Niche City firm Starr & Partners has won a role on the administration of property group Connaught, advising building company Morgan Sindall on its acquisition of the group’s assets.
Starr & Partners consultant Robin Tutty led the advice, winning the instruction through a longstanding relationship with Morgan Sindall executive chairman John Morgan.
Tutty joined the four-partner boutique earlier this year after retiring from the partnership at Field Fisher Waterhouse, where he had been head of restructuring. He continues to act as a consultant at Field Fisher as well as at Starr & Partners.
Connaught went into administration earlier this week, with Jones Day advising KPMG partner Richard Heis as administrator . Head of capital markets Giles Elliott and head London business restructuring and reorganisation Adam Plainer led the advice (8 September 2010). They also advised Connaught in the run up to administration.
Connaught was put into administration after its lenders declined to provide the funding required to restructure the business. Morgan Sindall has acquired the bulk of Connaught’s social housing maintenance operations for £28m, saving the jobs of around 2,500 people across the UK.
Denton Wilde Sapte partners Graham Paine and Nigel Barnett advised the bank lenders while Bingham McCutchen partners Barry Russell and Tom Bannister advised the noteholders.