Two claims firms based in Liverpool have been placed into administration in the space of a week, as the sector continues to face a fall in revenues. 

According to a London Gazette notice, Next Gen Solicitors Limited was placed into the hands of insolvency specialists Quantuma on 13 October. Andrew Lawrence Hosking and Sean Bucknall, who have handled several administrations involving law firms, are jointly appointed.

Next Gen Solicitors, which is regulated by the Solicitors Regulation Authority, specialised in mis-sold pension, PPI, housing disrepair and tenancy deposit claims. The firm offered its services on a no win-no fee basis and claimed to be a ‘highly experienced team of legal experts and UK solicitors’.

It was founded in 2017 and has around 16 staff members, led by directors Michael Fong and Karen Smith, Unaudited accounts for the year ending 28 February 2021 had a net debt of more than £250,000, with creditors owed £624,000 within a year and having total assets of £367,000.

The London Gazette also states that MST Legal, based in the Cotton Exchange building, filed for administration on Wednesday and its affairs are now being handled by Opus Restructuring LLP.

The personal injury firm was incorporated in 2015 and according to its most recent accounts employed seven people. Its directors are solicitor Tarek Uddin and litigation managers Michael Hughes and Scott Bouch.

No reasons have been given for either firm entering administration, and it is not clear at this stage whether a buyer has been found for their work in progress.

 

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