Stock exchange: RBG to delist
Listed lawful service RBG Holdings is to be relaxed after falling short to select a manager, it revealed to the London Stock Exchange today.
At completion of last month, RBG stated it had “regrettably” submitted a notification of objective to select managers following the departure of its contentious arm, Rosenblatt, to a brand-new law office established by owner Ian Rosenblatt.
It was readied to delist therefore.
It all adhered to a stand-off in between Mr Rosenblatt and the board of RBG after a period of financial instability, with dropping turn over and losses, that resulted in the team retrenching right into core lawful solutions.
RBG maintained London non-contentious method Memery Crystal, which was acquired in 2021 for £30m.
However, today it stated: “The board of RBG Holdings plc regrettably has not been able to appoint an administrator to the company or any of its subsidiaries.
“The directors have therefore resolved to proceed with an orderly winding down of the company and its subsidiaries in the coming days.
“Following positive engagement with the SRA [Solicitors Regulation Authority], in the intervening period, the directors will be proceeding with the expedited transfer of all remaining client files to other firms to comply with all SRA duties and responsibilities, and also facilitate a continuing and ongoing service for all clients.”
There have actually currently been several departures from Memery Crystal, most especially 9 companions and 16 various other legal representatives and team from the business, financing, conflict resolution and realty groups relocating to Fladgate.
