In all our work, our principal purpose is to preserve or create value for stakeholders. To achieve this, we utilise solutions that cover the following options, including turnaround, operational and financial restructuring and insolvency; always approaching situations with understanding and respect to support you through difficult circumstances.

We work with a wide variety of different clients and stakeholders such as individuals, banks, funds, creditors, courts and government agencies and our support spans from individuals through to major, complex international organisations with interests around the globe.

Specialist advice in distress situations when and where you need it

Every situation is different and we have dedicated teams in all specialist areas to ensure you get the right advice for your situation. Our core restructuring and insolvency services are delivered through a growing team based locally in Cyprus supported by our Joint Venture Partner (Grant Thornton UK LLP), which has a team of 44 partners and directors and 323 professional staff, operating from 21 locations across the UK. Internationally we are supported by member firms in 51 countries who are authorised by Grant Thornton International to undertake restructuring and insolvency assignments.

In Cyprus, we deployed a joint Cyprus-UK team to deal with the liquidation of Cyprus Airways - one of the highest-profile and technically demanding liquidations ever undertaken in Cyprus. Internationally, our work has won industry turnaround awards, such as for Kodak where we have safeguarded the pensions of thousands of people in the UK. This is just one example of where our specialist focus provided our clients with a tailor-made solution.

Teams dedicated to specialist advisory services such as real estate advisory, restructuring tax and asset tracing enable us to ensure we provide the right options to our clients and their stakeholders.

Our UK JV partner has the largest dedicated team of asset-tracing and recovery specialists in the UK who have traced more than €200 million of misappropriated assets. Their insolvency team are market-leading and have worked on some of the most high-profile insolvencies in recent years including Madoff Securities International and Saad Investments Company Limited. They are often at the forefront of cutting edge legal developments, such as the recent UK Privy Council case of Singularis.

Our solutions

  • Insolvency: Sometimes the situation may be more critical. This may require the use of a formal insolvency process to deal with personal or corporate debt or to recover value for stakeholders.
  • Crisis stabilisation and turnaround:  Diagnostic analysis provides stakeholders with a clear understanding of the causes of underperformance and the strategic potential of a business – both crucial when assessing turnaround potential.
  • Operational and financial restructuring:  Financial distress could be either in its early stages with a fall in revenue or profitability; or more acute, with increasing cash pressures - struggling to meet financial commitments. Companies challenged by underperformance often need support in identifying options for financial or operational restructuring.
  • Accelerated mergers and acquisitions: In circumstances of business fragility, an Accelerated M&A process can be a vital tool to realise value for shareholders or creditors without damaging the underlying business.

Our Insolvency and asset recovery


If you're facing a time of personal or corporate financial crisis you need advice from someone who listens, who understands your specific issues and deals with them in a supportive and sensitive manner.

Crisis stabilisation and turnaround

In periods of financial distress, management teams often face considerable challenges, with many directors having little or no experience of similar conditions.

Operational and financial restructuring

Companies challenged by underperformance often need support in identifying options for financial or operational restructuring. Tapping this type of advice helps them create a stable platform for business turnaround.

Accelerated M & A

Even fundamentally sound businesses run into difficulties. Cash flow can come under pressure from the loss of a big client, or a dip in performance can threaten a breach of banking covenants if there is insufficient headroom.

Stephen Michaelides
Insolvency and asset recovery Partner
Stephen Michaelides
Read more

Insolvency and Asset Recovery Services