Fairpoint Group plc: Appointment of Administrator over Direct Subsidiary

Fairpoint Group PLC

("Fairpoint" or "the Group")

Appointment of Administrator over Direct Subsidiary

Fairpoint Group plc (in administration) ('Group') announces that Lindsey Cooper, Christopher Ratten and Alexander Kinninmonth of RSM Restructuring Advisory LLP have been appointed as Joint Administrators over its direct subsidiary, Debt Free Direct Limited ('DFD').

The relevant business address of RSM Restructuring Advisory LLP is 3 Hardman Street, Manchester M3 3HF.

The business and certain assets of DFD have been sold to Aperture Debt Solutions LLP.

DFD is an ICAEW regulated insolvency practice specialising in consumer Individual Voluntary Arrangements. As at 31 December 2015, DFD had gross assets of £37,474,690.

The consideration comprised a cash payment of £1,344,792, which was paid on completion of the disposal. The consideration will form part of the proceeds available for distribution by the Joint Administrators to the creditors of DFD.

For enquiries please contact

RSM Restructuring Advisory LLP

Gemma Moorhouse  [email protected]  

    0113 285 5000