The carve-up of beleaguered listed professional services group RBG Holdings has begun, with 40 people staff transferring to a newly formed practice.
Rosenblatt Law Ltd today announced it had acquired part of RBG and appointed a new management team. The firm will trade as Rosenblatt and specialises in handling complex disputes, international arbitration and strategic services.
RBG Holdings today confirmed its intention to appoint administrators.There was no word on what is happening to Memery Crystal, a London law firm that was also part of the group but was not included in the Rosenblatt deal, amid reports of mass defections. Full-service law firm Lawrence Stephens today announced the appointment of five directors to its Commercial Real Estate department, all from Memery Crystal.
RBG said earlier this month it was preparing to close after talks with one potential buyer broke down. Trading in RBG on the London Stock Exchange has been suspended and it is likely that the company will delist, although there has been no confirmation of this.
Initially the only public statement from RBG was to say that non-executive director Patsy Baker had resigned from the board. She had said she intended to step down last September but agreed to remain on the board while the company was undertaking a refinancing exercise.
But on Friday lunchtime, RBG announced: 'Further to the announcement on 28 January 2025, the Board of RBG Holdings plc regrettably has resolved to and subsequently has filed today a notice of intention to appoint administrators to the Company.
'Notices of intention to appoint administrators to RBG Legal Services Limited and RBL Law Limited (two of the Company's subsidiaries) have also been filed.'
The SRA-regulated Rosenblatt firm has appointed Jonathan Watmough as chair and Adil Taha as chief executive. Watmough was managing partner with City firm RPC for 10 years and oversaw its transformation into an international practice with more than £100m in revenue. Taha has had leadership roles in law firms, private equity, accountancy and investment banks, with a specific focus on turnaround and expansion.
Two former Rosenblatt partners have joined the board: Tania MacLeod will be head of dispute resolution and Anthony Field becomes a partner in that department.
Ian Rosenblatt OBE, founder and senior partner, said: ‘I founded Rosenblatt in 1989 - it has been my life’s work. Today my firm regained its independence - the same name, the same team, and the same drive but without the previous distractions of being owned by a listed company.
‘I am so proud of all my colleagues and the exceptional work we do for our valued clients and would like to thank them all for their loyalty and support. We are all immensely excited about the future.’
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