44 jobs saved in distressed law firm sale
MANCHESTER law firm Carter Law Solicitors has been sold by its liquidators, saving more than 40 jobs.
The firm, which was established in 2012 and specialised in personal injury with a particular focus on road traffic accidents, as well as family law and immigration, has been bought by one of its former directors.
Abdul Waqass Hussain stepped down as a director of Carter Law in September 2016, having set up AWH Legal – which will be defined as the successor practice – in December 2015, according to documents filed at Companies House.
Andrew Hosking, a legal sector specialist at corporate recovery and restructuring firm Quantuma was appointed joint liquidator on January 12.
Hosking, who advised on the recent Linder Myers administration, 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.”
He added: “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.
