Shropshire law firm plagued by financial trouble is shut down by regulator
A county law firm has been shut down and will be investigated after running into financial trouble.
Terry Jones Solicitors, now owned by crisis-hit Metamorph Group, has been closed with immediate effect by the Solicitors Regulation Authority and had its bank accounts frozen.
The SRA said documents and money - including clients' cash - has been seized. Another agent has been appointed to deal with cases held by the Shropshire firm and will get to them in order of urgency. It is understood some staff from Metamorph-owned firms have not been paid since October.
Terry Jones Solicitors, which has offices in Shrewsbury and Telford, has provided legal representation in criminal cases at the county's crown and magistrates courts for many years, as well as dealing with civil matters. The firm was taken over by Metamorph in 2018, but has still been trading under the Terry Jones name.
The consolidator firm, which launched in 2015 and set a target of 60 high street acquisitions in five years, has been rocked by resignations, winding-up orders and offices closures.
A Solicitors Regulation Authority spokesman said: "The SRA will now investigate further the issues raised that have led to this intervention to see if any additional action is necessary. At this stage of the SRA's work, no further details can be disclosed.
"It is only if further action become necessary that any information is released into the public domain. There is no timescale for how long this work will take.
"Further action against solicitors could either be a sanction carried out by the SRA, and could be as severe as a reprimand or a £2,000 fine. If it is decided that a stiffer punishment is required, the SRA will prosecute the matter at the independent Solicitors Disciplinary Tribunal (SDT).
"The SDT can levy unlimited fines and prevent solicitors from working either by suspending them or removing them from the profession altogether."
He added: "The interventions have been necessary to protect the interests of clients and former clients of those firms.
"An intervention means the SRA has closed a firm with immediate effect. It will stop the firm from operating, take possession of all documents and papers held by the firm, and take possession of all money held by the firm (including clients' money). It is not responsible towards employees or trade creditors of firms that it has intervened in.
"The SRA has appointed an agent to deal with all matters currently held by these firms. The agent will assess all on-going matters and deal with those of greatest need first. The SRA's archive team will take control of all documents held by the firm.
"Clients of the firms do not need to contact either the agent or the SRA at this time. If anyone does have a query, however, they can contact the agent, which is still John Owen of Gordons LLP, by calling 0113 227 2117 or emailing metamorph@gordonsllp.com."
