What Happens if a Solicitor’s Practice is Closed Down by its Regulator (the SRA)?
We at Gardner Croft LLP are pleased to help and advise any clients in East or North Kent who might have been affected by a solicitor's or licensed conveyancer's practice closing down. As a long established High Street legal practice we offer a range of legal services including residential and commercial property; wills, trusts and administration of estates; care of the elderly; advice on family breakdown; disputes and employment advice.
What Happens if a Solicitor's Practice is Closed Down by its Regulator (the SRA)?
The SRA may intervene in solicitor's firms to protect the interests of clients the public and the solicitor's profession. Before closing down the firm the SRA must have concerns that the clients' interests are at risk. Intervention is a protective step.
What Happens when the SRA Closes Down a Firm?
When the SRA closes down a firm, funds are arranged to be transferred to the SRA and an intervention agent (another firm of solicitors) will be asked to hold the firm's papers safely. These will include clients deeds, documents, case files and papers. The intervention agent will try and contact all the clients and ask what they want done with their papers although they may not be able to do that straight away.
What Should you do if you are a Client of the Practice which has been Closed Down?
If you are a client or former client of a practice which has closed down you should contact the intervention agent straight away and consider instructing another firm of solicitors local to you to act on your behalf going forward. This is especially important if your case is urgent. Usually the intervention agent will not want to act for you in the long term although they may be able to assist in exceptional circumstances, for example if you are completing a property purchase the same or the next day after the intervention. In any event, the intervention agent may be in another part of the country, several hundred miles away from where you live.
If you need advice or assistance please contact us at SRA.org.uk or by telephone on 0370 606 2555.