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Appleby have acted in Guernsey, Jersey and the Isle of Man for the Joint Administrators of some of the companies that make up the collapsed Arcadia Group.
The firm has acted for some of the brands including Burton Menswear, Dorothy Perkins, Wallis, Miss Selfridge and Topshop.
On behalf the Joint Administrators (each of Deloitte LLP), the Appleby Insolvency and Restructuring Teams for the Crown Dependencies have obtained orders of recognition of the Joint Administrators’ appointment, within just two days of the administration orders being made in the UK.
The recognition of the Joint Administrators in the jurisdictions will enable them to continue to trade the stores in those locations, whilst options are explored and the strategy of the administrations evolves.
The Appleby Insolvency and Restructuring Teams were also successful in securing a moratorium in Jersey, Guernsey and the Isle of Man, in substantively the same terms as the English law moratorium. This will ensure continuity of trade and prevent disruptive action that may undermine the purpose of the wider administration.
“This instruction, on such a high profile and well-publicised administration, is another excellent example of the Insolvency and Restructuring experience and expertise of Appleby’s global team," said Partner Jared Dann. "We have worked closely and successfully with the Joint Administrators to coordinate recognition being obtained in short order and concurrently across the Crown Dependencies."
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