9.00am: I arrive at my desk and log on. I respond to any urgent emails or voicemails that have come in overnight from colleagues and clients. Then, as I make a tea, I mentally prepare a list of the tasks I need to complete during the day ahead and jot the list down as I return to my desk. A couple of team members are finishing off their breakfast and we take the time to have a quick chat. I ask them some questions that will help me with the day's work.
10.00am: One of the key ongoing responsibilities for the insolvency trainee is to monitor companies involved in our client's matters to ensure no-one is attempting to wind them up. I review the list of companies I'm due to check on and then phone the winding-up hotline at the Companies Court to check for any winding up petitions or notices of intention to appoint administrators. All the searches come up clear.
10.30am: Attending client meetings is encouraged by the team as they not only allow me to develop an insight into the specific legal issues our clients face but to also gain an understanding of the commercial sectors in which they operate. Today, it is a contentious matter: we have a banking client that appears to have been defrauded by one of its borrowers who subsequently went into administration. Together with a partner and senior solicitor, I meet with the client and the administrators to discuss the best strategies for recovering as much of the client's money as possible.
12.00pm: Following the meeting, I am asked to draft an attendance note summarising what was discussed and to research the possible causes of action that the bank has against the complicit third parties. I prepare a research note outlining the elements of the torts of deceit and negligent misstatement that I believe will be most relevant in achieving the client's objectives and, ultimately, recovering its losses.
1.00pm: If there's nothing urgent on, we're encouraged to take a full hour for lunch. As our office is located in Central London, there's plenty of choice and there is often hearty debate amongst the trainees when deciding on where to go. I enjoy the really warm atmosphere in my team. Not only is there a real camaraderie but everyone is really supportive and approachable. Team members are always happy to answer questions and talk about matters that they are working on.
2.00pm: Back from lunch, I am in the middle of typing up my attendance note from the morning's meeting when I am told we have been instructed to act on a pre-pack sale by a long-standing insolvency practitioner client. Time is of the essence on pre-pack sales and the administrators need to be appointed as soon as possible. I therefore have to be ready to switch between tasks and start preparing all the necessary documents required for the appointment of the administrators.
5.15pm: We are regularly approached by banks to review the security they have in place over borrowers who they suspect of having financial problems. Having dealt with the appointment of administrators for the pre-pack sale, a solicitor in the team briefs me on the latest review request we've had in from a banking client. My job is to go through the security documents the client has provided, including mortgages, debentures, and personal guarantees of the borrower's directors, to ensure they have been validly executed and to see if there are likely to be any obstacles to enforcing the security if the borrower defaults.
7.00pm: I am told not to stay too late working on the review and am encouraged to join some of the other trainees for a quick post-work beer. Trainees share their experiences and are more than happy to offer guidance and support. I head home realising that I have an early start the next day and wonder what tomorrow has in store.