Administrators from Begbies Traynor have implemented one of the first
pre-packs on a law firm.
Hextalls LLP entered into a pre-packaged administration, which saw a number
of its partners buy the business.
Hextalls has faced cash flow difficulties and problems with historic debt,
according to sister publication
Lawyers from LG also advised on the deal.
‘A pre-pack administration is a particularly useful tool for restructuring
law firms, as the speed of the transaction avoids the need for intervention by
the Law Society, and helps ensure clients’ needs are met and will also benefit
creditors,’ said LG partner Steven Cottee.
The second largest improvement in ‘significant’ levels of financial distress since the EU Referendum was in professional services, found research from Begbies Traynor
Engineering and technology executives have voiced concerns over the government’s industrial strategy and the need to fill the R&D funding and long-term investment gap in a post-Brexit Britain
This year’s Finance Act is 649 pages, the second longest recorded, and highlights the increasing complexity for taxpayers of an ever expanding tax code
Steve Absolom and Will Wright from KPMG Restructuring have been appointed joint administrators to City Motor Holdings and associated companies