House of Fraser supply chain issues
In light of the administration of House of Fraser, we advised a key stakeholder in connection with its concession and online trading agreements. We provided strategic advice to the stakeholder on its ability to terminate its agreements on the administration of the retailer and the particulars of that process in order to ensure that the stakeholder's goods were protected and also that they had maximum leverage in any future contractual discussions with the purchaser of the business.
Joint venture with a Carillion group company
We advised a 50% foreign stakeholder in connection with its English joint venture company, where the other shareholder was part of the Carillion group and in compulsory liquidation. Working with incumbent advisors we provided specialist insolvency support in respect of the proposed options for joint venture going forward.
We examined the rights in the joint venture agreement in light of key insolvency principles including anti-deprivation and subsequently negotiated the acquisition for value of the Carillion-owned equity. Careful advice was required, both legal and commercial, on how best to deal with change of control provisions in key contracts entered into by the joint venture.