Craig Jones, operations director, Simpson Millar

Opinion: Liabilities of acquiring failed firms’ cases should be clarified

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  • Simples - do what they did at Halliwells. Put the firm into administration, set up new sub LLP's, buy the distressed firms assets from the administrators and drop them into the new LLP. Then do your DD from afar before bringing the performers into the top LLP, kiss the poor performers goodbye and collapse the sub LLP.
    Result!

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