Cork Gully is an advisory and financial services firm specialising in business transformation, restructuring and special situations. Cork Gully was founded in 1906 and is headquartered in London, England. The firm advises public and closed companies as well as investment funds in financial distress.
History
In 1906 William Henry Cork created WH Cork & Co, focusing on grocery businesses which were, at that time, being forced out of business by the growth of multiple grocers. William Henry Cork, his son Kenneth, and Harry Gully established the firm in London as Cork Gully in 1935.
After William Henry Cork's death and a period of wartime service, his son
Kenneth Cork
Sir Kenneth Russell Cork GBE (21 August 191313 October 1991) was a British accountant and insolvency expert, and the Lord Mayor of London from 1978–1979. He is best known for chairing a major review of UK insolvency law (whose report issued in ...
succeeded him as senior partner. He went on to expand the firm as a specialist insolvency practice, gaining pre-eminence in its field by the 1970s.
Gerhard (Gerry) Weiss joined the firm in 1952, and was made the first insolvency partner in 1954.
Sir Kenneth Cork (as he later became known) chaired the Cork Committee, whose report issued in 1982 is widely referred to as the
Cork Report
''Report of the Review Committee on Insolvency Law and Practice'' (1982) Cmnd 8558, also known as the "Cork Report" was an investigation and set of recommendations on modernisation and reform of UK insolvency law. It was chaired by Kenneth Cork and ...
which led to the passing of the
Insolvency Act 1986. He also served as
Lord Mayor of London
The Lord Mayor of London is the mayor of the City of London and the leader of the City of London Corporation. Within the City, the Lord Mayor is accorded precedence over all individuals except the sovereign and retains various traditional powe ...
in 1978–79.
Sir Kenneth's son Sir
Roger Cork
Sir Roger William Cork (31 March 1947 – 21 October 2002) was a British accountant and insolvency expert, and the 669th Lord Mayor of London (from 1996 to 1997).
Roger Cork was born on 31 March 1947 in Hatch End, Middlesex, the son of Sir Kenne ...
followed in his footsteps, both as a partner in Cork Gully and as Lord Mayor of London (1996–97).
In 1980 Sir Kenneth Cork's successor as senior partner, Michael Jordan, led the firm into a merger with
Coopers & Lybrand
PricewaterhouseCoopers is an international professional services brand of firms, operating as partnerships under the PwC brand. It is the second-largest professional services network in the world and is considered one of the Big Four accounting ...
, which continued to use the name. The Cork Gully brand was eventually discontinued in 1999 after Coopers and Lybrand itself merged with
Price Waterhouse to form PwC.
The original firm's assignments included
Rolls Razor,
Emil Savundra
Michael Marion Emil Anacletus Pierre Savundranayagam (6 July 1923 – 21 December 1976), usually known as Emil Savundra, was a Sri Lankan swindler. The collapse of his Fire, Auto and Marine Insurance Company left about 400,000 motorists in t ...
,
[ ]Barlow Clowes
Barlow Clowes International Ltd was a British company, whose fraud and collapse caused an accounting scandal in 1988.
The collapse led to a number of important cases for English trusts law and UK company law, including ''Barlow Clowes Internationa ...
and car maker De Lorean.[Cork Gully re-established by great grandson]
''Accountancy Age'', 11 November 2010
In 2010 Stephen Cork, great grandson of WH Cork, acquired Cork Gully and the brand from PwC and established Cork Gully LLP, as a new firm in London.[ Stephen Cork was formerly the Head of Restructuring & Recovery at Smith & Williamson.]
Services
The firm provides advice on business transformation, asset management, disputes, restructuring and insolvency.
Industries
Cork Gully coverage includes Business Services, Energy and Mining, Healthcare and Life Sciences, Manufacturing, Real Estate and Construction, Technology and Telecommunications, Financial Services and Asset Management, Hotels and Restaurants, Media and Entertainment, Retail and Wholesale and Transportation and Logistics.
Subsidiaries
Cork Gully Group includes Cork Gully LLP, Cork Gully Asset Management Limited, Cork Gully Asset Managers Limited, Cork Gully Partners LLC, Cork Gully (Guernsey) Limited, Cork Gully (Jersey) Limited and Cork Gully (Cayman) Limited.[{cite news, url=https://corkgully.com/contact-us-hire-expert-opinion/]
References
External links
Family tree of Coopers & Lybrand
(then also trading as Cork Gully), Peter Boys/ ICAEW, 1989
Insolvency and corporate recovery firms
Accounting firms of the United Kingdom
Financial services companies established in 1935
Financial services companies disestablished in 1999
Financial services companies established in 2010
1935 establishments in England
1999 disestablishments in England
2010 establishments in England
1906 establishments in England
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