SRA successor practice: scenarios, due diligence, PII and run-off checklist for law firm mergers, acquisitions, closures and transfers (England and Wales)
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For law firms, whether you are considering a merger, taking over another practice, disposing of the business or winding it up, the successor practice provisions are almost invariably engaged in such scenarios. You must give careful thought to these rules and their effect on the deal, at every stage, as outcomes are frequently truly surprising, costly and, in the end, can pose intolerable risks for either party or, indeed, both. Grasping the ramifications of your proposals is essential. When the parties collaborate, it is often feasible to reduce exposures enough and in good time to allow a deal to move forward that might otherwise collapse. As ever, knowledge is power. Seldom will buying any element of a legal practice not result in the purchaser becoming a successor practice—you are generally safest to presume that is so. Section 1 aims to outline circumstances in which a successor practice is liable to arise. If you think your arrangement can sidestep creating a successor practice, for example by taking on client matters only, obtain advice, because the tiniest misstep can still leave you as the successor practice. Where you accept that a successor practice will result from the intended deal, sections 2...
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Web page updated on 20/05/2026
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