- Thursday, 6 August 2015
A solicitor who has become a professional McKenzie Friend after 20 years in practice has hit out at the burden imposed on high street practitioners, which he said cost him almost £2m and pushed him into personal bankruptcy.
Tags: McKenzie Friend
Posted in Latest news, Solicitors
Since abolition of the common renewal date, practices have been free to choose when to renew their professional indemnity insurance. We estimate that around 30-40% now renew between March and April.
Selling a law firm can be a complex process. The time comes when you might want to move on or retire, and finally extract as much value as you can from your practice. It’s a huge decision and a challenging task.