Jurisdiction(s):
United Kingdom

Key definition

Monitor definition

What does Monitor mean? In corporate insolvency practice, a monitor is the licensed insolvency practitioner who oversees a company’s moratorium with the aim of facilitating a rescue as a going concern. This is a statutory office created by the Corporate Insolvency and Governance Act 2020 and set out in Part A1 of the Insolvency Act 1986 (England & Wales and Scotland), with broadly equivalent provisions in Northern Ireland under the Insolvency (Northern Ireland) Order 1989. Key features include: the monitor’s continuing duty to assess whether rescue as a going concern remains likely; power to require information; and obligations to file notices,...

England and Wales Solicitors' Firm Closure Plan: SRA Notifications, Client Money, Confidentiality, Undertakings, Records, Insurance, Facilities and Post-Closure Steps

Published by a LexisNexis Practice Compliance expert

Precedents

1 Introduction and purpose

1.1 We maintain robust arrangements designed to recognise, oversee and control every material risk to our business, including any that could reasonably stem from our connected practices.
1.2 We continually assess and review our financial resilience and the ongoing sustainability of the business.
1.3 On becoming aware that the firm will cease to practise, we are under a regulatory obligation to carry out a clear, timely and orderly wind‑down of operations, and to notify the Solicitors Regulation Authority (SRA) prior to closure.
1.4 We are likewise obliged to safeguard client confidentiality, and that obligation endures even after a client’s matter has fully finished.
1.5 Shutting a practice also entails a range of further actions and demands careful, proper advance planning.
1.6 This plan:
1.6.1 aims to ensure we undertake all necessary and required steps to close the firm;
1.6.2 aims to ensure clients’ confidentiality is preserved throughout the closure process and thereafter; and
1.6.3 sets out procedures and practical guidance for relevant staff to follow.

2 Responsibility

2.1 Our [ partners OR members OR directors OR other ] therefore hold ultimate responsibility for this plan...

To view the latest version of this document and thousands of others like it, sign-in with LexisNexis or register for a free trial.

DOWNLOAD THIS DOCUMENT

Web page updated on 22/05/2026

Popular documents

Using the Judicial College Guidelines to assess general damages in personal injury claims

When evaluating a general damages claim, the practitioner ought initially to refer to the Judicial College Guidelines (JCG)...

Tomlin orders in England and Wales: CPR guidance on drafting, confidentiality, approval, variation, enforcement, limitation, CCA issues, court-specific requirements, sample wording and precedents

This Practice Note This Practice Note reviews mechanisms used in settling litigation. A Tomlin order consists of a consent order paired with a schedule. It operates to stay proceedings on terms that have been agreed. The provisions contained in the schedule may remain confidential. This Practice Note describes the scope of confidentiality attaching to the schedule and sets out how it differs from a standard consent order. Sample wording for a Tomlin order is included, alongside links to precedents, as well as guidance on court approval. It also addresses varying, setting aside and enforcing a Tomlin order, including the considerations the court will take into account when handling applications for each. Further guidance is provided on interpreting and applying the relevant provisions of the CPR; however, some courts and divisions impose very specific requirements for both drafting and approval, and for approaching the schedule and confidentiality issues. Accordingly, you must consider the particular rules and court guide provisions in the forum where your claim is proceeding when drawing up the Tomlin order...

Precedent: Deed of Surrender of Lease with Optional Premium, Settlement and Release, Landlord, Mortgagee and Guarantor Consents, Reimbursement and HM Land Registry Provisions (England and Wales)

Date [ date ] Parties [ name of Landlord ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Landlord) [ name of Tenant ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Tenant) [ [ name of Guarantor ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Guarantor) ] [ [ name of Mortgagee ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Mortgagee) ] Definitions Within this Deed, the terms below shall be interpreted as follows: [ Annual Rent • the annual sum reserved under the Lease; ] [ Insurance Rent • the Tenant’s share of the Landlord’s costs of insuring the Property (as set out in the Lease); ] Lease • the lease of the Property dated [ date ], entered into between (1) [ the Landlord OR [ name ...

Precedent Statutory Declaration: Standard Wording under the Statutory Declarations Act 1835

I, [ name ], of [ address ], solemnly and sincerely state that: [ Matters to be verified, set out in numbered paragraphs ] I make this solemn statement in good conscience, believing it to be true, and pursuant to the provisions of the Statutory Declarations Act 1835. DECLARED at [ details ] this [ day ] day of [ month and year ] Before me ................................................................................ [ signature of the person before whom the declaration is made ] A [ commissioner for oaths OR [ solicitor OR [ insert other qualification ] ] authorised to administer oaths ]...