Womble Bond Dickinson (WBD) has advised on the sale of local historical asset, the Weardale Railway, out of administration to the North East charity, The Auckland Project.
Weardale Railway, which runs from Bishop Auckland to Stanhope in County Durham, was put up for sale last month by its American owners. It has now been bought by the charity behind key regional initiatives such as the restoration of Auckland Castle and the creation of the Kynren night show.
The WBD team, led by partner Kevin Bell, advised the administrators on all rail regulatory aspects of the deal. WBD also worked in collaboration with business advisory firm FRP Advisory and Tees Valley law firm Endeavour Partnership.
Kevin Bell of WBD commented:
"Helping our clients to support the economy, culture and legacy of the North East is an important strategic goal for WBD and we are delighted to have played our part in securing the future of the heritage railway. With one of the largest specialist rail teams in the UK, coupled with our knowledge of the local market, we were well placed to advise on this deal."