Arthur Cox LLP
With effect from today, Wednesday 16 December, Arthur Cox 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 LLP. However, from 16 December 2020, the individual partners in the LLP will not have personal liability for any debt, liabilities, or obligations that are incurred for the purpose of carrying on the business of the LLP, save in the limited circumstances provided for in the Act. The firm has, as it always has had, professional indemnity insurance which will continue to operate and protect the firm and its clients.
If you have any questions or queries about this change, please contact your usual Arthur Cox contact.