Alpari (UK) Limited (in special administration) completes sale of Intellectual Property assets to Andrey Dashin


Joint Special Administrators of Alpari (UK) can confirm that an agreement has been reached for the sale of the Company's Intellectual Property assets to Andrey Dashin, one of the shareholders of the Company

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Richard Heis, Samantha Bewick and Mark Firmin, Joint Special Administrators of Alpari (UK) Limited (in special administration) (the "Company") can confirm that an agreement has been reached for the sale of the Company's Intellectual Property assets (including the Alpari trademark) to Andrey Dashin, one of the shareholders of the Company.

It is a condition of the sale that the Company and the Joint Special Administrators shall be entitled to continue to use the Alpari domain names for the purposes of the special administration only and no change of legal name is expected to occur in connection with the Company.

Richard Heis, Joint Special Administrator of the Company and partner at KPMG, commented: “The Joint Special Administrators have, since their appointment on 19 January 2015, focussed their efforts on the disposal of the whole or parts of the Company's business, with a view to maximising recoveries for the Company's creditors and saving as many jobs as possible.

“Whilst it has not been possible to effect a sale of the entire business of the Company, we are delighted to have completed the disposal of the Intellectual Property assets, which will recover value for the Company's creditors. We continue to speak to buyers about sales of other parts of the company’s business.

“Regrettably, as a result of the lack of a buyer in the entirety of the Company's business, 114 employees have now left the Company due to redundancies and resignations.  We continue to employ 52 employees who will assist in the special administration.”

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KPMG LLP, a UK limited liability partnership, operates from 22 offices across the UK with approximately 12,000 partners and staff.  The UK firm recorded a turnover of £1.9 billion in the year ended September 2014. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. It operates in 155 countries and has 162,000 professionals working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity.  Each KPMG firm is a legally distinct and separate entity and describes itself as such.

This article represents the views of the author only, and does not necessarily represent the views or professional advice of KPMG in the UK.

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