Linklaters has been named as adviser to Deloitte on the administration of luxury goods maker Waterford Wedgwood.
Insolvency ;partner Rebecca Jarvis is leading the team advising Waterford Wedgwood’s UK administrators Neville Kahn, Angus Martin, Nick Dargan and Dominic Wong. Irish receiver David Carson is being advised by A&L Goodbody partner Mark Traynor.
Linklaters has close ties to Deloitte’s Kahn, recently advising him as receiver to the retail arm of high-street store Woolworths. Linklaters partners David Ereira and Richard Bussell advised on that deal (TheLawyer.com, 27 November 2008).
In the run-up to its administration, Waterford Wedgwood, which has businesses in Ireland and the UK, was advised by Slaughter and May and Ireland’s William Fry. At Slaughters partners Ian Hodgson, Andrew Jolly and Sanjev Warna-kula-suriya led, while William Fry partner Brendan Cahill advised the Irish businesses.
Both firms have longstanding relationships with Waterford Wedgwood and last September advised the company on an equity issue. With three of Waterford Wedgwood’s 13 UK businesses not in administration it is likely that Slaughters will receive further instructions from the company.
US private equity house KPS Capital Partners has signed a letter of intent to buy the major assets of Wedgwood. KPS is being advised by Kirkland & Ellis London partners Lyndon Norley and Graham White and New York partner Armand Della Monica.