Firm broken up after failing to secure indemnity insurance


Hudgell: London base

Harris Cartier – a 26-lawyer niche litigation and corporate practice with offices in London and Slough – has become the first firm to be placed into administration following the failure to arrange professional indemnity insurance for 1 October.

The joint administrators, Zolfo Cooper, sold its clinical negligence practice to highly acquisitive firm Neil Hudgell Solicitors, with the rest moving to Mayfair law firm Gordon Dadds.

Steve Cottee, the partner at Pinsent Masons acting for the administrators, said the firm went into administration on late Friday afternoon having been unable to secure funding for its insurance premium.

The clinical negligence book had a seven-figure valuation, according to Neil Hudgell Solicitors, mostly made up of high-value and catastrophic injury work. It will also give the firm a presence in London for the first time.

Managing director Neil Hudgell 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.”

Up to this point, his firm has spent £4m on 20 deals with cumulative work-in-progress (WIP) of around £10m, including the purchase of four legal practices, doubling the headcount in the process to around 110. It recently with national firm Simpson Millar to broaden the range of both firms’ acquisition targets.

Eight solicitors have joined Gordon Dadds across company and commercial, private client, and commercial litigation and property law.

Adrian Biles, managing partner at Gordon Dadds, said: “Gordon Dadds is expanding and evolving. This is an exciting time for the firm. We are delighted to welcome our new colleagues and look forward to working alongside them.”

The firm recently launched Gordon Dadds Consulting, which offers a wide range of risk management and compliance, HR and actuarial consulting services.




Leave a Comment

By clicking Submit you consent to Legal Futures storing your personal data and confirm you have read our Privacy Policy and section 5 of our Terms & Conditions which deals with user-generated content. All comments will be moderated before posting.

Required fields are marked *
Email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Reports

No larger firm can ignore the demands of innovation – that was the clear message from our most recent roundtable: “The law firm of the future”, sponsored by LexisNexis Enterprise Solutions. It comes in many forms, predominantly but not just technology, and is not simply a case of automating process. Expertise and process are not mutually exclusive.

Blog

11 September 2018

Legal marketing lessons from Ed Sheeran

Anyone starting a new law firm or starting out on their legal career could take several lessons from Ed Sheeran’s approach to promoting himself.

Read More