Ashurst has advised Jamie's Italian Limited (JIL) and The Jamie Oliver Restaurant Group (JORG) on the buy back of its six franchise restaurant businesses in Australia from Keystone Group Holdings Pty Ltd (Keystone Group), which entered into administration and receivership in July 2016.

JIL and JORG entered into a sale agreement with Keystone Group acting by its receivers and managers and administrators to buy back the five Jamie's Italian and one Trattoria restaurants operating across Australia for an undisclosed sum.
 
The transaction was conditional on the satisfaction of a number of conditions precedent including:

    approval for the transfer of liquor licences in NSW, SA, WA, ACT and QLD;

    the consent to, and transfer of, property leases with six institutional landlords;

    transfer of employment contracts for the majority of existing staff working at the restaurants and certain head office functions, including approval from the Department of Immigration to the transfer of 23 457 visa's; and

    settlement of certain debts and release of security provided by existing creditors of Keystone Group.

The sale agreement was entered into on 31 December 2016 and completed on 26 April 2017.
 
Lead partner on the deal, James Marshall stated: "It has been a pleasure assisting the Jamie Oliver Group to buy back its franchisees caught up in the Keystone Group collapse. This step has resulted in the saving of many jobs and demonstrates the commitment that the Jamie Oliver Group has to its Australian business and brand".
 
James was assisted by senior associate Sarah Worrall, lawyer Adam Watterson and graduate Jacqueline King (RSSG); partner David McManus (Corporate); partner Jennie Mansfield, counsel Kathy Srdanovic and lawyer Amy Linton (Employment); partner Pauline Tan and lawyers Lee-Anne Yeo and David Wang (Hotels); partner Jason Cornwall Jones and lawyer Tammy Kamil (Real Estate); and migration consultant Jeff Fai (Immigration).