‘Tesco Law’ Enables Establishment of Multinational Corporate Affiliation
New York, NY (February 26, 2014) – The partners at BP Law Group, LLP, a national leader in default services, announced today that they have entered into a merchant banking agreement with Pelican Point Capital for the funding of the Firm’s service expansion including their London office. Through this agreement, BP Law London will be affiliated with BP Law US through a multinational partnership based upon the Alternative Business Structure (ABS) under the Solicitors Regulatory Authority’s 2009 “Tesco Law.” This capital and funding agreement affords BP Law Group, LLP capability to further its reach in serving the distressed asset backed market.
Initial managing members of BP Law London will be Rudy Ceres, a solicitor in England and Wales, and Matthew Browndorf, a Registered Foreign Lawyer in England and Wales, both based in the London and New York offices. Pelican Point Capital has designated principals Shad Quraishi, Co-CEO and Co-Founder, Ike Suri, Co-CEO and Co-Founder, and Adam Chaudhary, Managing Director and Partner, to represent them in the ABS and will designate one member to sit on the Board of Directors of BP Law London. All members have significant expertise and industry relationships that are positioned to serve clients and provide solutions to the residential market opportunities.
“Entering into this agreement with Pelican Point Capital will help us to further our goal of providing superior legal services on a global scale,” said Browndorf. “We anticipate further client successes as move forward in alignment with Pelican.”
BP Law Group, LLP, known nationally for their impeccable and successful law practices, built its platform to tailor support to the unique needs of its many clients, including owners of portfolios of non-performing loans and in connection with mergers and acquisitions situations, as they became industry leaders in the vertical. With decades of experience in commercial and residential non-performing loans, BP Law has built a national platform based on market drivers and innovation.
“Both our partners and advisory committee are thrilled to provide funding for BP Law London,” said Quraishi. “Its long-term relationships like these that have the ability to further success for each of the respective clients we serve.”
About BP Law Group, LLP
In an economic climate where individuals continue to default on mortgages, credit cards, loans and other financial obligations, BP Law Group has proven processes to help clients recover overdue balances as quickly and effectively as possible. With hubs in California, Texas and New York, the firm provides debt collection and a wide range of other legal services from offices around the world. The firm’s geographic diversity and extensive investments in technology enable its high-caliber professionals to efficiently cater to clients in the world’s leading business and financial markets. For more information, please visit www.bplawgroup.com.
About Pelican Point Capital Partners, LLC
Pelican Point Capital is a merchant bank providing direct investment & co-investment, capital advisory & introduction, bridge financing, as well as debt and equity investment. Our partners range in size from post-seed to mature enterprises in our 12 focus sectors that operate in numerous markets around the globe. Further information on Pelican Point Capital, its partners and advisory committee including bios for each, can be found at the Pelican Point Capital Partners website, please visit www.pelicanpointcapital.com.