FRP Advisory
 | |
| LLP | |
| Industry | Insolvency, restructuring |
| Founders | Jeremy French, Geoff Rowley |
| Headquarters | London, United Kingdom |
Number of employees | 200 |
| Website |
www |
FRP Advisory is a business services firm based in the United Kingdom, providing restructuring and insolvency services and is one of the UK’s largest specialists in the area of corporate restructuring, recovery and insolvency.
The firm was formed in June 2010 by Jeremy French and Geoff Rowley, whose initials form the basis of the name (French Rowley Partners). The business has more than 200 staff including over 30 partners and operates from 12 locations across England and Scotland. The business is a limited liability partnership owned by its partners. FRP Advisory includes the trading divisions FRP Transition and First Financial.
FRP Advisory is a member of the Insolvency Practitioners Association (IPA), Association of Business Recovery Professionals (R3), ICAEW, ACCA, ACA and the Turnaround Management Association (TMA).
History
The firm was formed in June 2010 to undertake a management buyout of the Business Recovery Services division of Vantis plc.[1] FRP did not make a cash payment for the business, but took on £11 million of Vantis' debt.[2]
Stanford International Bank
Former Vantis executives Nigel Hamilton-Smith and Peter Wastell were the joint liquidators of Stanford International Bank Limited and Stanford Trust Company Limited,[3] a high-profile appointment which, at the time, was reported as contributing to the collapse of Vantis, although subsequent analysis of the fees due on the Stanford case reveal that this was hugely inaccurate. Hamilton-Smith and Wastell transferred to FRP Advisory and continued to act on the liquidation, and FRP Advisory fought to have them reinstated as liquidators of Stanford after a court decision to remove them,[4] but the Eastern Caribbean Court of Appeal confirmed their removal in May 2011, passing the case to Grant Thornton.[5]
References
- ↑ Vantis sale process months in the making, Accountancy Age, 8 Jul 2010
- ↑ FRP took on £11m of debt from Vantis, Accountancy Age, 15 September 2010. Retrieved 20 September 2010
- ↑ "Stanford International Bank". FRP Advisory. Retrieved 19 January 2012.
- ↑ Stanford liquidators fight to stay on after Vantis MBO, Accountancy Age, 30 Jun 2010
- ↑ "Stanford investors challenge court decision". Antigua Observer. 14 July 2011. Retrieved 3 January 2012.