Luther Pendragon helps with multi-million-pound FastJet dispute
Luther Pendragon has been drafted in to work for a Kenya-based businessman locked in a multi-million pound dispute with Sir Stelios Haji-Ioannou's new airline, FastJet.
Kenya Fly540: Became FastJet
The agency is supporting Kenya Fly540, part of Five Forty Aviation, which claims it is still owed US$6.8m (£4.3m) from the £55m deal that saw the Kenyan airline become FastJet. Kenya Fly540 CEO Don Smith claims the current situation means the sale has not been completed. FastJet rejected his claims, telling The Sunday Times: ‘Smith and his partners have been paid all amounts due to them.’
According to Five Forty Aviation, the dispute centres on ‘financial support given to Fly540 Tanzania as well as branches in Angola, Ghana and elsewhere… [and] does not relate to monies owed to individuals or any executive of Five Forty Aviation’.
Smith commented: ‘Luther’s reputation for handling intricate matters is far-reaching. Its ability to apply strategic thinking to the communication of complex issues made it a partner of choice.’
Director Harry Chathli is leading the Luther Pendragon team.
FastJet was created last June after the £55m all-share deal that saw Fly540 reverse into AIM-listed Rubicon. Rubicon was renamed FastJet – a brand name owned by Sir Stelios, who was given a five per cent stake.
This article was first published on prweek.com
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