A high-volume claims firm has said it is business as usual despite a winding up petition being brought by one of its creditors.
Premium Credit Limited filed the petition to wind up Cheshire firm Ryans Solicitors last week ahead of a hearing at the Rolls Building on 1 July.
Ryans Solicitors specialises in housing disrepair, undisclosed commissions and finance claims, as well as investor action group claims. It inherited thousands of cases from Quanta Law in 2023 when the north west firm collapsed in 2023.
Director Joseph Ryan, a solicitor for more than 25 years, said the matter is expected to be resolved shortly but he could not comment in detail until the petition has been formally dismissed.
‘We have remained in dialogue throughout with both Premium Credit and the Solicitors Regulation Authority (SRA) regarding the position,’ said Ryan. ‘The firm continues to trade and operate as normal. There has been no impact upon client monies, client account, or the firm’s ability to protect client funds, and no client money is at risk.’
According to Companies House, the accounts of Ryans Solicitors for 2024/25 are overdue. They were due by the end of last month. Ryan, who was also a director of Quanta Law, is the sole director of the company.
Abridged accounts for the year to August 2024 show that during the previous 12 months, the business had increased its headcount from five to 36. The company had net total assets of around £5,000.
Ryans Solicitors has one outstanding charge, dating back to 2022, to Dublin-based Claim Finance & Administration Co Limited, which trades as Nera Capital. The lender provides funding to law firms to allow them to pursue high-volume financial mis-selling, data breach, undisclosed commissions and personal injury claims.
