Armstrong Teasdale Ltd, the UK arm of the US law firm, is facing closure after Quantuma was appointed as joint administrators. The firm has been struggling financially and has experienced significant staff departures.
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| Quantuma, a leading restructuring firm, has been appointed as joint administrators of Armstrong Teasdale Ltd, the UK arm of the US-based law firm. The appointment follows a series of departures that impacted the UK firm's profitability. Image Courtesy: Quantuma Site |
London, UK - October 7, 2024:
Quantuma, a leading advisory firm specializing in restructuring and insolvency, has been appointed as joint administrators for Armstrong Teasdale Ltd, the UK subsidiary of the US-based law firm, Armstrong Teasdale LLP. The appointment comes after a series of senior departures and financial difficulties for the UK operations.
The UK subsidiary, established in 2021 through the acquisition of Kerman Legal Services Limited, employed 57 people. Unfortunately, most of these employees have already found new roles at other firms, and the remaining staff have been made redundant. A small team has been retained by Quantuma to assist with the winding-down process.
Samantha Palmer, a partner at Child & Child, has been appointed as the client protective Solicitor Manager to oversee regulatory matters and ensure the safe transfer of client files and funds to alternative firms. Quantuma has a strong track record in handling similar cases, having previously overseen the administrations of several high-profile law firms in the UK.
Sean Bucknall, managing director and joint administrator at Quantuma, stated that the UK operations of Armstrong Teasdale had been profitable until recently but were severely impacted by the departures of key team members. This ultimately led to the decision to wind down the UK operations.
Samantha Palmer emphasized the importance of protecting client interests throughout the closure process and expressed Child & Child's commitment to providing regulatory guidance and support.
Quantuma, with its extensive experience in restructuring and insolvency, will now focus on managing the affairs of Armstrong Teasdale Ltd, ensuring a compliant and orderly closure. The firm's cross-border expertise and deep understanding of the legal industry will be crucial in navigating this complex situation.