Six months ago Richard Albarran was in New York to ring the bell on the NASDAQ listing of Hall Chadwick Acquisition Corp, a vehicle purportedly established to invest in the US-led bid to wrest from the Chinese communists control of the strategic minerals supply chain.
Last week Albarran and Hall Chadwick majority shareholder Drew Townsend brought into being several new entities that suggest that while the pair have broad aspirations for their money, they still won’t ignore the stench of decay, even when it’s wafting from as far away as the benighted Kingdom, formerly known as Great Britain.
On May 15 Hall Chadwick Capital Limited was registered by the Registrar of Companies for England and Wales.
Albarran and Townsend are listed as its directors and its shareholder is L.&W. Facilities, a company registered here and controlled by Albarran with 40 per cent of the shares, Townsend with 40 per cent and tax agent Luigino Malacco with 20 per cent.
On the same day Hall Chadwick UK Holdings Limited was also registered. As well as Albarran and Townsend this entity includes UK restructuring practitioner Deviesh Raikundalia as a third director.
The shareholding is split this way. 1000 A class shares are held by L.&W. Facilities. It’s also the “Relevant Legal Entity” (RLE) which means L.&W. Facilities holds 75 per cent or more of the shares in the company; 75 per cent or more of the voting rights in the company and has the right to appoint or remove a majority of the board of directors of the company. Raikundalia holds the sole B class share.
Then on May 18 Hall Chadwick UK Corporate Limited was registered. Albarran, Townsend and Raikundalia are the directors and Hall Chadwick UK Holdings Limited is the shareholder and RLE.
Given the UK’s current economic malaise it makes perfect sense for a firm with global ambitions to descend upon the economic corpse successive British governments have prepared for plundering.
The only question is whether Hall Chadwick’s new man on the ground will get a decent drink out of his deal with the devils from down under.
Be the first to comment on "Hall Chadwick launches UK practice"