Home / Crime and Justice / Law Firm Collapse Leaves Families Facing Financial Ruin
Law Firm Collapse Leaves Families Facing Financial Ruin
7 Feb
Summary
- Clients face mortgage debt and loss of deposits after firm closure.
- Around 600 staff are also uncertain about their employment status.
- The Solicitors Regulation Authority has intervened in the group of firms.
The sudden closure of Sheffield-based legal firm PM Law has left thousands of clients and staff in a state of uncertainty. The Solicitors Regulation Authority (SRA) has intervened in the group of firms, which include Proddow Mackay and Butterworths Solicitors, to address the situation.
Clients, such as Amy-Jade Hughes, are facing significant financial distress. Hughes, who was preparing to sell her home to move to Australia, discovered her mortgage had not been paid off, leaving her liable for nearly £100,000 in debt. Similarly, Ellie Vaughan and William Mann are grappling with two active mortgages on one property due to an incomplete remortgaging process.
Others, like Katie Brown, have experienced direct health consequences from the stress, leading to the cancellation of a medical operation. Brown also faces the inability to complete a house purchase as funds were not transferred to the seller. Micah Williams is in a race against time, with a house sale jeopardized and a potential loss of a £90,000 deposit.
