Nesbit LAW Group LLP (OC331614): administration
- Status
- Administration ended
- Administration began
- 2018-07-12
- Administrators
- Anthony Collier, David Robert Acland
- Administrators' firm
- FRP Advisory
- Formerly
- Nesbit & Co Solicitors LLP
- Incorporated
- 2007-09-23
- Location
- Manchester
Why it went into administration
- HMRC / tax arrears
- Management failings / irregularities
- Cash flow / liquidity pressure
- Parent or group failure
- Weather / natural events
From the administrators' statement
The LLP was incorporated on 23 September 2007, essentially incorporating the business of Nesbit & Co solicitors which had traded since June 2003.
The LLP specialised in a variety of claims such as Road Traffic Accident’s, (“RTA’s”) mainly where fraud has been alleged, cavity wall claims, housing disrepair and holiday sickness.
The LLP was funded by Barclays from early 2007. During August 2009, Barclays elected to end the funding facility and a new facility with Premier Legal Funding (“PLF”) was used to provide ongoing working capital. BPF retain all asset security however PLF do not hold any security.
Administrators' statement of proposals (2018-08-07) · Companies House register