Dentons tends to Patientline administration
Denton Wilde Sapte has won the lead role on the collapse of Patientline.Patientline, which provides telephone, television and internet services for patients in hospitals, was placed into administration on 25 July.The top 20 firm has been advising administrator Deloitte on the collapse as well as advising a syndicate of lending banks to the company. The banks, which include Royal Bank of Scotland and HSBC, have exchanged some £35m of their debt in Patientline in return for shares in a new company, Hospedia, which now owns Patientline UK.
August 06, 2008 at 10:34 PM
2 minute read
Denton Wilde Sapte has won the lead role on the collapse of Patientline.
Patientline, which provides telephone, television and internet services for patients in hospitals, was placed into administration on 25 July.
The top 20 firm has been advising administrator Deloitte on the collapse as well as advising a syndicate of lending banks to the company.
The banks, which include Royal Bank of Scotland and HSBC, have exchanged some £35m of their debt in Patientline in return for shares in a new company, Hospedia, which now owns Patientline UK.
Hospedia is also planning to buy Premier Telesolutions, which offers a similar service to Patientline, subject to approval from the Office of Fair Trading.
Banking and finance partner Graham Paine led the Dentons team advising on the administration, with corporate partner Jeremy Cohen advising on the formation of Hospedia and the conditional acquisition of Premier Telesolutions.
Osborne Clarke has advised Premier Telesolutions on its acquisition, with London corporate partner Simon Smith leading the deal. Paine told Legal Week: "With the economy slowing down and not getting any better, we will see more of these pre-packaged administrations that are used as a tool to save a business." Earlier this year Dentons advised on the administration of Robert Tchenguiz's Laurel Pub Group, which involved part of the group being bought by another of Tchenguiz's companies.
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