Fri, 09 Jul 2010 | BUSINESS SALE
Manchester-based law firm, Halliwells, is making a bid to gain more time to carry out its search for a buyer without entering into administration.
The firm has, for the second time, filed a notice of intention to appoint administrators, having first filed its intention on June 24. It is working with accountancy firm, BDO, to explore its options.
A statement issued by the firm said discussions were on-going and that the extension would give them time to comprehensively consider all the deals with which they were being presented.
"Halliwells continues to make good progress with its discussions for the transfer of the business to a number of other highly regarded firms of solicitors," a spokesman said.
"In light of this, Halliwells has been advised to file a second notice of intention to appoint an administrator today [7 July] which will allow until 20 July to conclude the deals."
The spokesman added that all of the parties involved were working so that the clients would see a seamless transfer with no disruption. He explained that the notice application enacts a moratorium, which serves to protect the interest of clients and stakeholders in the business.
An administrator has not yet been appointed.
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