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Much is being reported in the legal press about financial stability, but without much clarity in terms of the measures being applied or direction firms should take to address the situation.

In light of recent law firm failures, Baker Tilly carried out a survey of firms to assess their understanding of financial stability. This report highlights the potential pitfalls and suggests practical steps to reduce the risk of financial disaster – both for law firms and their partners.

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Benefit from an external run off and retain the full value incumbent in WIP

Delta Legal

When personal injury (PI) law firm, Delta Legal, realised it was facing insolvency issues following the huge changes to the legal landscape last year, its managing partner knew he had to act quickly to improve the situation both for creditors and clients.

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