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We helped a financial services company with its acquisition of the peer-to-peer currency exchange platform business and associated assets of another company (in administration) via a pre-packaged administration sale.

We advised the client on the terms of the asset purchase agreement relating to the sale of the business and assets, reviewing the initial draft agreement prepared by the administrators’ solicitors and negotiating this with them. We also advised on the specialist features of the transaction, including the employment and data protection aspects.

As is customary with the sale by companies in administration of business and asset interests, we delivered the advice in digestible form and as a matter of urgency, and successfully concluded the transaction at rapid speed. The purchase price paid also reflected the sizeable risk borne by the buyer in acquiring assets from a company in administration.