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Prominent London disputes lawyer Ian Rosenblatt has announced the rebirth of his eponymous firm as an independent practice as former parent company RBG Holdings prepares to enter into administration.
Some 40 lawyers, trainees and support staff have left RBG-owned Rosenblatt Solicitors to join the newly established vehicle Rosenblatt Law Ltd.
The move effectively secures the future of the Rosenblatt branded part of RBG’s business although it would appear the AIM-listed company’s other legal arm, Memery Crystal, is splintering.
A Memery Crystal real estate team comprising five directors has joined London firm Lawrence Stephens, Keystone Law is set to absorb the commercial, IP and technology team, led by Carl Rohsler, while Fladgate is also reportedly preparing to take on board lawyers.
Commenting on the relaunch of his firm, Ian Rosenblatt 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.”
Rosenblatt in its new guise has unveiled an experienced leadership team made up of former RPC managing partner Jonathan Watmough, who has been appointed chairman, and chief executive Adil Taha, a private equity and turnaround executive who is a legal services specialist.
Former Rosenblatt partners Tania MacLeod and Anthony Field have joined the board, with MacLeod becoming head of disputes.
Watmough said: “It’s been a pleasure and a privilege to support Ian and his incredible team in regaining their independence. They are a very high-quality, tight-knit, ambitious and well-led group in precisely the right parts of the City litigation and arbitration markets. Liberated from the shackles of corporate ownership, they will flourish and I’m looking forward to supporting them on that journey.”
Rosenblatt hit the headlines in 2018 when it became one of the first law firms to list. The holding company went on to buy Memery Crystal in 2021 for £30m.
However, Ian Rosenblatt’s relationship with RBG became fraught last year against the background of a declining share price, financial instability and strategic missteps that had prompted it to offload its litigation funding arm LionFish in 2023.
A widely reported truce was reached in mid-January when RBG revealed it was exploring the sale of its Rosenblatt branded business to Rosenblatt Law as one of a number of options to secure its long-term future.
On 28 January, however, it requested the suspension of its shares after conceding that it was “unlikely to be able to secure the funding that it requires in a timely manner to secure the company’s future”.
Today the AIM-listed company announced that it had filed “a notice of intention to appoint administrators to the company”.
Next week attention is likely to turn to the fate of the remaining Memery Crystal lawyers. James Knight, founder and CEO of Keystone Law, said: “The circumstances relating to the demise of Memery Crystal are very fast-moving and complex. We are working hard with a number of partners and more junior solicitors to ensure client interests are not prejudiced as and when the firm stops trading.
“For now, I can confirm that Memery Crystal’s commercial, IP and technology team, led by Carl Rohsler, will be joining Keystone Law in the very near future. We will be delighted to formally introduce Carl’s team together with other new joiners from Memery Crystal in due course.”
The team joining Lawrence Stephens is led by John Aynsley, previously group head of real estate at Memery Crystal. The firm’s managing director, Steven Bernstein, said: “We are delighted to welcome John and his team to the Lawrence Stephens family. Their arrival coincides with a period of exciting growth for the firm and will provide both bench strength to our existing team as well as extending the range of expertise and experience we can now offer to both existing clients and new prospects.”
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