Sale of law firm completed
Following the appointment of Leeds-based David Wilson and Ian Walker of Begbies Traynor to South Devon legal practice Recompense Limited last month (22 May 2013), all divisions of the firm have now been sold to other local firms, ensuring the best possible outcome for both the clients of the practice and also the creditors.
The personal injury practice of the Paignton-based law firm, which also trades as Eastleys Solicitors, has been transferred to Underwoods; its PPI business has been sold to Bollin Legal; and its remaining private client business, including wills and conveyancing work, has been transferred to WBW Solicitors based in Exeter.
“After negotiating with a number of interested parties over the last month, we are pleased to have achieved an orderly wind down of Recompense with the completion of the sale of all parts of the practice to other local firms,” comments Joint Administrator David Wilson. “Not only has this achieved a good return for creditors, it has also ensured a seamless transition of cases in progress for clients.”
Ian joined Begbies in 2000 from Pannell Kerr Forster after practicing insolvency for the previous 20 years with Big Four firms. A member of R3 and a Fellow of the Institute of Chartered Accountants in England & Wales (from which he also takes his Insolvency Licence, he is currently a member of the ICAEW Investigation Committee. Over the years, Ian has dealt with all types of insolvency and at least three recessions. Currently, his practice based in Exeter and Plymouth covers the whole of Devon & Cornwall (including the Scilly Isles), together with as much of Somerset and Dorset as he can get away with! He deals with all types of personal and corporate insolvency and also concentrates on pre- and post-lending review work for all the major lending institutions.