BusinessBusiness RecoveryBuchler eyes Baltimore

Buchler eyes Baltimore

David Buchler, the turnaround specialist and vice chairman of Tottenham Hotspur FC, could step into the director's seat of former FTSE 100 dotcom Baltimore Technologies, after its major shareholder launched a bid to remove the board.

Acquisitor Holdings, which owns a 10.1% stake in Baltimore, last week exercised its right to call for an extraordinary meeting at which it will move to insert Buchler as chairman. The meeting will be held within the next three weeks.

The move was criticised as ‘opportunistic’ by Baltimore, which claimed it was an attempt to deprive shareholders of a premium by sidestepping the need to make a formal offer for the company.

But Buchler said: ‘I think the shareholders should now have the right to consider the option of staying with the existing board or putting faith in a new one with a proven track record.’ He described Baltimore’s fall from the FTSE 100 as ‘one of the largest decreases in market capitalisation value in UK history’.

London accountant Buchler is a former president of business recovery body R3 and co-founder of turnaround firm Kroll, previously Kroll Buchler Phillips.

The Baltimore job would be the most high-profile appointment for his recently launched turnaround business, DB Consultants. The firm promises to take on the responsibility of company directorships in the UK and Europe, a role it claims few turnaround businesses are prepared to contemplate.

Related Articles

Carillion CFO blew whistle over 'sloppy accounting' months before collapse

Business Recovery Carillion CFO blew whistle over 'sloppy accounting' months before collapse

3m Alia Shoaib, Reporter
Toys R Us UK and Maplin enter into administration after failing to secure buyers

Business Recovery Toys R Us UK and Maplin enter into administration after failing to secure buyers

3m Alia Shoaib, Reporter
How to avoid a Carillion collapse

Business Recovery How to avoid a Carillion collapse

4m Russell-Cooke
Carillion collapse: The week so far and industry reaction

Business Recovery Carillion collapse: The week so far and industry reaction

4m Emma Smith, Managing Editor
Kingston Smith & Partners appointed trustees in bankruptcy of ex-Newcastle United footballer

Business Recovery Kingston Smith & Partners appointed trustees in bankruptcy of ex-Newcastle United footballer

4m Emma Smith, Managing Editor
Carillion: PwC appointed as special managers – what happens now?

Business Recovery Carillion: PwC appointed as special managers – what happens now?

4m Emma Smith, Managing Editor
Investment firm acquires Avon Steel Company Limited

Business Recovery Investment firm acquires Avon Steel Company Limited

6m Emma Smith, Managing Editor
Manchester law firm enters into administration

Business Recovery Manchester law firm enters into administration

6m Emma Smith, Managing Editor