David Standish and John Milsom of KPMG were appointed compulsory liquidators over solicitors firm Follett Stock LLP and Follett Stock Holdings Limited on Monday 4thNovember.
David Standish, joint liquidator commented that: “The Solicitors Regulatory Authority intervened following a winding up order coming into effect against Follett Stock LLP and Follett Stock Holdings Limited. As a direct consequence of the winding up order being made 30 remaining staff at Follett Stock’s offices in London and Truro have unfortunately been made redundant.”
The liquidators at KPMG will now seek to investigate the affairs of the firms and determine the assets which can be realised to benefit the creditors.
Standish, added: “The joint liquidators are currently reviewing the affairs of the firms. Anyone who believes they are a creditor or has any information regarding the firms or their affairs should write to the joint liquidators at KPMG LLP, 8 Salisbury Square, London EC4Y 8BB.”
KPMG are working closely with the Solicitors Regulation Authority (“SRA”) and any clients of the firms should contact the intervention agent appointed by the SRA, Lester Aldridge LLP, who can be contacted on 01202 786341 / firstname.lastname@example.org.
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KPMG LLP, a UK limited liability partnership, is a subsidiary of KPMG Europe LLP and operates from 22 offices across the UK with over 12,000 partners and staff. The UK firm recorded a turnover of £1.8 billion in the year ended September 2012. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. We operate in 156 countries and have 152,000 professionals working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. KPMG International provides no client services.
This article represents the views of the author only, and does not necessarily represent the views or professional advice of KPMG in the UK.