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Orderly Closure of Law Firms

Due to the regulatory requirements surrounding law firms, the closure of a law firm is not a simple process and needs to be conducted with care and attention to avoid regulatory repercussions for both the firm and the owners. Whether you are seeking to close your firm completely or your firm is merging or being sold there will be responsibilities that the owners of the firm must address.

Find out more

For more information about our Compliance Services you can call us on 0203 911 9710 or you can email us at info@thestrategicpartner.co.uk. You can also download our Regulation & Compliance services brochure by clicking on the link below.

The Strategic Partner works with firms to ensure that closure is undertaken on an orderly basis and where that is simply not possible due to sudden or financial issues, we will work with the firm to minimise negative impact wherever possible.

Our Services

To avoid negative attention from the Solicitors Regulation Authority there are a number of core areas that a firm must consider and some of these considerations may apply even if your firm is being sold, dependant on the arrangement made with the buyer.

Our Closure services will include helping to build a closure strategy trough to taking the necessary action on your behalf and will cover the following key areas: -

  • SRA Notifications and other regulatory issues
  • Notifications (website, letter head, website, phones etc)
  • Companies House Notification where necessary
  • Insurance and Run off cover including extended policy periods
  • Staff Management
  • Client Management and File Transfers
  • Liaison and engagement with Accountants
  • Banking and Finance
  • Client Accounts and Office Account Management and considerations including aged client balances
  • Suppliers
  • Disbursement Management
  • Files Storage and Archive Management
  • Undertaking transfers at discharge
  • HMRC considerations
  • Debt Management
  • Credit Management and Credit Control
  • Offices and Office Equipment
  • Case Management System considerations
  • Partnership and Shareholder agreements including disputes

There is a significant amount of work to undertake and organise when a law firm is to be closed in an orderly basis and planning for the closure is an essential step to ensuring it is a task that is completed correctly protecting the firm, the owners, the compliance officers its staff and clients.

We provide both packaged and individual solutions that directly add value into the firms we work with. You can download brochures on these services below:

Additional Compliance Services

Codes of Conduct

Specialist services designed for law firms, to assist with all areas of regulation, inc, COLP & COFA.

Anti-Money Laundering

We will work with your firm to ensure it has a full understanding of the requirements of the AML and related legislation.

Firm and File Audits

We have the expertise to provide firm wide audits and regulation advice across all areas of the practice.

New Law Firm & ABS Applications

We assist individuals and firms with making new law firm and ABS applications for all structure types.

Risk Management

At The Strategic Partner we work with law firms to establish a robust risk management strategy that covers both insurer and regulatory obligations.

Complaint Management

Our complaint management service provides firms with an effective outsource solution that enables complaints to be addressed quickly, with impartiality and resolved in the most effective manner..

Compliance Management

Our services ensure that a firm’s compliance officers can achieve peace of mind knowing that the policies and procedures adopted by the firm ensure the firm is compliant and that it will stay compliant.

Compliance Administration

The Strategic Partners Compliance Administration Service was developed at the request of our member law firms.

SRA Investigations

If your firm expects or has received a notification of investigation or the SRA have arrived at the firm our team are available to assist you.

SRA Interventions

If your firm expects or has received a notification of investigation or the SRA have arrived at the firm our team are available to assist you

Solicitors Disciplinary Tribunal

Whether you have received notification of investigation or the investigation has been concluded and a referral to the Solicitors Disciplinary Tribunal has been made it is advisable to seek expert advice and guidance.

Professional Indemnity Renewal

We work with both the Insurers and law firms providing risk guidance and risk reviews that are used for the purpose of the insurers considering the risk and premiums and in more serious cases whether to offer renewal terms.

Office Procedures Manual

We work with firms to create and maintain their office manuals, including firms with or without Lexcel and other quality kitemarks such as CQS, WIQS and legal aid franchises.

Procedure & Documents Drafting

At the Strategic Partner we work with firms to ensure they have documentation that is bespoke to them and reflects what they do in practice.

Training & Development

The Strategic Partner have developed training which can be delivered to firms and their staff to ensure there is a full and thorough understanding of the issues that firms face when managing risk and compliance and what their role is.

Partnership & Shareholder Agreements

We can assist with drafting and agreeing new partnership and shareholder agreements, reviewing and renewing existing agreements and partner and director disputes.

Succession & Exit Plans

The Strategic Partner can work with firms to develop succession and exit plans that achieve the goals of the current partners, further develop training and mentoring of future the Partners.

Orderly Closure of Law Firms

The strategic Partner works with firms to ensure that closure is undertaken on an orderly basis and where that is simply not possible due to sudden or financial issues, we will work with the firm to minimise negative impact wherever possible.

Data Protection & GDPR

Due to the nature of how law firms operate, the management, control and protection of data is an essential element of a firm compliance and regulation strategy.

Membership

Our membership provides firms with a range of benefits, discounts, updates and interaction all focussed on bringing value to your firm.

For more details on each of the services we provide please click on the links below.

 

We provide both packages and individual solutions that directly add value into the firms we work with.

Enquiries

To find out more about our law firm closure service you can  call us on 0203 911 9710 or you can email us at info@thestrategicpartner.co.uk.



Let's talk about how we can help

Get in touch - call us on 0203 911 9710 or complete the form.
Tell us what you need or ask us a question, we'd love to discuss your business.

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