Follows war of words
Ian Rosenblatt has regained ownership of his former firm, Rosenblatt, confirming the breakup of RBG Holdings’s law firm portfolio.
The 40-person team will move across to Ian Rosenblatt’s new legal entity, SRA-regulated Rosenblatt Law Ltd (RLL), which will trade simply as ‘Rosenblatt’. The dispute resolution specialists will be chaired by former RPC managing partner Jonathan Watmough, with a number of Rosenblatt veterans taking top posts on the newly formed Board. RBG retains control of its other law firm, Memery Crystal.
This latest development comes following a tumultuous few weeks for Ian Rosenblatt and RBG holdings after tensions erupted into a public war or words. RBG, the listed legal business that previously owned Rosenblatt (the firm), accused its founder and largest shareholder of being “verbally abusive” towards a lender and breaching agreements with the group. Rosenblatt (the person) denied the allegations, labelling them “substantially untrue and defamatory”, before accusing RBG of being insolvent.
The plot took another turn when Ian Rosenblatt and RLL entered into exclusive negotiations with RBG to purchase Rosenblatt from the struggling group, with the period extended late last week.
Earlier this week RBG suspended public trading after its share price took another hit, closing at 0.89p, a dramatic fall from it’s all time high of 160p, and well off it’s 2024 summer peak of 13p. It stated that it was “unlikely to be able to secure the funding that it requires in a timely manner to secure the Company’s future” following the collapse of negotiations around the sale of RBG’s other law firm, Memery Crystal. This comment came despite the “ongoing” talks surrounding Rosenblatt.
Commenting on his reacquisition, Ian Rosenblatt, founder and senior partner of the new entity, said:
“I founded Rosenblatt in 1989 — it has been my life’s work. Today my firm regained its independence – the same name, the same team, and the same drive but without the previous distractions of being owned by a listed company.”
“I am so proud of all my colleagues and the exceptional work we do for our valued clients and would like to thank them all for their loyalty and support,” he continued. “We are all immensely excited about the future.”
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