Preston firm completes MBO after entering administration

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  • "It's quite wrong that the partners in such firms can walk away from their creditors, when partners in unincorporated forms, who actually take responsibility for their financial decisions and accept liability for their debts, would be made bankrupt in a similar situation"

    It's dumb that people think there should be any difference between law firms and other commercial concerns, which use limited liability structures as a matter of course. There is no good argument as to why law firms should operate on an unlimited liability basis.

    Who honestly gets angry about this stuff? Law firms are businesses. Sometimes businesses fail.

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  • "This is a lamentable lapse of the probity we used to take for granted."

    Can those seeking to inpugn the probity of those involved in the relevant firm please confirm that they have reliable sources and grounds for their accusations? Or if not, perhaps consider retaining the services of Messrs. Carter-Ruck? Unbelievable the idly judgemental inanities that people fire off on the internet.

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