Leading global offshore law firm Appleby have acted in Jersey, Guernsey and the Isle of Man for the Joint Administrators of major UK fashion retailers Monsoon and Accessorize. On behalf of FRP Trading Limited, the Appleby Insolvency and Restructuring Teams in Jersey and Guernsey have successfully obtained orders of recognition of the Joint Administrators’ appointment, to enable them to deal with assets in those jurisdictions and to facilitate the continuance of trade from the respective stores in each location, following the successful sale of the business and assets. Appleby’s Isle of Man office has also been involved in advising the Joint Administrators on issues of Manx employment and property law to facilitate the continuance of trade from the store in the Isle of Man. Appleby is the only firm which offers restructuring and insolvency capability across all three Crown Dependencies.
Jared Dann, Partner, supported by Gemma Whale, Senior Associate delivered Jersey legal advice; Anthony Williams, Partner, assisted by Andrew Murphy, Senior Associate, provided Guernsey legal advice. Commenting on the matter, Jared Dann said:
“This instruction, on such a high profile administration, is another excellent example of the Insolvency and Restructuring experience and expertise of Appleby’s global team. We have worked closely and successfully with FRP Trading Limited to procure recognition in both jurisdictions”.
Appleby has extensive restructuring and insolvency expertise across nine global offshore jurisdictions and are best placed to assist with procuring recognition of foreign insolvency proceedings and to facilitate cross border restructurings.