Locke Lord tackles rugby club administration
Locke Lord has taken the lead role on the administration of rugby league club London Broncos, just days after the firm was appointed to advise the administrators of Blockbuster.
November 21, 2013 at 07:59 AM
2 minute read
Locke Lord has taken the lead role on the administration of rugby league club London Broncos, just days after the firm was appointed to advise the administrators of Blockbuster.
Yesterday (20 November), Locke Lord filed a notice to appoint administrators on behalf of client London Broncos.
The administration process means the club 10 has working days to work with the Rugby Football League and other parties to secure its future, during which time creditors will be prevented from taking any action.
Broncos' troubles have been exacerbated in recent weeks after the club failed to secure a venue for next season's home games. The club has also lost several key players since the 2013 season concluded.
David Grant, a restructuring partner, is leading a Locke Lord team that includes banking and finance partner Stephen Finch (pictured) and associates Marc Abrahams and James Helliwell.
The firm – which numbers Broncos owner David Hughes among its clients – will work closely with administrators Paul Appleton and David Rubin of insolvency firm David Rubin & Partners.
The mandate is the second high-profile instruction for Grant and his team in a fortnight, after Locke Lord was appointed to advise the administrators of DVD and video games rental company Blockbuster on 11 November.
Grant and Finch were part of a seven-partner team to join from legacy Salans at the end of 2011, as part of the Texan firm's launch in London. Previously head of corporate recovery at Halliwells, Grant was the failed firm's last equity partner in the City before he exited in 2010.
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