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MFI IP Asset sale - Insolvency - Case study


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MFI IP Asset sale - Insolvency - Case study

  1. 1. Metis Partners Case Study Client: MFI Group Limited (in Administration) Subject: Insolvency - IP Asset Sale (Q2 2010) About MFI MFI Group Limited (‘MFI’) was one of the UK’s leading and most widely recognised suppliers of kitchen and bedroom furniture. The Company went into administration in 2008. The Insolvency In early 2010, the joint administrators of MFI, Philip Duffy, Geoffrey Bouchier and Paul Clark of MCR, asked Metis Partners to carry out a sale of MFI’s Intellectual Property (‘IP’) assets in order to recover value on behalf of the Company’s creditors. Our Approach The Metis Partners team began by identifying and assessing the IP assets linked to MFI, followed by the full marketing and sale of the assets to targeted potential buyers. The Outcome Within 6 weeks of being appointed Metis Partners had concluded the deal after securing an offer for £250k for the IP assets linked to MFI. The Benefits of Instructing Metis Partners  The whole process was completed quickly and efficiently with our structured and accountable marketing process.  MFI’s IP assets were marketed directly to our international network of contacts including major investors of IP assets as well as carefully selected contacts within the retail industry who may have had also an interest in purchasing the assets  Metis Partners coordinated the entire sales process including communications with third parties, the joint administrators’ lawyers and diligence enquiries.  Built on sales experience, Metis Partners created competitive tension which drove up the final offer.  Ultimately Metis Partners secured a significant return to creditors (a return beyond initial expectations), by building additional value into the IP assets available for sale. Testimonial “Metis Partners’ experience, structured sale process and professional approach ensured that IP asset value was significantly enhanced, ensuring that full market value was achieved.” Philip Duffy, MCR“Almost £5m recovered for Insolvency Practitioners from sale of IP assets” © 2011 Metis Partners