The UK Solicitors Regulation Authority (SRA) has taken immediate action to shut down City of London-based Fletcher Day Limited in order to safeguard the interests of its clients and beneficiaries of a trust where the firm acted as a trustee.
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The SRA has also intervened in the practice of Jude Fletcher, (pictured) the firm’s director, for the same reasons. An intervening agent has been appointed and the firm is now closed, with Fletcher prohibited from practising law.
Fletcher Day Limited, which described itself as a dynamic and vibrant law firm with national and international reach, specialised in a range of areas including corporate and commercial work, commercial litigation, property litigation, insolvency, commercial property, and foreign investment into the UK.
The firm had 60 employees, including 30 solicitors.
Fletcher, who has been a solicitor since 1999 and had previously worked for Julian Holy Solicitors and Mishcon de Reya, founded the firm in 2009. Despite the company’s growth, with an additional office opened in Manchester, earlier this week The Lawyer reported that HM Revenue & Customs had issued Fletcher Day with a winding-up petition.
According to the firm’s most recent published accounts, covering the year ending 31 March 2021, Fletcher Day had net assets of approximately £560,000, which included £345,000 in cash reserves. The firm’s website is currently undergoing maintenance.