FRP Advisory administrators called to commercial property law firm
Administrators called to Hillier HRW after it was unable to secure professional indemnity cover earlier this year
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.