Ince Monaco office faces questions over pre-takeover spinoff deal
Questions raised over purported deal to allow office to break off from Gordon Dadds takeover
January 30, 2019 at 10:23 AM
2 minute read
Ince & Co's Monaco office is facing an uncertain future, amid a dispute over a deal said to have been agreed before the Gordon Dadds takeover to allow it to break away from the merged firm.
Gordon Dadds completed its acquisition of Ince's UK assets on 31 December last year, in a deal carried out via a pre-pack administration, but the details are still being thrashed out by administrators Quantuma.
The future of some of Ince's international offices is still to be resolved, with the firm's French bases in Paris, Marseille and Le Havre in talks to join Gide Loyrette Nouel.
Ince's Monaco office, however, operates separately to the three French bases, and one ex-Ince partner and another source with knowledge of the administration said that during the Gordon Dadds negotiations, a deal was struck to allow the Monaco office to remove itself from the takeover.
Quantuma is now looking into the validity of this deal to establish whether it is entitled to a share in the Monaco business for the purposes of the administration.
It is also yet to be decided if the office will continue as part of Ince Gordon Dadds, or whether it will now operate independently. Ince's other international bases have agreed network arrangements to continue trading as Ince & Co.
The Monaco base, which was launched in August 2011, practises English law as Ince & Co Monaco SARL. It is led by former Italy office head Ian Cranston, and focuses primarily on energy and shipping matters. Other partners in the office include superyachts partner Andrew Charlier and litigation partner Marco Crusafio.
Quantuma is in the process of settling Ince's balances with a view to paying its creditors, which include RBS and landlords Brookfield Properties and China Life.
Last week, Legal Week reported that administration had hit delays due to a dispute between Ince's UK and French branches over settling who owes what to the process, with as much as £2m contended.
Ince Monaco declined to comment.
Photo credit: Matthias Mullie
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
NOT FOR REPRINT
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
You Might Like
View AllDoctors and Scientists Lead Climate Protests at Each Magic Circle Firm
Trending Stories
Who Got The Work
Michael G. Bongiorno, Andrew Scott Dulberg and Elizabeth E. Driscoll from Wilmer Cutler Pickering Hale and Dorr have stepped in to represent Symbotic Inc., an A.I.-enabled technology platform that focuses on increasing supply chain efficiency, and other defendants in a pending shareholder derivative lawsuit. The case, filed Oct. 2 in Massachusetts District Court by the Brown Law Firm on behalf of Stephen Austen, accuses certain officers and directors of misleading investors in regard to Symbotic's potential for margin growth by failing to disclose that the company was not equipped to timely deploy its systems or manage expenses through project delays. The case, assigned to U.S. District Judge Nathaniel M. Gorton, is 1:24-cv-12522, Austen v. Cohen et al.
Who Got The Work
Edmund Polubinski and Marie Killmond of Davis Polk & Wardwell have entered appearances for data platform software development company MongoDB and other defendants in a pending shareholder derivative lawsuit. The action, filed Oct. 7 in New York Southern District Court by the Brown Law Firm, accuses the company's directors and/or officers of falsely expressing confidence in the company’s restructuring of its sales incentive plan and downplaying the severity of decreases in its upfront commitments. The case is 1:24-cv-07594, Roy v. Ittycheria et al.
Who Got The Work
Amy O. Bruchs and Kurt F. Ellison of Michael Best & Friedrich have entered appearances for Epic Systems Corp. in a pending employment discrimination lawsuit. The suit was filed Sept. 7 in Wisconsin Western District Court by Levine Eisberner LLC and Siri & Glimstad on behalf of a project manager who claims that he was wrongfully terminated after applying for a religious exemption to the defendant's COVID-19 vaccine mandate. The case, assigned to U.S. Magistrate Judge Anita Marie Boor, is 3:24-cv-00630, Secker, Nathan v. Epic Systems Corporation.
Who Got The Work
David X. Sullivan, Thomas J. Finn and Gregory A. Hall from McCarter & English have entered appearances for Sunrun Installation Services in a pending civil rights lawsuit. The complaint was filed Sept. 4 in Connecticut District Court by attorney Robert M. Berke on behalf of former employee George Edward Steins, who was arrested and charged with employing an unregistered home improvement salesperson. The complaint alleges that had Sunrun informed the Connecticut Department of Consumer Protection that the plaintiff's employment had ended in 2017 and that he no longer held Sunrun's home improvement contractor license, he would not have been hit with charges, which were dismissed in May 2024. The case, assigned to U.S. District Judge Jeffrey A. Meyer, is 3:24-cv-01423, Steins v. Sunrun, Inc. et al.
Who Got The Work
Greenberg Traurig shareholder Joshua L. Raskin has entered an appearance for boohoo.com UK Ltd. in a pending patent infringement lawsuit. The suit, filed Sept. 3 in Texas Eastern District Court by Rozier Hardt McDonough on behalf of Alto Dynamics, asserts five patents related to an online shopping platform. The case, assigned to U.S. District Judge Rodney Gilstrap, is 2:24-cv-00719, Alto Dynamics, LLC v. boohoo.com UK Limited.
Featured Firms
Law Offices of Gary Martin Hays & Associates, P.C.
(470) 294-1674
Law Offices of Mark E. Salomone
(857) 444-6468
Smith & Hassler
(713) 739-1250