Housing disrepair: Firm handles claims
A North-West consumer claims law firm that was facing a winding-up petition has paid its debt and expects the matter to be formally concluded soon.
Premium Credit issued the petition last week against Ryans Solicitors, which has offices in Liverpool, Manchester and Warrington.
The firm, which handles financial mis-selling and housing disrepair work, is headed by Joseph Ryan.
He told Legal Futures that that the debt due to Premium Credit had been paid in full yesterday.
“As a result, we expect the winding-up petition to be withdrawn and the matter formally concluded shortly.
“Throughout this process we have remained in dialogue with both Premium Credit and the Solicitors Regulation Authority (SRA), keeping the relevant parties updated as matters progressed.
“We have also taken proactive steps to secure additional funding for the business and the firm continues to trade and operate as normal.”
Mr Ryan stressed that “at no stage has there been any impact upon client monies, client account, or the firm’s ability to safeguard client funds. No client money has been at risk”.
He added that, whilst the matter remained live until the petition has been formally dismissed by the court, it would not be appropriate to comment further on the underlying circumstances.
Ryans Solicitors’ most recent Companies House filing, for the year to 31 August 2024, said it had 36 staff, up from just five a year before.
It has an outstanding charge from 2022 in favour of Claim Finance & Administration Co Ltd, a litigation funder which trades as Nera Capital.
A spokeswoman for Premium Credit said it did not comment on legal matters.