Travers gets call on London Mining’s Ebola-related administration

Aim-listed company London Mining has become the latest casualty to be struck down by Ebola, as it calls in administrator PwC to wind up its operations.

The disease, which has been ravaging West Africa, was clearly the tipping-point for the mining giant, which has also been struggling to overcome crippling debt, collapsing iron ore prices, and a dispute with Glencore over payment.

PwC is now on the hunt for a buyer to snap up its Marampa mine, which employs 1,400 people in Sierra Leone. And a number of law firms are reportedly getting calls from eager, prospective bidders.

London Mining’s general counsel Rohit Boothalingham turned to his go-to corporate adviser Spencer Summerfield at Travers Smith for advice on the administration. Meanwhile, PwC turned to Clifford Chance, which also has an existing relationship the flagging company.

London Mining is the second big UK-headquartered company to fall flat over the past month, following the collapse of Phones 4U. On that transaction, Allen & Overy, Clifford Chance and CMS Cameron McKenna were appointed to try and pick up the pieces.

Also on

  • Parabis’ Tim Roberts tells The Lawyer about the firm’s strategy in the wake of the closure of its Bristol and Colchester offices
  • Allen & Overy and Pinsent Masons among firms advising on the £1bn sale of three of Heathrow’s airports to a consortium formed by Ferrovial and Macquarie
  • EDF turned to Clifford Chance to win approval for a European Commission (EC) scheme enabling the first new nuclear reactors to be built in Britain for 20 years
Featured Briefings
Banking – Shoosmiths: What are the consequences of cashing cheques in full and final settlement?
Litigation – Kemp Little: Paying the penalty — don’t forget to check liquidated damages clauses when negotiating a deal
Company – B P Collins: Entrepreneurs ‘facing financial barriers’
Insurance – Neil Hudgell Solicitors: All is not lost if you’re in an accident with an uninsured driver
Corporate – Kemp Little: New guidance on corporate governance published