Fri, 20 Dec 2013 | ADMINISTRATION
Administrators from FRP Advisory have been brought in to Hilliers HRW LLP, a solicitors firm that operated in Bedfordshire and Hertfordshire.
Tony Wright and Philip Watkins are now managing its business and wind-down. All existing client work for the firm had been transferred over to other local solicitor firms before entering administration.
Hilliers hired the administrators on 9th December after not being able to pay for its professional indemnity insurance (PII) cover.
While most of the 34 staff across its two offices have gone on to other businesses, seven were kept on to assist the administrators in the administration process.
The solicitors had entered the extended indemnity period for PII cover on 30th October and went into a 60-day cessation period during which it could continue working on existing files but not take on any new work.
Had it secured cover before the end of this year it could have survived intact, but had to make the decision to close down in light of the looming deadline on 29th December.
Joint administrator Tony Wright said: “FRP Advisory has retained a small team from Hilliers HRW during the administration process to assist in dealing with file closures, general administrative matters, client queries, debt collection and the transmission of client funds to ensure the orderly wind down is fully complaint with all necessary requirements stipulated by the SRA.”
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