Merger of a sole principal practice and a partnership practice

Scenario

FGX & Co., a sole principal practice (Principal Mr HZ) and QRS Solicitors LLP (Partners, Ms GL & Mr SS) have decided to merge their firms. Mr HZ will join the merged firm as a partner which will operate under the style & title HZQR LLP.   â€¯ 

Note, all matters relating to the agreement between the parties for the merger is a matter of contract between them.  

 Both firms contact the Law Society (firms@lawsociety.ie) and advise the Law Society of their plans. The Law Society responds to both parties with its requirements.  

Requirements

To achieve the desired outcomes, the sole principal practice FGX & Co. must cease following the merger. Since QRS Solicitors LLP is already a partnership firm, Mr HZ joining the firm as a partner will not trigger a firm change of structure.   

Cessation requirements – to be confirmed/completed by the principal of FGX & CO (Mr HZ) 

  1. Confirm the date of the merger. This will be the date directly after the cessation date of FGX & Co (e.g. FGX & Co. ceases on 30 June, and the merged firm HZQR Solicitors LLP commences on 1 July). 
  2. Confirm that all files (including closed files) from your sole principal practice are transferring to HZQR Solicitors LLP. 
  3. Confirm that all client monies from your sole principal practice are transferring to HZQR Solicitors LLP. 
  4. Confirm that the merged firm HZQR Solicitors LLP is a succeeding practice to your sole principal practice. Note, under the succeeding practice rules, a succeeding practice is one that is conducted by a partnership in which the sole practitioner conducting the preceding practice is a partner and where no other person has been held out as a successor to the preceding practice  
  5. File a closing accountant’s report to the date your existing sole principal practice last received, held, controlled or paid clients’ monies (i.e. the date of cessation). This report should be filed with the Law Society within three months following the date of cessation. All queries relating to this, or other financial matters should be directed to the Law Society’s Financial Regulation section (financialregulation@lawsociety.ie). 

Requirements for HZQR Solicitors LLP to be confirmed/completed by one of the partners of the firm (Mr HZ, Ms GL or Mr SS)

  1. Confirm the date of the merger. 
  2. Confirm that all files (including closed files) from FGX & Co. transferred to the merged firm HZQR Solicitors LLP. 
  3. Confirm that all client monies from FGX & Co. transferred to the merged firm HZQR Solicitors LLP.
  4. Confirm that HZQR Solicitors LLP is the succeeding practice to the firm FGX & Co and provide confirmation from your PII broker/provider that they are aware of this, and cover is being provided on this basis.  
  5. Provide up-to-date email addresses for all solicitors with the merged firm. 
  6. Forward a copy of your headed notepaper and ensure it is in accordance with the provisions of . 

Once in receipt of the required confirmations and documentation, the Law Society will proceed to cease the sole principal practice FGX & Co. The existing firm number will become a legacy firm number. The existing firm number for HZQR Solicitors LLP will remain unchanged although the firm name has changed. The firm HZQR Solicitors LLP will be noted on the Law Society’s records as the succeeding practice to FGX & Co.  

Note

The partners of the merged firm HZQR Solicitors LLP have a responsibility to contact the Legal Services Regulatory Authority () and advise them that the authorised firm is ceasing or that there has been a change to the composition of the partnership and that the firm is operating under a new name.