Neil Hudgell Solicitors has purchased a book of work with a seven figure valuation from the administrators of Harris Cartier Limited, a litigation and corporate law firm based in London.
The acquisition by Neil Hudgell Solicitors is of mostly high value and catastrophic injury work. The deal also underlines Neil Hudgell Solicitors’ intention of establishing offices in the capital in order to serve increasing numbers of clients based in the south of England.
Harris Cartier is the first firm to be placed into administration following failure to put in place Professional Indemnity insurance cover before the legal regulator’s October 1 deadline. The Joint Administrators effected an immediate sale to Neil Hudgell Solicitors and Gordon Dadds LLP.
Neil Hudgell, Managing Director at Neil Hudgell Solicitors, said: “The acquisition from Harris Cartier is part of our wider and on-going growth strategy. The establishment of a London base is also fundamental to our plans and has been on the radar for a while. We will now be actively seeking premises in the capital and staff with a view to be open by the end of the month.”
“We anticipate that the acquisition from Harris Cartier will also be a prelude to further deals as other firms fail to obtain PI insurance cover and seek to dispose of work.”
“We wish to thank our advisors Phil Jordan at Ward Hadaway Solicitors and Zoe Holland of Zebra Consulting, who carried out the auditing, for their quick and professional service in making this deal happen within a very short window of time.
“We will contact all new clients who can be sure that their cases will be handled with the high level of customer care for which we are known.”