With effect from 1 April 2008 the business of Magrath & Co will be transferred to Magrath LLP. 

This transfer reflects our decision to adopt a business structure more suited to a modern legal practice, but otherwise it will have little or no impact on the day to day service we provide to our clients. 

Magrath LLP is registered in England and Wales with registration number OC335131 and has been incorporated under the provisions of the Limited Liability Partnership Act 2000.  The Partners of Magrath & Co as at 31 March 2008 will become Members of Magrath LLP (and will continue to be referred to as Partners), and Magrath LLP will simply continue with any work on all current matters. 

Please ensure that after 1 April 2008 all correspondence, cheques and money transfers are addressed to Magrath LLP.  Our bank account number and sort code remains the same and our email addresses will not change.

The transfer of business to Magrath LLP will not result in any interruption in the service to clients.

 

LLP Conversion - Frequently Asked Questions

 

Conversion of Magrath & Co to Magrath LLP

With effect from 1 April 2008 Magrath & Co will transfer its practice to a limited liability partnership called Magrath LLP.

What is a limited liability partnership (LLP)?

The Limited Liability Partnership Act 2000 introduced the concept of the LLP in 2001.  An LLP is a corporate entity but with similar organisational flexibility to a general partnership - it is appropriate to regard it as a modified form of company. 

An LLP has members rather than partners or shareholders and is a separate legal entity with rights and liabilities distinct from those of its members.  Members of an LLP are normally only liable for the debts of the LLP to the extent of their capital contribution to the LLP.

Where is Magrath LLP Incorporated?

Magrath LLP is registered in England and Wales under registration number OC335131 under the provision of a Limited Liability Partnership Act 2000. 

Why convert to an LLP?

LLP status appears to be the way forward for law firms operating in a global market place and is likely to be the way in which most firms operate in future.  An LLP provides more protection for its members' personal non business related assets.  The threat of unlimited personal liability can be an unattractive risk to partners and consequently, we believe that conversion to an LLP will enable us to continue to attract and retain the most talented people. 

How is Magrath LLP Regulated?

Magrath LLP is regulated by the Solicitors Regulation Authority of England and Wales in the same way that Magrath & Co was regulated. 

As a Client, will I See Any Changes.

No.  The conversion will not affect the way in which we act for clients and there will be no interruption in our service to you.  Magrath & Co's general partnership has assigned the benefit of contracts and client engagements, to Magrath LLP. You will continue to receive the highest level of client service.

Has the Firm's Level of Professional Indemnity Insurance Changed as a Result of the Conversion? 

No. The nature and level of our insurance cover remains as it was for Magrath & Co.

Do You Still Have Partners?

Legally an LLP does not have partners as a general partnership does - an LLP has members.  However, in common with other professional service firms, and with most other law firms that have converted to LLP status, we will continue to use the word "partner" to refer to a member of Magrath LLP. 

As a Supplier, What Changes Will I See?

Magrath LLP has assumed all of the rights and obligations of the contractual relationships entered into by Magrath & Co.  Magrath LLP will settle any amounts due by Magrath & Co.

What Do I Do If I Have Any More Questions? 

If you have further questions or concerns regarding the conversion from Magrath & Co to Magrath LLP, please speak with a partner or other contact that you usually deal with.