ST John LAW Limited (07835324): administration
- Status
- Administration ended
- Administration began
- 2014-10-09
- Administrators' firm
- Quantuma
- Incorporated
- 2011-11-04
- Location
- Brighton
- Industry
- 69102 Solicitors
Why it went into administration
- HMRC / tax arrears
- Creditor pressure / legal action
From the administrators' statement
The Company was incorporated on 4 November 2011 and operated as a law firm authorised and regulated by the Solicitors Regulation Authority (“SRA”) The Company traded from leasehold premises tn London and employed 14 staff, of which 7 were qualified solicitors
The business specialised tn litigation and Its principal work involved the provision of legal advice and assistance to Irish developers whose businesses have been affected by the collapse of the Irish economy A number of these matters require the Company to act on a deferred fee basis The ability of the Company to operate on a deferred fee basis was largely dependent on the ability to recover costs awards from the losing party with recovery often taking several months or years The uncertain timing and quantum of this work impacted on the Company's cash-flow A number of matters proved not to be successful the result being that vast amounts of costs were written off
During the course of 2013, the business developed significant tax liabilites to HM Revenue & Customs ("HMRC") In respect of unpaid VAT, PAYE, Corporation Tax and associated surcharges, penalties and interest which it was unable to settle immediately On 27 June 2014, HMRC presented a Petition to wind up the Company in respect of a debt totalling £412,957
Administrators' statement of proposals (2014-12-11) · Companies House register