A Liverpool firm has been closed down by the Solicitors Regulation Authority over suspected dishonesty on the part of its veteran owner.
The regulator announced today that it has intervened into Abensons Law Limited, citing reason to suspect dishonesty by its manager Edward Abenson. No further details about the cause of the closure were disclosed.
The firm’s affairs are being handled by Bradford firm Gordons which has been appointed as the intervening agent.
Abensons was founded in 1974 by Edward Abenson, who was admitted to roll three years previously and continued to lead the business as managing director. The firm practised in all areas of private client law and had more than 30 lawyers, paralegals and support staff.
According to the firm’s website, Edward Abenson specialises in conveyancing, property and business law. His client base ranges from individuals to small to medium sized businesses and limited companies of all sizes.
The most recently-published annual accounts for the firm, covering the year to 31 March 2022, show that the business had net assets of £43,800. These included £20,000 in cash reserves and £567,000 owed. The firm owed around £1.1m to creditors within one year.
Abenson was found by a court in 2015 to have acted in breach of undertaking and in breach of warranty after representing a client who carried out a fraud against a lender. There was no suggestion the solicitor was knowingly involved in the fraud.
Abenson was later fined £2,000 by the SRA for breaching an undertaking and failing to report the matter to the regulator.
