Macfarlanes, White & Case stamp first City Link asset sale following administration
White & Case has joined a raft of firms picking up roles relating to the collapse of parcel delivery company City Link.
January 06, 2015 at 07:33 AM
2 minute read
White & Case has joined a raft of firms picking up roles relating to the collapse of parcel delivery company City Link.
The US firm is advising on the first sale of City Link's assets, acting for logistics company DX Group on its acquisition of assets worth more than £1.1m. The mandate adds White & Case to a line-up already including Macfarlanes, Mayer Brown and Gateley.
City Link's collapse hit the headlines when staff learned of the administration on Christmas Eve, when it appointed accountants EY as administrator. More than 2,300 staff were then made redundant on New Year's Eve.
Macfarlanes is advising EY Leeds-based partners Hunter Kelly and Charles King and Birmingham partner Tomislav Lukic, who were appointed as joint administrators of City Link Limited and City Link (Properties) No. 1 Limited last month (24 December).
The team gained the mandate after acting for private equity group Better Capital, which acquired the City Link companies for just £1 from Rentokil in 2013, on procedural matters relating to the appointment of the administrators.
Macfarlanes' team includes M&A partner Simon Perry, restructuring and finance partner Jat Bains and senior counsel and head of insolvency Simon Beale.
White & Case's team is being led by private equity partner Ian Bagshaw.
Mayer Brown and Gateley meanwhile advised City Link companies on the build-up to the administration.
Mayer Brown's team was led by restructuring partner Devi Shah.
Gateley's team included insolvency partner Daniel French and corporate restructuring partner Brendan McGeever.
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