PM Law is closed down: Regulator 'acts to protect interests of clients'
The Solicitors Regulation Authority (SRA) has taken possession of all money and documents held by a Yorkshire-based law firm which closed its doors suddenly due to “regulatory matters”.
On Monday morning, clients of the Sheffield-headquartered PM Law group found that its offices across Yorkshire and Cumbria had been shut without warning. These include an office in Ilkley, West Yorkshire, where a sign attached to the door says: “Due to regulatory matters, the PM Group businesses carried out within this building can no longer trade.” According to a recent post on Linkedin, PM Law Group, which was formed in 1990, has grown to a combined group of more than 600 people across a number of specialist businesses.
In a statement, the SRA said: “We were alerted to the unexpected closure of PM Law Ltd and associated firms on Monday 2 February. We understand that this is concerning and distressing news for all involved, not least those that had on-going matters with the firm. We launched an immediate investigation into PM Law on Monday and contacted the firm to make sure client interests are protected properly.
“As a result of our initial investigation, we took the decision to intervene into the group of firms. An intervention means we take possession of all documents and papers held by the firm, take possession of all money held by the firm (including clients' money), and, where a firm is still trading, close it with immediate effect.” Sarah Rapson, Chief Executive of the SRA, said: ‘We have acted quickly and decisively to protect the interests of clients. The sudden announcement from PM Law on Monday that they had closed is troubling news and I fully sympathise with the clients of the firm. Many of those involved are buying and selling a house or dealing with personal injury claims. These matters can be stressful enough without the added complication of your solicitor’s firm closing during the process.
‘While we cannot disclose information about an on-going investigation, we are working quickly to gather all the relevant information and provide answers to those that have raised important questions about their on-going matters with the firm. Finally, we also recognise that this is a difficult time for the employees of the firm who have sadly lost their jobs this week.
“We have appointed an intervention agent who will contact clients with ongoing matters, prioritising those with the most urgent or imminent issues. We have also provided initial information for clients on our website, which we will continue to update with more information as soon as we have it.”
The SRA said the firm names impacted were PM Law Limited, Proddow Mackay Limited, 3M Law Limited, Linkfield Claims Service Limited, Butterworths Solicitors LLP, Autonet Law LLP, Proddow Mackay (Conveyancing) Limited, WB Pennine Solicitors LLP, Proddow Mackay Solicitors LLP, PM Law (Specialist Claims) Limited and PM Property Lawyers Limited.