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The Office for the Supervision of Solicitors (OSS) has slashed the number of firms on its intervention panel by almost 75 per cent, following a tendering process carried out over the past five months.
After offering an open invitation to tender in November, the OSS has cut the number of firms from more than 100 to six in London and another 23 nationally.
Firms on the panel are instructed by the OSS to administer the winding down of a solicitor's practice following an intervention under the Solicitors Act.
Of the six London firms, Orchard is the only new addition to the panel. Those retaining their positions are Bevan Ashford, Devonshires, Russell-Cooke, Osmond Gaunt & Rose and Penningtons. The 23 firms carrying out interventions outside London are yet to be confirmed.
The OSS has had the intervention panel for around three years, but the size had got out of hand. As there are only around 80 interventions a year, it meant some firms were not getting work on a regular basis.