Published: 12th October 2018
Our London team were appointed Administrators to the UK operation of this US-based, respected market leader in back-office print solutions (in Chapter 11) with Group turnover of $180m. Referred by BGN member, Pluta (Interim Insolvency Trustee of the German intermediate holdco), we supported European sales/service operations, provided accounting/IT support across EMEA and disposed of most of the European business and assets as a going concern, which also enhanced UK debtor recoveries and overseas stock sales at cost plus. Recoveries continue: preferential creditors will be fully paid and unsecured creditors will receive a dividend. Sale of the service business is complete, reducing potential claims from ‘pre-paid’ customers.
Mark is an experienced insolvency practitioner, with over twenty years experience. Originally a founding partner in Taylor Gotham & Fry, a specialist boutique practice in the corporate recovery sector, he later sold this practice in 2005 to Begbies Traynor. Mark is now the Regional Managing Partner for the company, responsible for London and the South East. During his time at Begbies Traynor he has developed a separate but integrated restructuring and banking practice; this part of the business has worked in both debtor and creditor led turnaround situations. He also holds several directorships of trading companies outside the financial sector, which assists his awareness and understanding of the issues found by business managers and owners.
Mark is a Counsel Member of the Insolvency Practioners Association and a member of their Membership and Authorisation Committee, as well as the Education and Training Committee. He has also served as a member of the General Technical Committee for R3, the Association of Business Recovery Professionals.