Administrators have found buyers for parts of the network of law firms operating under the umbrella of Law Direct Limited, it has been revealed.
Regarding the sale process, the Law Society Gazette reported:
“The sale of certain aspects of the business and assets was completed on 20th June to north west London firm Alexander and Partners. The administrators said this arrangement had secured three jobs and ensured the seamless transfer of files, although it is not clear what trading names are being retained or what is happening to the remaining staff.”
Those entities outside the scope of the sale process have been subject to SRA intervention.
According to a statement from the administrators published by the The Gazette, the company began to experience financial difficulties in the aftermath of making several acquisitions over the last two years. The statement is as follows:
“For a number of reasons, the integration of the acquired businesses was not straightforward and became increasingly difficult over the period resulting in the company being unable to properly control the businesses and to renew professional indemnity insurances across the various practices when they were up for renewal.
Due to these complications, it became clear that an insolvency process was required and after discussion with the SRA it was determined that pre-packaged administration sale, where requisite marketing, bidding, negotiation and contract preparation was undertaken prior to the company entering administration, would ensure that part of the business could seamlessly transfer to a new operator ensuring that as many of the clients as possible could be protected and their respective files progressed without significant disruption.”
It’s said the firm names under the umbrella of Law Direct Limited are:
- Blackstone Law Solicitors & Advocates
- Ellison & Co, Strain Keville
- Geoffrey Bryant & Co
- Brinley Morris Rees & Jones
- Redfern & Co, Beverly Davies Penny
- Volks Hedleys, Kirk & Partners
- Davies Ingram Harvey
- Davies Phillips & Partners
- Griffith Smith Conway
Between them, the firms offer a range of services including conveyancing, wills, probate, estate planning, and family law.