Nicholas Hughes, of our London’s restructuring and insolvency team, recently advised on an application to revoke a supply licence for an electricity supply company, MA Energy Limited. The customers were transferred under the SoLR procedure and Nick assisted in appointing an administrator for the electricity supply company.
Asher Miller, partner at Begbies Traynor, worked with Nicholas throughout the process. He said: “I have worked with Nick for many years. He has proved himself time and time again to be an effective problem solver and a tenacious litigator.
“His flexibility, along with his collaborative approach to the work he undertakes, makes him an integral part of the team on any assignment. It is these qualities, along with his strategic technique, that mean that Nicholas is unlike many other lawyers who see things through a much narrower lens when advising.”
Nick also worked with the head of our London R&I team, Dan Sejas, on resolving similar problems for a second energy company Ampower UK Limited, and again the company was put into in administration.
Whilst the immediate pressure on energy companies is expected to ease with the proposed increase in the price cap in the spring, Nick expects to be called upon to assist companies and insolvency practitioners working in other sectors where re-structuring will be required as the economy leaves the pandemic behind.