the UK’s retail consumer energy market. With the threat of continued increases to wholesale energy prices...
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Michael Jacobs is a senior counsel in the litigation group of Locke Lord’s London office. He has a broad disputes practice with a strong focus on financial services, contentious restructuring/insolvency, and privacy/technology. With a particular focus on creditor-side mandates, Jacobs has worked on some of the most significant UK and international corporate bankruptcies and financial institution collapses in recent years, such as Lehman Brothers, HBOS, Novo Banco, and Afren.
Matthew Daffurn is a partner in the energy group of Locke Lord’s London office. He advises on project financings, project development, and mergers and acquisitions in the energy and infrastructure sectors across the UK, Europe, and emerging markets. In recent years, Daffurn has advised clients on key elements of a number of restructuring and insolvency processes in the energy and petrochemical sectors.