The Solicitors Regulation Authority (SRA) has confirmed it has formally intervened in the closure of PM Law and its subsidiary firms in a statement published yesterday on its website.
After calls for clarity from the regulator in the days following the closure of the Sheffield-based firm, a statement confirms the SRA launched an investigation on Monday which has resulted in the decision to intervene.
SRA chief executive Sarah Rapson said:
“We have acted quickly and decisively to protect the interests of clients.
“The sudden announcement from PM Law on Monday that they had closed is troubling news and I fully sympathise with the clients of the firm. Many of those involved are buying and selling a house or dealing with personal injury claims. These matters can be stressful enough without the added complication of your solicitor’s firm closing during the process.”
The SRA will now take control of all documents, papers and monies, including client money, held by the firm.
Details of the closure of PM Law and its 20-plus trading identities surfaced on Monday 2nd February after notices appeared on the doors of the firm stating the firm was no longer able to trade “due to regulatory matters”. The statement from the SRA indicates it was aware on Monday, but did not formally acknowledge the closure until a statement on Wednesday saying the firm had “closed suddenly and not in a manner we would expect.” It added it was in touch with the firm and appropriate action would be taken to protect client interests.
Full details of why the firm closed so suddenly are not yet clear. Rapson said the regulator was not in a position to disclose information about ongoing investigations, saying it was “working quickly to gather all the relevant information and provide answers to those that have raised important questions about their on-going matters with the firm.”
She concluded:
“Finally, we also recognise that this is a difficult time for the employees of the firm who have sadly lost their jobs this week.”
The conveyancing community has rallied round affected employees with extensive offers of support shared through social media. Today’s Conveyancer has launched a temporary vacancies page to support those affected and identify potential new roles. A similar page has been launched by the Society of Licensed Conveyancers.
Gordons LLP has been appointed intervention agent; details of what steps affected clients might take have also been published on the SRA website.
The names of firms affected are:
PM Law Limited
Proddow Mackay Limited
3M Law Limited
Linkfield Claims Service Limited
Butterworths Solicitors LLP
Autonet Law LLP
Proddow Mackay (Conveyancing) Limited
WB Pennine Solicitors LLP
Proddow Mackay Solicitors LLP
PM Law (Specialist Claims) Limited
PM Property Lawyers Limited
Additional trading names
Abraxas Law
All Your Accidents
Angela Viney Conveyancing Services
Complete Property Deal
Barrett and Co Solicitors
BB Conveyancing
Bridgeview law
DAzur Law
Deborah J Hoban Law
GN Law
Gaddes Noble Law
Gaddes Noble Property Lawyers
Gaines & Wilkinson Ltd
HGA Conveyancing
John M Lewis & Co Ltd
JK Advokatas
KB Property Law
Lexelle Assist
Litkraft Solicitors
Litkraft Conveyancing
Lloyd Green Solicitors
PLA Law Limited
PM Legal Services
PM Property Lawyers
Proddowmackay.law
Proddow Mackay (Conveyancing) Limited
Valerie Holmes Law
Valerie Holmes Property Lawyer
Wilsons Solicitors
Many of the employees of the firms believed to have been affected have taken to LinkedIn to say they are now looking for work, with the online legal community quick to offer support. Today’s Media has collated a list of firms with vacancies who have offered support to those affected. To be added please contact the editorial team at press@todaysfamilylawyer.co.uk.
Please include role title, a short blurb if possible, and contact details.
