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Local Solicitors step-in to help clients following closure of bulk conveyancing firm Wolstenhomes

The plight of distressed home buyers and sellers clients in London, Manchester and Birmingham, following the closure of bulk conveyancing firm Wolstenholmes, has prompted the Law Society , in association with Manchester Law Society, to set up a scheme to assist desperate conveyancing clients marooned in the midst of property transactions.

Following the closure by the Solicitors Regulation Authority of Wolstenholmes, which has been shut down following suspicions of serious financial irregularities, a host of clients who exchanged contracts were unable to complete on the sale or purchase of their home.

The Law Society of England and Wales and Manchester Law Society have joined forces to assemble a pool of Manchester-based law firms who will be available to take on the work and complete the transactions without delay or inconvenience to the clients.

While a rigorous investigation into the firm is under way, the Law Society along with the Manchester Law Society have implemented a scheme to enable clients of Wolstenholmes to transfer their business to other solicitors.  Those clients affected by the closure of  Wolstenholmes have been assured that any money that they have entrusted to Wolstenholmes is secure and will be returned to them, either through the firm’s own professional indemnity insurance, or if appropriate the Compensation Fund administered by the SRA.

Law Society Chief Executive Desmond Hudson said; "The scheme is a response to a crisis situation which has arisen due to the closure of a firm following regulatory action. It is has been implemented to ensure that clients are not left in the lurch without legal representation. It is important to emphasise that clients have a free choice of firms both within the scheme and without. This action is a useful example of how the solicitors profession is keen to deal with problems in its midst and to protect the interests of consumers.  Using a solicitor offers clients unique protections and guarantees, as this case shows."

The list of firms is available on this web site (click here)  

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next events

• 2010-04-13
• Referral Arrangements

• Referrals are a hot topic both with the profession and its regulators; whether we like it or not referrals are here and here to stay for the foreseeable future. Breaches of the referral rules are viewed very seriously by the SRA so you cannot afford to ignore them. This seminar will take you through the referral rules, give you guidance on how you can comply with them, and give 'real life' examples of what you should be watching out for when referrers approach you.

• 2010-03-25
• The Ultimate Secretarial Conference 2010

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  The Manchester Law Society Presents....
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