05 Oct 2015 | 04:05 pm | 1 min. read
International law firm Pinsent Masons and turnaround and restructuring specialists Quantuma LLP have advised London law firm Jeffrey Green Russell on a pre-pack administration which saw the firm merge with law firm and consulting group Gordon Dadds.
Jeffrey Green Russell filed a notice of intention to appoint administrators on 30 September. Under the terms of the deal, completed late on Friday 2 October, most of the current directors of Jeffrey Green Russell Limited will become partners of Gordon Dadds, simultaneously transferring their clients and practice teams over to Gordon Dadds.
The merger will see Gordon Dadds become a full-service professional services firm encompassing everything from multi-jurisdictional litigation and FTSE 100 consulting to compliance, HR, workplace benefits and personal tax advice.
The Pinsent Masons team advising on the deal was led by Restructuring partner Steven Cottee assisted by Serena McAllister and Bhaljinder Mander.
Steven Cottee commented: “We were delighted to assist Jeffrey Green Russell in completing a pre-pack sale to Gordon Dadds. This deal has helped protect the interests of a significant number of employees and clients of the firm.”
Andrew Hosking and Simon Bonney of Quantuma LLP were appointed Joint Administrators on 2nd October 2015 following which they executed the sale to Gordon Dadds. Andrew Hosking, who led the negotiations, confirmed: “The sale to Gordon Dadds not only preserves jobs and the interest of the firms’ clients but also represents the best return to creditors. In relation to Client monies, these will be migrated over to GD but any specific queries in relation to client account monies should be addressed to the Solicitor Manager, Sam Palmer of Ashfords LLP”.
Pinsent Masons has a market leading practice in relation to law firm restructurings, having been involved with Halliwells, Cobbetts, Manches, Harris Cartier, Linder Myers and Davenport Lyons.
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