Administrators today confirmed that the final unsold part of defunct law firm Cobbetts has been acquired.

Debt recovery division Incasso, based in Leeds, was left out of the takeover deal put together by national firm DWF to acquire Cobbetts earlier this month.

HL Legal Solicitors, which operates in debt recovery and litigation, has now taken over responsibility for all current and prospective Incasso clients and its workforce of 52.

HL said it was committed to work with the Incasso staff and the Solicitors Regulation Authority to ensure an orderly handover of the business.

The firm has applied to the SRA to become part of the Sigma Financial Group as an alternative business structure. Sigma is majority-owned by New York-based private equity investor Cyrus Capital Partners.

Steve Slatter, Head of Legal Services at HL, said: ‘We are very pleased to have the opportunity to work with the clients of Incasso and we are determined to ensure that they continue to receive an excellent service from HL.

‘We are making contact with all clients to discuss the business in hand and their future requirements. This transaction is a very important development for HL and has the full backing of the SRA and our prospective shareholders at Sigma Financial Group.’

HL operates from offices in Redditch where it has more than 70 staff and partners.

Mark Firmin, head of KPMG’s UK regions restructuring practice and joint administrator to Incasso, said: ‘We are very pleased to provide some certainty for the business and to have concluded the transfer of all the remaining Cobbetts business and assets.’