Dundas & Wilson has lost another two partners, with Glasgow-based head of insolvency and restructuring Claire Massie leaving for Pinsent Masons and real estate partner Shane Toal joining Osborne Clarke.
Insolvency specialist Massie will join Pinsent Masons as a partner, splitting her time between the firm’s Edinburgh and Glasgow offices. It is not yet know when Massie will join Pinsents.
Massie was head of Dundas & Wilson’s debt, restructuring and recovery practice. She was promoted to partner in 2007/08 with notable instructions including advising on the administration of Scottish airline Globespan, as well as on the collapse of Irish Property tycoon Patrick Hegarty’s investment business WG Mitchell.
In a statement, Pinsents financial institutions head Stephen Miles said: “Several businesses and funders are now entering a critical phase in the economic cycle and we expect to see further corporate restructuring work arising as a result. Claire is a well known heavy-hitter in this market and has strong relationships with a number of major financial institutions and intermediaries.”
Pinsents claims that Massie’s hire will mean it is the only firm with restructuring specialists in England and Wales, Scotland and Northern Ireland. Earlier this month the firm advised KPMG partners Mark Firmin, Brian Green and Howard Smith as administrators to Manchester firm Cobbetts, with partner Steven Cottee leading (6 February 2013).
Massie’s husband Colin Massie remains at Dundas as a corporate partner. In 2012, he unsuccessfully ran for managing partner (14 June 2012).
At Osborne Clarke Toal will join former Dundas partner John Pike, who re-emerged at the firm earlier this month, bringing with him a team of lawyers (1 February 2013). Dundas has lost a number of partners in London over the past month (7 February 2013), though management at Dundas has made statements saying that it is cutting partner numbers too in a bid to put the firm in better shape.
Speaking about the most recent departures, a spokesperson for Dundas said: “We can confirm that Claire Massie, a partner in our corporate recovery team, and Shane Toal, a partner in our real estate team, have resigned.
“Our corporate recovery team, established by the late Ian Cuthbertson, is the largest dedicated insolvency and restructuring practice in Scotland and is highly regarded across the UK. Our team of insolvency, restructuring, property, corporate and banking specialists, recognised for its strength and depth of experience, will continue to grow, working with and servicing our clients in the banking and financial sectors.
“Our real estate team in London continues to thrive. From a standing start 10 years ago, when we opened our London office at Bush House, our team last year completed over £1bn of investment deals. We remain committed to the growth of our London real estate practice.”