Cobbetts called in for Fox Hayes wind-up

Cobbetts restructuring partner William Ballmann is advising David Wilson and Julian Pitt of Begbies Traynor on the administration of North East firm Fox Hayes.

As revealed on The (19 January), Fox ;Hayes ;went ;into administration on 16 January, one month after signing an agreement to sell its ­commercial and private client business to Lupton Fawcett. Ten partners, including managing partner Philip Drazen, 17 other fee-­earners and ;11 ;support ;staff ­transferred in the move.

Following that deal Fox Hayes was left with only a property transfer and ­conveyancing business.

Administrators were called in after a reduction in market activity saw Fox Hayes removed from a panel that supplied all its remortgaging work on 12 January.
Ballmann was unavailable for comment.

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