Scottish law firm Harper Macleod plays role in historic £107m legal transaction

Law firm Harper Macleod has hailed its role in a piece of legal history after advising on the £107 million sale of historic manufacturer Low & Bonar.

The Harper Macleod corporate and court teams were led by partners Stephen Chan, pictured, and John McHugh.

The firm advised on the Scottish aspects of the sale of the textiles business to German firm Freudenberg SE. Low & Bonar is a Scottish founded and listed company with a manufacturing base in Dundee among its global operations.

The deal made legal history as, due to the courts being shut amid the coronavirus crisis, it was the first Scottish “scheme of arrangement” to be sanctioned by way of a conference call.

Harper Macleod’s corporate and court teams were led by partners Stephen Chan and John McHugh.

Chan said: “This was a complex transaction made more challenging by the Covid-19 pandemic and it was certainly a unique experience in trying to come up with solutions to overcome issues that would ordinarily not be a problem.

“I am also particularly grateful to the courts and Companies House for their help in adapting to the circumstances.”

Matthew Jones, company secretary for Low & Bonar, added: “I am grateful to Harper Macleod for the work they undertook in guiding Low & Bonar through the complexities of Scottish law during this lengthy transaction, made more complex by the difficulties resulting from Covid-19 and people working from home.”

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