Clients of one of the oldest legal practices in Blackpool, Ascroft Whiteside which has gone into administration, are being reassured their funds are safe .
Rosalind Hilton of Blackpool insolvency practitioners Adcroft Hilton has been appointed as administrator and said it was sad to see the end of a long-established firm with a history dating back to 1876.
The Highfield Road firm had been struggling financially and although directors had tried to find investment or merge with another firm, they had failed. The company operated a separate account for client funds, and these funds had been protected, and will be dispersed in accordance to clients’ instructions.
Mrs Hilton said: “In such a case as this, solicitors and directors are governed by strict rules to protect client monies, and the directors have confirmed that these regulations have been followed.”
She added that procedures were in place to allow the transfer of funds in accordance with client instructions, but it may take some time to arrange. While clients’ money was safely segregated from the company accounts, there had been initial delays due to red tape with the bank holding these funds.
An Ascroft Whiteside spokesman said: “The directors want to once again assure our clients that there is no risk to client money, wills or deeds and that all clients will be contacted in due course”
All Ascroft Whiteside’s open client files have been transferred to Butterworths Solicitors, in Carlisle, and for client queries call 01228 593939. Supplier queries should go to firstname.lastname@example.org