ILH Group enters voluntary administration

18-Dec-2014

By Krystine Lumanta

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ILH Group has announced it has appointed KordaMentha Restructuring as voluntary administrators of the company, a week after its shares were placed on a trading halt.

The process will be led by Michael Brereton and Cliff Rocke.

ILH provides legal services, wealth management and corporate advisory services.

According to an announcement made on the Australian Securities Exchange today, the appointment of Brereton and Rocke has been limited to ILH.

The subsidiaries of ILH will continue to operate on a business-as-usual basis.

The group’s subsidiaries include Rockwell Olivier Perth, Rockwell Olivier Sydney, Rockwell Olivier Pty Ltd, RO International Tax Services, Signet Lawyers, Civic Legal, Law Central Co, Capricorn Investment Partners and Rockwell Bates.

It is intended that these entities will be sold or recapitalised over the coming weeks.

Last Wednesday, ILH securities were placed on a trading halt.

On 1 December, managing director Graeme Fowler resigned from his position and was replaced by executive director David French.

French is also the managing director of the company’s wealth management division, Capricorn Investment Partners.

No one from ILH or KordaMentha was available for comment prior to publishing.

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