Sad times
London-headquartered Fletcher Day has closed following an intervention by the SRA.
The firm was set up in London in 2009 and expanded to Manchester in recent years. It offered legal advice ranging from commercial property, corporate, litigation, and family law, and is understood to have had around 60 staff, including 30 lawyers.
A statement by the SRA said that it had "intervened to protect the interests of clients" and any beneficiaries of trusts of which the firm was a trustee.
Exact details remain unclear as to why the firm was shut down. However, it does not appear that the firm broke the regulator's rules, or there had been dishonesty, as the SRA would use specific wording for that in its reason for intervention; and it did not do so.
The intervention means the SRA has stopped the firm from operating with immediate effect, and will take possession of all documents, papers and money held by the firm (including clients' money). The regulator has appointed an agent to deal with all matters held by the firm.
RollOnFriday was tipped off about the closure a few days ago, but the firm did not respond to requests for comment. Also, its website has been "under maintenance" all week.
A source told RollOnFriday earlier this week that they did not believe there was anything "dodgy" about the closure, and that it was "a real shame" as "there are a lot of good guys" at the firm. The source added that apparently the firm's CEO "was very nice to everyone" and the handling of the closure has been "very un-Metamorph."
The firm's founder Jude Fletcher, who trained as a classical pianist, worked at City law firms including Mishcon de Reya, before launching his own practice in 2009.
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Comments
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So Felcher worked at Mishcon and clearly learned how to run a firm competently, in good financial health, in the best interests of clients in compliance with the conduct rules and without any money laundering or KYC breaches. That makes total sense.
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I see one of their directors (the one now at Gunner Cooke) has just resigned. Doesn’t surprise me at all. One of the worst people I’ve ever had to work with. Rude. Pompous and on an ego trip.
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This has been coming for a long time. The [redacted] had an inability to manage anything, let alone a law firm. Good riddance, I say.
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"Rude. Pompous and on an ego trip."
Wait, the one that wasn't from Mishcon?
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Pretty sure this is only the start of the story. We'll see why the SRA acted the way they did. Apparently the closure has not been a surprise to the people working there.
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I suspect that the SRA has Ince on the watch list as well. No audited accounts for 2021-2022 and suspended shares looks like a firm quietly screaming for an intervention.
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At least no one will have to put up with bad smells or noises anymore. One of the partners there used to constantly let it rip in the office and it was really loud... you know who you are
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"I suspect that the SRA has Ince on the watch list as well"
I think you might be giving them a bit too much credit, if I'm honest.
Unless Ince has left a laptop on the train on the way home from a night of consensual intercourse with a junior associate.
At which point it will be not only on the radar, but mere milliseconds away from the impact of a brace of SRA branded tomahawk missiles.
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Not sure how credible your source is, having previously worked there for a few years, there were a lot of two-hats at the firm.
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Basically I worked there, pre covid the firm over expanded, fancy offices for much of the time, far too much space etc. A few poor costly hires, then hit by covid downturn, downsized offices, too little too late, huge debts.....poor management....usual story 💤
But good fee earners who deserved much better!!!!
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Lool, to think I wanted to do a TC at there at one point.
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So what will happen to the trainees there?..