Collas Crill advised fund manager, Phoenix Asset Management Partners, in connection with the investment of up to £19.45million by Phoenix UK Fund Ltd in stamp and collectibles business, Stanley Gibbons Group Plc.
The transaction involved the restructuring of external debt and the acquisition of certain rights of the Group in intercompany indebtedness of Stanley Gibbons (Guernsey) Limited, which went into administration towards the end of 2017.
Phoenix, which now owns a 58% (approx.) stake in AIM-listed Stanley Gibbons Group, also has a substantial holding in iconic toy maker, Hornby, another AIM-listed company.
The Collas Crill team was led by Sean Cheong (banking partner) and Michael Adkins (insolvency and restructuring partner) in Guernsey, assisted by Fiona Wilson and Gareth Morgan, senior associates in Jersey and Guernsey, respectively.
Sean said: "Stanley Gibbons is practically a household name in the Channel Islands, so this is an important deal locally. We were pleased to be able to work with Phoenix's onshore Counsel, Taylor Wessing, to deliver the outcome for the client within challenging deadlines."