Adrian Rabet and Alan Roberts, of Begbies Traynor, were appointed as joint liquidators of the Group on Friday 24 October. As well as investigating the reasons for the business failure, the team have been working hard to preserve clients’ and creditors’ interests and maximise the opportunity for a return for them.
Part of that process has involved opening negotiations with a number of interested parties to secure the future of high profile events which were run by Campaign Management Associates (CMA), one of the Groups divisions.
They have now reached an agreement with the States of Jersey which will enable the Jersey Evening Post Home & Lifestyle Show to take place next week. The event is scheduled to take place from 6 November to 9 November and attract some 15,000 visitors.
Adrian Rabet, director of Begbies Traynor, commented: “We are delighted that we have been able to play a small part in securing the event for this year."
“Our focus must be on preserving creditors’ interests to ensure the fullest return from them from this unfortunate situation. However, as long as there is no cost to creditors we are willing to explore any and every option which will enable events previously operated by CMA to take place."
“For example the Guernsey Investment Fund Association Dinner which is scheduled for this Friday will be supported by the members of that Association."
“We are also working hard to secure similar results for events such as the Guernsey Achievement Awards in February 2009.”
Adrian Rabet also confirmed that all the companies within the Wallace Barnaby Associates Group – Wallace Barnaby Associates (Jersey) Ltd, White Knight Ltd, Campaign Management Associates Ltd (CMA) and WB Outsource Solutions Ltd are likely to be liquidated.
For further information please contact Adrian Rabet or Alan Roberts, Begbies Traynor, 01481 728447
David joined Begbies Traynor in 2004 originally working in one of their regional offices. In 2006 he moved to the London office to help set up a specialist team focusing on creditor side assignments in the guise of Independent Business Reviews and Independent Solvency Reviews. David has 18 years’ experience in the accounting profession and prior to joining Begbies Traynor has worked in a number of Top 50 London based partnerships.
As well as business reviews and independent solvency reviews, hands on turnaround assignments have also been one of David’s main focuses. This has generally been in support of high street clearing banks.