So when will the regulator intervene?

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  • I notice that Challinors Legal Limited was incorporated just 6 days ago and Challinors Ltd was incorporated on the 15th July 2013.

    It will all be pre packed and sold back to the original Directors for nothing - they walk away from £11m debt and the poor creditoirs suffer. Will any regulator care? Not one bit

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  • It's going to be difficult for the SRA to ignore this business of borrowing from clients to keep the leaking ship afloat, particularly if the end result is that clients end up losing money via a prepack.

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  • There is also the risk that some law firms who are in financial difficulties might cut corners and compromise their service to clients with the inherent risk of negligence that this would carry.

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