FRP ADVISORY administrators have been called to international business and property law firm Hilliers HRW.
Tony Wright and Philip Watkins, both from FRP Advisory, were appointed joint administrators.
Wright said that the administration was "necessary due to the firm's inability to secure professional indemnity insurance cover".
After an indemnity period of 30 days, Hilliers entered a 60 day cessation period which is due to expire on 31 December.
A small team was retained from Hillers HRW to aid file closures, general administrative matters, client queries, debt collection and the transmission of client funds.
The administrators are also working closely with the Solicitors Regulation Authority which will ensure the continuity of ongoing cases.
Professional indemnity insurance for law firms ended in October, with institutes warning of a possible onslaught of administrations for those that failed to obtain it.
In November KPMG administrators were appointed to law firm Follett Stock after a winding-up order was petitioned by the taxman.
Law firms are expected to have a tough time in the coming year due to changes in employment tax and a crack-down on "no win no fee" cases.
You may also like
If budgeting is to have any value at all, it needs a radical overhaul. In today's dynamic marketplace, budgeting can no longer serve as a company's only management system; it must integrate with and support dedicated strategy management systems, process improvement systems, and the like. In this paper, Professor Peter Horvath and Dr Ralf Sauter present what's wrong with the current approach to budgeting and how to fix it.
In this white paper CCH provide checklists to help accountants and finance professionals both in practice and in business examine these issues and make plans. Also includes a case study of a large commercial organisation working through the first year of mandatory iXBRL filing.