Insolvency and restructuring firm CVR Global is strengthening its overseas presence after acquiring an office in Jersey.
The Moore Stephens Restructuring and Insolvency team is transferring to CVR Global Offshore Limited – a wholly owned subsidiary of CVR Global LLP and will be based at Wharf Street in St Helier.
Adrian Rabet is joining CVR Global as Director and will head up the firm’s Jersey office.
Rabet joins CVR Global with more than 30 years of insolvency and restructuring experience and is one of few fully-qualified insolvency practitioners in Jersey.
He’ll be responsible for running CVR’s operations in Jersey and handling liquidations, administrations and asset tracing.
The deal sees Jersey become CVR Global’s tenth office and third overseas office, with the other two in Gibraltar and the British Virgin Islands.
Adrian Hyde, Partner at CVR Global, leads the firm’s international practice and is working with Rabet on the Jersey venture.
Hyde said: “Overseas work is undoubtedly on the rise for us, so when the opportunity came about to take over the reigns from Moore Stephens and strengthen our roots in an offshore location, we were keen to take it.
“We believe there are a lot of similarities between the work we are receiving in the British Virgin Islands and the types of cases being handled in Jersey – particularly from Eastern Europe and further afield – so this is a move that will set us up for further growth in the future and fits perfectly with the recent arrival of Darren Reeds.
“Adrian Rabet is ideally placed to be leading our new office – he knows the jurisdiction well and will complement the offshore experience we now have in both Gibraltar and the British Virgin Islands.”
CVR Global was formed in August 2015 by the Partners of Chantrey Vellacott’s Business Recovery Division after they completed a management buy-out of the division, which was triggered by Chantrey Vellacott’s merger with Moore Stephens.
Since then the firm has grown to employ more than 90 staff.
Rabet added: “I’m looking forward to using all of my industry experience to help CVR Global to realise their ambitious growth plans.
“The firm has a solid track record of acting on large-scale fraud and money laundering cases, and having an established overseas network in locations where there are a lot of offshore corporate entities is key to ramping up the fight against these types of activities.”