Legal 500-listed law firm, Seth Lovis & Co Solicitors Ltd, ceased all trading operations this week, after amounts falling due to creditors grew by 22% in the past accounting year (for the period ending 31 March 2018), to £18.9 million.[i]
Figure: Balance sheet of unabridged accounts, filed with Companies House
The limited company was founded by Seth Lovis, in 2000, and most recently employed 45 fee-earning staff (7 partners) in its Bloomsbury office, practising in personal injury, industrial disease, professional negligence, financial mis-selling, commercial and insolvency litigation, and family.
Seth Lovis will not be accepting new client matters and current clients will be contacted regarding the ‘next steps’ in relation to their case. Client money will be distributed by the appointed solicitor manager.
[i] John Hyde, ‘London firm with dozens of fee-earners ceases trading’ (7 March 2019 Law Gazette) https://www.lawgazette.co.uk/practice/london-firm-with-dozens-of-fee-earners-ceases-trading-/5069529.article> accessed 7 March 2019.