Corporate recovery and restructuring specialists Quantuma have saved 44 jobs with the sale of a Manchester law firm.
The business and assets of Carter Law Solicitors Ltd has been acquired by AWH Legal Ltd which will be defined as the Successor Practice. The firm was established in 2010 and specialised in family law, wills, immigration and personal injury with a particular focus on road traffic accidents.
Legal sector specialist Andrew Hosking, a Quantuma partner, was appointed Joint Liquidator. He said: “We had a number of interested parties and we are very pleased to have affected a sale that not only delivers value to creditors but both protects jobs and client interests.”
The Carter Law case is the latest appointment for Quantuma in the legal sector. Andrew Hosking is an insolvency practitioner with extensive experience of the legal sector. He advised on the recent Linder Myers LLP administration and has been involved in a number of other recent law firm matters including Isaac Abraham Solicitors, Prolegal and Jeffrey Green Russell.
He also led the Quantuma team that was appointed on January 17, 2017, as administrators to King Wood & Mallesons, the London and European law firm that suffered financial difficulties in the latter part of 2016.
Mr Hosking said: “These are trying times for the legal sector and particularly for those with significant exposure in personal injury. Both the LAPSO reforms and the forthcoming rise in the limit in the small claims court for all personal injury claims from £1,000 - £5,000 is resulting in a radical shake up in the profession and we expect to see more acquisitions, mergers and insolvencies.”
The specialist regulatory team at Ashfords, led by partner Samantha Palmer, are providing the liquidators with regulatory support and advice and Samantha Palmer has been appointed as the Solicitor Manager.
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