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Baker Tilly offloads Tenon insolvency offices

3rd Dec 2013
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Baker Tilly has sold two of RSM Tenon’s insolvency practices to Quantuma Restructuring and three Scottish offices to FRP Advisory, following its acquisition of the mid-tier rival earlier this year.

Southampton-based Quantuma recently acquired the former Tenon offices in Marlow and Brighton from Baker Tilly, who bought the firm out of insolvency in a pre-pack deal over the summer.

Quantuma was set up by former Tenon partner Carl Jackson after he stepped down in September last year. The Marlow office will be led by Peter Hughes-Holland, Frank Wessely and Chris Newell - all of whom previously worked with Jackson at Tenon.

Jackson said: “When I launched Quantuma I wanted to provide an independent restructuring offering to businesses and individuals in the South. With the opening of the Marlow office we are able to expand our coverage in this region and continue to grow the business.

“The recruitment of Peter, Frank and Chris, along with the rest of the Marlow office represents a significant step forward in the firm's development and I very much look forward to working with the Marlow team again.”

Baker Tilly has also sold three offices of the Scottish insolvency and restructuring arm of Tenon to FRP Advisory.

Twenty-eight members of staff from Edinburgh, Inverness and Aberdeen will now come under the brand of the insolvency specialist. The Scottish team will continue to be headed up by Tom MacLennan and Iain Fraser, who join FRP Advisory as partners.

FRP Advisory was set up following the collapse of Vantis in 2010.

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By JC
04th Dec 2013 11:05

Incestuous ...

Pre pack then acquiring (cherry picking) to get elements back whilst dumping the problems

... and from people in the profession. Yes it's legal but ......

As well as potentially colluding with Bake Tilly over this ??

Don't forget that if the new owners were involved with Tenon as former partners / staff they were instrumental in the original failure - so now theyv are rewarded for their orginal failure ?

Perhaps when advertising the new company as 'Insolvency and Restructuring' - they could provide a Case Study of their own antics to demonstrate how it operates, and show they themselves are satisfied 'customers' - mmm .......

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