Corporate support on purchase of distressed asset
Our real estate litigation team advised the potential purchaser and its bankers Rothschild on negotiations to purchase businesses from administrators/receivers where there were major concerns about the validity of charges over properties and the ability of the administrators/receivers to sell those real estate assets.
We obtained urgent advice from Katherine Holland QC confirming our concerns that the charges were potentially invalid and would not overreach subsequent beneficial interests that might have been created. Our role also included advising on the potential to avoid the impact of these deficiencies in conjunction with Penningtons’ corporate and real estate teams.
The issues were technically challenging as well as commercially sensitive.
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