Hogan Lovells picks up key role on Parabis Group break up
Hogan Lovells advises administrators on the Parabis Group's pre-pack administration as Squire Patton Boggs also lands role
November 24, 2015 at 07:00 PM
3 minute read
Hogan Lovells has landed the central role on the break up of Parabis, advising the group's administrators following its collapse earlier this week.
Insurance law and loss adjusting firm Parabis Group went into administration on Monday and was split up and sold off in a pre-pack administration.
Restructuring group AlixPartners, which is handling the administration, is being advised by Hogan Lovells.
Hogan Lovells' team is being led by restructuring partner Deborah Gregory.
Parabis' defendant insurance businesses, Plexus and Greenwoods, were acquired by Plexus Law Limited – which is controlled by Parabis founders Andrew McDougall and Tim Roberts – as part of the break-up of the group.
Squire Patton Boggs is advising Plexus Law Limited on the purchase.
Its team includes corporate partner William Downs, restructuring and insolvency partner Cathryn Williams and corporate partner Tim Stead. Employment partner Janette Lucas and tax partner Timothy Jarvis are also advising.
Carpenters, which acquired some of claimant business Cogent Law, is being advised by London-based boutique O'Connors.
Its team is being led by partner Mark O'Connor, formerly DWF's head of corporate.
Lyons Davidson also acquired parts of Cogent Law as well as Saga Law, an alternative business structure offering, run in tandem with the insurance company Saga. Lyons Davidson is handling the legal aspects of the acquisition in-house.
Medical reports company Premex Services has acquired Parabis' Argent Rehabilitation arm out of the pre-pack administration.
Loss adjuster Davies Group has acquired Parabis' Argent Property Adjusters and Argent Liability Adjusters businesses. Osborne Clarke has been appointed by Davies to advise on the acquisition. Its team is being led by corporate partner Rob Wood.
Examworks Investigation Services has bought Argent's claims investigation business.
Parabis went into administration on Monday after months of financial turmoil.
Bolton-based personal injury firm Keoghs was in talks to buy Greenwoods and Plexus but the deal collapsed earlier this month.
As previously reported by Legal Week, a team of lawyers led by partner Malcolm Henke resigned prior to the administration and joined Horwich Farrelly on Tuesday. The team included 7 partners and 36 other lawyers and support staff.
Premex, Davies and Examworks did not respond to requests for comment.
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