Failure to integrate: Administrators blame poor consolidation for Parabis collapse as unsecured creditors to lose almost £50m

Failure to integrate: Administrators blame poor consolidation for Parabis collapse as unsecured creditors to lose almost £50m

More than 2,500 unsecured creditors of the now defunct Parabis Group will lose almost £50m, a report from the company’s administrators reveals.

Continue reading “Failure to integrate: Administrators blame poor consolidation for Parabis collapse as unsecured creditors to lose almost £50m”

Parabis carved up in £50m pre-pack administration

Parabis carved up in £50m pre-pack administration

One of the first firms to benefit from sweeping liberalisation of the legal services market in 2012, Parabis Group has been placed into a pre-pack administration in a move expected to save ‘all but a handful’ of the 2,000 jobs at the company.

Peter Saville, Ben Browne and Anne O’Keefe of AlixPartners were appointed joint administrators over a number of entities within Parabis Group. Immediately following the appointment, a series of sales of the group’s legal services, rehabilitation and field services divisions took place.

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Manchester insurance firm takes on 43-strong team from Parabis as group unravels in administration

Manchester insurance firm takes on 43-strong team from Parabis as group unravels in administration

Manchester firm Horwich Farrelly has today (24 November) announced it has taken a 43-strong personal injury team from the Parabis Group, including seven partners, just one day after it emerged Parabis is to be broken up and sold in a £50m pre-pack administration deal. Continue reading “Manchester insurance firm takes on 43-strong team from Parabis as group unravels in administration”