SRA investigates collapsed law firm Calibre
THE Solicitors Regulation Authority (SRA) has launched an investigation into Calibre Solicitors, a Salford-based personal injury law firm that went into administration in February.
According to a creditors report a number of clients had complained to the SRA about the conduct of their cases.
It states: “There is a growing number of Calibre clients who have independently contacted the legal ombudsman to investigate their complaints.
“Partly as a result of the level of complaints received and as a consequence of the administration, the SRA has launched its own investigations into the affairs of the company to ensure that the principles, codes and rules under the SRA accounts rules were adhered to by the company prior to administration.”
Administrators were appointed to Calibre, which traded as Legal Gateway, on February 8 from two firms, Harrisons Business Recovery and Blue Gate Capital. It has since closed and all 14 staff have been made redundant.
They were appointed by Harrow-based lender Justice Capital which was owed £2.9m at the time of the firm’s collapse. Wake Smith, a Sheffield-based law firm, has been appointed to handle the client files.
Administrators expect to recover around £3.1m from work in progress and other income, but unsecured creditors are owed £1.1m, leaving an overall shortfall of some £900,000.
Calibre, whose sole director was Edward Johnson, specialised in “no win no fee” noise induced hearing loss (NIHL) personal injury claims that could take three years to conclude. In the 12 months to November 2012 show turnover of £1.76m and a net profit of £175,000.
The SRA declined to comment on the case.
Source: businessdesk
