Jarvis Hotels disposes of hotel portfolio
Clients Jarvis Hotels Limited
Jarvis Hotels Group, which owned a portfolio of hotels in the United Kingdom, appointed Jones Day to advise on the restructuring of the Group. The negotiations were lengthy and complicated, but a series of property disposals were achieved during 2011 as part of the restructuring.
At the point at which it became clear that it would not be possible to restructure the Group without an insolvency process, Jones Day advised the boards on complex issues such as wrongful trading and creditor payments.
Ultimately, the remaining hotels in the portfolio were sold through a pre-packaged administration to Jupiter Hotels Limited, a joint venture vehicle owned by West Register (the equity and distressed property holding vehicle of The Royal Bank of Scotland Plc) and private equity firm, Patron Capital.