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Restructuring and Insolvency experts finalise sale of Jamie’s Italian venues

03 May 2017 | Australia, Asia Pacific
Deals and cases

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Jamie’s Italian venues across Australia have been sold to the Jamie Oliver Restaurant Group, with Herbert Smith Freehills advising Morgan Kelly and Ryan Eagle of Ferrier Hodgson (the receivers and managers of the Keystone Group) on the sale process.

The transaction involves the sale of six Jamie’s Italian restaurants, located in Sydney, Parramatta, Canberra, Brisbane, Adelaide and Perth. Following the collapse of the Keystone Group, Jamie’s Italian International Limited has now taken control of these venues.

Completion of the Jamie’s Italian sale culminates the complex receivership of Keystone Group. It follows successful transactions with Dixon Group and a number of other purchasers, under which an additional 10 renowned Australian restaurants and bars have been transferred to new owners.

Herbert Smith Freehills’ Restructuring, Turnaround and Insolvency team has advised the receivers and managers throughout the receivership, led by partner Paul Apathy, together with Mark Currell (Partner, Corporate), Bruce Ramsay (Partner, Disputes), and supported by Rowena White (Senior Associate, Restructuring, Turnaround and Insolvency), Merryn Quayle (Senior Associate, Disputes), Phillip Rattenbury (Real Estate), Amalia Stone (Special Counsel, Corporate), and solicitors Tiffany Cheung and Marcus Berghouse.

Herbert Smith Freehills is pleased to have finalised the resolution of the Keystone Group. Partner Paul Apathy said: “We have supported Ferrier Hodgson through a challenging receivership which delivered successful sales of virtually the entire Keystone Group to a number of purchasers. This has resulted in preservation of these businesses and ongoing employment for Keystone Group employees.”

Ashurst acted for Jamie’s Italian International Limited. Allens acted for the Dixon Group, and K&L Gates represented the Administrators of the Keystone Group.

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For further information on this news article, please contact:

Kelly Murray, External Communications Lead

Sydney
Tel: 
+61 2 9322 4472