The removed former chief executive of City firm Ince has returned to the law after buying out a London firm from administration.
Adrian Biles completed the takeover of Child & Child at the start of this month through a pre-pack arrangement. The 40-strong Belgravia firm’s previous owner, Allium Law Limited, entered administration on 2 November and its affairs were placed in the hands of insolvency specialist Begbies Traynor.
It is understood that Biles has taken over as managing partner of Child & Child after using his own money to complete the deal, which was worth less than £1m.
Companies House records show that Biles was appointed as a director of Centurion Legal Holdings Limited last month, along with his brother Robert and father John. The company was incorporated in 2018 by Sandton Credit Solutions Master Fund IV, a business based in the Cayman Islands, and changed its name to Child & Child Law Limited two weeks ago.
Adrian Biles previously led Gordon Dadds as it went public in 2017 and oversaw the acquisition of Ince at the turn of 2019. But the expanded firm struggled during the pandemic and its aftermath, announcing plans in July to raise around £7m by issuing new shares to avoid ‘financial difficulties’.
Biles said at the time he would step down from his post as chief executive, but he was subsequently removed as director due to a possible ‘conflict of interest’. His father was also replaced as head of finance and administration.
In September, Ince said it has paid Adrian and John Biles £15,000 each to settle their claims for loss of office after entering into individual settlement agreements with them. It is understood that Adrian Biles still retains a shareholding in Ince.
The new management team has met with Child & Child staff and outlined their plans to expand the business, with a new recruitment drive and possible office move in the pipeline. A spokesperson for Adrian Biles said he saw himself as an entrepreneur who enjoys growing a business, and he is ‘excited’ to work with a London firm with an international outlook. The firm specialises in property and family law but the intention is to expand into commercial law.
Administrators for Allium Law, formerly known as Thomas Simon Limited, have yet to give details about the circumstances of the collapse of the business and what the fallout will be for creditors. Companies House records show that five partners had acquired the firm in 2019 from Ince Gordon Dadds Holdings after it entered administration.
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