UK restructuring and recovery professionals FRP Advisory and Friel Stafford, which is based in Ireland, have formed an alliance to offer a seamless cross-border service for complex corporate and personal insolvency cases.

The firms say they have recently been responding to requests from Irish financial institutions for advice in both Ireland and the UK and the need to appoint receivers in both jurisdictions relating to significant UK real estate-related investments made by Irish citizens, including commercial offices, industrial and retail property.

Jim Stafford, managing partner of Friel Stafford, said: 'Friel Stafford has worked closely with FRP Advisory in the past - formalising the arrangement will allow us both to respond to the increasing demand for our advisory services on multi jurisdiction assignments, particularly from banking clients who are looking for firms with track records in both the UK and Ireland.'

Geoff Rowley, senior partner at FRP Advisory, said: 'Both the UK and Ireland are still at the relatively early stages of restructuring many often complex corporate and personal investment vehicles that were set up long before the onset of the financial crisis and often underpinned by real estate assets including many based in the UK. Many of those structures underwent one or more re-financings, often involving two or more jurisdictions, making the task of restructuring all the more complex.'