Plexus Law - case update

Last week, we wrote about how the business and assets of listed law firm The Ince Group PLC were acquired by national law firm Axiom DWFM Limited via pre-pack sale.

Since then, Axiom (now known as Axiom Ince Limited) has continued its distressed buying spree with the purchase of Leeds-headquartered insurance law firm Plexus, which consists of Plexus Legal LLP and Plexus Law Limited in England and Plexus North LLP in Scotland.

On July 7, James Clark and Rick Harrison of Interpath were appointed Joint Administrators of Plexus Legal LLP and Plexus Law Limited, whilst James Clark and Blair Nimmo were appointed Joint Administrators of Plexus North LLP. Shortly thereafter, the Joint Administrators completed the pre-pack sale to Axiom Ince.

While the financial terms of the deal have not been disclosed, it appears that 540 jobs will be saved.

The Joint Administrators have been assisted by Macfarlanes.