Eleventh hour rescue deal failed to save Cobbetts

PARTNERS at law firm Cobbetts agreed to fund a £2.5m rescue deal in January, but it collapsed when they were asked for personal guarantees.

Details of the last ditch effort to save the firm were disclosed at a creditors' meeting in Manchester yesterday, where former partners and a representative of lender Wesleyan Bank also grilled managing partner Nick Carr, chairman Stephen Benson and finance director James Boyd.

The firm, which had an office in Leeds, filed for administration in January and was bought by rival DWF i... For the full story register now for free or login below...