Slaughters to advise Jarvis on restructure

Slaughter and May

has scooped a huge instruction from Jarvis, having been brought in by the troubled infrastructure group earlier this year to advise on its strategic review.

Slaughters partner Mark Horton is currently advising Jarvis on its restructuring, but declined to comment.

Jarvis, which ran into financial difficulties earlier this month after it breached bank covenants, has relationships with a number of firms, including Addleshaw Goddard and Berwin Leighton Paisner. Eversheds, which also has a historical relationship with Jarvis, has been retained to advise the group’s management.

Linklaters partner Robert Eilliot has been brought in to advise Jarvis’s bankers, Barclays and the Royal Bank of Scotland, on whether they should continue to support the company. The banks also instructed Deloitte & Touche, which has since sent in a team of auditors to examine Jarvis’s books. Bingham McCutchen is advising Jarvis’s US noteholders.

Meanwhile, Lawrence Graham’s head of corporate recovery John Verrill is advising a significant number of local authorities on their exposure to Jarvis contracts. Verrill won the mandate thanks to fellow partner Simon Randall, the head of Lawrence Graham’s housing and local government department.

Randall, who acts for a number of local authorities, has also been an elected member of Bromley Council and the now abolished Greater London Council.

At the time of writing, it looked as if Jarvis would be able to secure a deal with its creditors, thus avoiding the insolvency route.