Parabis LAW LLP (OC315763): administration and why it failed

Parabis LAW LLP (OC315763): administration

Status: Administration ended
Administration began: 2015-11-23
Administrators: Benjamin J Browne, Anne Clare O'Keefe, Peter Mark Saville
Administrators' firm: AlixPartners
Incorporated: 2005-10-21
Location: Manchester

Why it went into administration

Funding withdrawn / unable to refinance
HMRC / tax arrears
Regulatory change or action
Cash flow / liquidity pressure

From the administrators' statement

323 A number of factors have impacted the Group in recent years and these are discussed further below

Regulatory change

324 LSA 2007 permitted non lawyers to own and invest in law firms for the first me, bringing about the concept of the ABS

Administrators' statement of proposals (2015-12-31) · Companies House register

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