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Lovells has been drafted in by liquidator Deloitte to advise on the administration of buy-to-let hotel group GuestInvest.
The company, which allowed private individuals or businesses to buy a luxury hotel room and earn money from the rental income, went into administration at the start of the month.
The Lovells team, which is advising Deloitte administrators Nick Edwards and Nick Dargan, is being led by restructuring ;partner Debbie Gregory and real estate partner Daniel Norris.
The firm has a long history with Deloitte, most famously advising it on the administration of collapsed bank BCCI in the 1990s.
GuestInvest, which was established in 2003 and owns a number of hotels across London, received advice in the run-up to its administration ;from Clifford Chance.
The ;firm ;had ;been GuestInvest’s regular adviser since its inception and two years ago advised the company on a cash injection from Bank of Scotland. Real estate partner Mark Payne led the relationship.
GuestInvest founder Johnny ;Sandelson ;is thought to be looking to secure funding to buy the company back, while a number of other parties are also believed to have shown an interest.
Lovells declined to comment on its role for Deloitte.