Fairpoint Group plc: Disposal of Subsidiary

Fairpoint Group PLC

("Fairpoint" or "the Group")

Disposal of Subsidiary

 

 

 

Fairpoint Group plc (in administration) ('Group') announces the sale of the entire issued share capital of its wholly owned subsidiary, Allixium Limited ('Allixium') to Barkol Limited.

 

The sale has been overseen by Group's Joint Administrators, Lindsey Cooper, Gareth Harris and Alexander Kinninmonth of RSM Restructuring Advisory LLP.

 

The relevant business address of RSM Restructuring Advisory LLP is 3 Hardman Street, Manchester M3 3HF.

 

Allixium is a claims management company specialising in consumer claims. As at 31 December 2015, Allixium had gross assets of £740,239.

 

The consideration comprised a cash payment of £52,841.12, which was paid on completion of the disposal. The consideration will form part of the proceeds available for distribution by the Joint Administrators to the creditors of Group.

 

For enquiries please contact

 

RSM Restructuring Advisory LLP

Gemma Moorhouse  gemma.moorhouse@rsmuk.com  

    0113 285 5000