News
CoL owed 450 000 pounds by defunct Halliwells
- 22nd September 2010
The College of Law has admitted it may be forced to write off a debt of nearly £450,000 for unpaid LPC fees after Manchester firm Halliwells went bust.
The firm, which had an exclusive LPC arrangement with the CoL, went into administration in July owing around £14.1m to various creditors
But as an unsecured creditor, the CoL is at the bottom of the list of those likely to see their debts paid. CoL chief executive, Nigel Savage, has reportedly said he had no idea of the firm’s financial problems other than the fact that the fees had not yet been paid.
An initial creditor’s report names some of the firm’s creditors which include the inland revenue, barristers and chambers and small businesses.
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