With effect from Monday 16th August 2021, Malcomson Law LLP is authorised by the Legal Services Regulatory Authority to operate, and will operate, as a Limited Liability Partnership under the Legal Services Regulation Act 2015 (the “2015 Act”).
The Partnership Act 1890 continues to apply to the Firm, to the extent that it is not inconsistent with the provisions of the 2015 Act.
The Firm’s operation as an LLP does not prevent or restrict the taking of any steps to enforce any debt, liability or obligation against the property of the Malcomson Law LLP. However, from 16th August 2021, the individual Partners in Malcomson Law LLP will not have personal liability for any debt, liabilities or obligations which are incurred for the purposes of carrying on the business of Malcomson Law LLP, save in the limited circumstances provided for in the Act.
The Firm has, as it always has had, Professional Indemnity Insurance cover in accordance with Law Society obligations, which will continue to operate and protect both the clients and the Firm itself.