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Collas Crill has advised fund manager, Phoenix Asset Management Partners, in connection with a multi million pound investment in Stanley Gibbons Group Plc.
The law firm worked with Phoenix Asset Management Partners on the £19.45million deal between Phoenix UK Fund Ltd and the Guernsey based stamp and collectibles business,
The transaction involved the restructuring of external debt and the acquisition of certain rights of the Group in intercompany indebtedness of Stanley Gibbons (Guernsey) Limited, which went into administration towards the end of 2017.
Phoenix, which now owns a 58% (approx.) stake in AIM-listed Stanley Gibbons Group, also has a substantial holding in iconic toy maker, Hornby, another AIM-listed company.
The Collas Crill team was led by Sean Cheong (banking partner) and Michael Adkins (insolvency and restructuring partner) in Guernsey, assisted by Fiona Wilson and Gareth Morgan, senior associates in Jersey and Guernsey, respectively.
Ms Cheong said: "Stanley Gibbons is practically a household name in the Channel Islands, so this is an important deal locally.
"We were pleased to be able to work with Phoenix's onshore Counsel, Taylor Wessing, to deliver the outcome for the client within challenging deadlines."
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