Archive for July, 2016

Rosenblatt act for CE and FD of Forterra Building Products Limited

29/07/2016
Earlier this year Rosenblatt acted for Stephen Harrison and Shatish Dasani, the Chief Executive and Finance Director, of the UK's second largest brickmaker, Forterra Building Products Limited.   The

Earlier this year Rosenblatt acted for Stephen Harrison and Shatish Dasani, the Chief Executive and Finance Director, of the UK’s second largest brickmaker, Forterra Building Products Limited.   The firm acted in connection with its acquisition by Lone Star Private Equity Fund from German company HeidelbergCement and the subsequent IPO of the company.

 

 

High Court ruled that an order for costs could be revised to include provision for a payment on account.

28/07/2016
On 21 June 2016, a Judge, in handing down judgment at the hearing, ordered the claimant to pay the defendant’s costs.  When counsel for both parties were subsequently seeking to agree the terms of

On 21 June 2016, a Judge, in handing down judgment at the hearing, ordered the claimant to pay the defendant’s costs.  When counsel for both parties were subsequently seeking to agree the terms of the order, counsel for the defendant sought to include provision for payment on account.  The claimant objected to  such provision being included in the order on the basis that the request for the inclusion of any such provision should have been made at the hearing when the order was made.  There were other minor issues considered and dismissed by the Judge but, as he stated in his judgment: “The substantial point, as it seems to me, is whether a request for payment on account can only be made at the hearing itself.  If so, then, once the parties come to draw up the order for the court’s approval, it is too late to argue for its inclusion.”

However, the judge went on to clarify that, while the general rule is that an order is effective from the moment it is made by the court, the court still has the power to alter its judgment or order at any time until it is entered and perfected by sealing, and that such power is not limited to exceptional circumstances.  The judge went on to order a payment to be made on account within 14 days.

This ruling demonstrates the court exercising its powers in a measured and pragmatic way in that, if it is appropriate for provision to be made in an order for a party to make a payment on account, it would conversely be inappropriate to prevent such a provision being included simply because its inclusion was not requested at the hearing.  It is often the case that subsequent to a hearing, counsel will agree between themselves certain tweaks to an order, particularly on points in relation to costs, before it is sealed or revert to the judge for clarification on certain points and taking a common sense approach to this can keep costs down.  It is also a reminder that parties should not resign themselves to being unable to have appropriate provisions included in an order even if requests are not made at a hearing.  If after the hearing but before the order is sealed, requests are made and the court considers the requested provisions can and should be included, such requests may be accommodated.

Aliston Albert Ashman v Clyde Caulson Thomas [2016] EWHC 1810 (Ch)

Rosenblatt Solicitors Corporate Team Enjoys Record Period M&A and Private Equity Deals

25/07/2016
On 25 July 2016: Rosenblatt Solicitors, the City law firm, announced that its Corporate Team has enjoyed a record period of M&A and private equity transactions. The team, led by partner an

On 25 July 2016: Rosenblatt Solicitors, the City law firm, announced that its Corporate Team has enjoyed a record period of M&A and private equity transactions.


The team, led by partner and Head of Corporate Tom Ferns, has worked on a significant number of private equity transactions, including:

    • acting for the management team on the £414m sale of Ibstock Brick to Bain Capital and its subsequent IPO on the London Stock Exchange with a market capitalisation of £770.5 million
    • the sale of Forterra Building Products to Lone Star as part of a $1.4 billion transaction and its subsequent IPO valuing the business at £360 million
    • the sale of Ingenious Asset Management Holdings Limited which managed £1.8 billion of investments to Tilney Bestinvest backed by Permira


Highlights of the team’s other corporate transactions include:

      • the sale of Seren, a digital consultancy based in Silicon Roundabout, to Ernst & Young LLP – the first transaction of its kind for EY’s UK Advisory practice
      • the acquisition of the Compass London Brokers and Compass London Markets businesses from Arthur J Gallagher
      • the takeover by scheme of arrangement of AIM listed Energy Technique by Volution plc
      • the sale of Portland TV on behalf of Richard Desmond’s Northern & Shell.


Commenting Tom Ferns, Head of Corporate at Rosenblatt Solicitors, said:

“The team at Rosenblatt Solicitors has enjoyed a very busy and successful period; the initial signs post the decision to Brexit are that this trend is continuing.  Whilst the long term effects of Brexit remain to be seen, we have been encouraged by the number of new mandates we have secured. Rosenblatt has a long history of working with overseas companies, those in fintech, payments, media, property etc and for many in sectors such as these, it seems that it is business as usual.”

During the period, Rosenblatt Solicitors also announced the promotions of Gerard Dempsey and Martin Montgomery to Partner in its Corporate department.  Gerard joined Rosenblatt in 2007 and Martin in 2010. Since joining Rosenblatt, Gerard and Martin have provided commercial and pragmatic advice to public and private companies, senior management and board members, entrepreneurs and individuals on a wide range of UK and international transactions as well as providing a full range of corporate and commercial legal advice.

Privacy & Data Protection UK 2016: Conference

18/07/2016
“Privacy in the wake of BREXIT: GDPR, The Cloud, Social Networking and Information Security” Wednesday, 28 September 2016 HYATT REGENCY LONDON – THE CHURCHILL 30 Portman Square, London, W1H

“Privacy in the wake of BREXIT: GDPR, The Cloud, Social Networking and Information Security”

Wednesday, 28 September 2016 HYATT REGENCY LONDON – THE CHURCHILL 30 Portman Square, London, W1H 7BH, UK

Speaker: Andrea London, Partner, Head of Employment Department, Rosenblatt

Part Two: Data Protection And The Workplace

11:25 -11:45

SARs in the current climate

– A primer on the basics

– Some practical issues on SARs and how to address them

– A changing legal landscape: the current climate and the impact on SARs

To view the full agenda, please click here

To reserve your delegate place, please click here

 

Rosenblatt acted for Compass Broker Holdings Limited

04/07/2016 | Jon Lovitt
Rosenblatt acted for Compass Broker Holdings Limited, a new company set-up by the existing managers of the Compass Network Business in connection with the acquisition by Compass Broker Holdings of th

Rosenblatt acted for Compass Broker Holdings Limited, a new company set-up by the existing managers of the Compass Network Business in connection with the acquisition by Compass Broker Holdings of the Compass London Markets Business and Compass Broker Networks Business from A J Gallagher Insurance Brokers.

Compass is a UK insurance broker which includes a Lloyds wholesale brokerage, a retail insurance brokerage and a network membership business.

John Lincoln, managing partner of Compass, stated: “Today marks the beginning of a new and exciting chapter in Compass’ story of growth as we look forward to continuing our strong support of the UK’s broker community as an independent business. Our focus and commitment remains the same – to deliver what our expanding community of members needs to achieve their own growth ambitions, through the same high quality, dedicated and professional team of seasoned network specialists, as well as providing them with access to our London market placement operation for difficult or complex risks.”

The Rosenblatt team was led by Jon Lovitt, Corporate Partner, who was assisted by Robert Black, Corporate Assistant, Andrea London, Employment Partner and Selina Clifford, Commercial Assistant.

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