The process of formally winding up the PM Law network has begun amid reports that local police are looking into potential fraud at the collapsed Sheffield group. Liquidators have been appointed to a number of constituent firms, Companies Housing filings show.
PM Law was an umbrella for 11 firms and more than 30 trading names, with 24 offices from Kent to Cumbria employing over 600 staff.
A statement of affairs for PM Law Ltd was signed off on 4 March by liquidator David Wilson of Leeds insolvency practice DFW. This company went down owing £3.6m to creditors, including nearly £3m to Virgin Bank. HMRC is owed over £279,000 and Interbay, a specialist lender, over £54,000.
The same bank debt is recorded in statements of affairs for associate companies PM Law (Specialist Claims Ltd) and Proddow Mackay (Conveyancing) Ltd.
Meanwhile, it has been reported today that South Yorkshire Police is looking into potential fraud at the group. According to the Sheffield Star, the force has received a referral from the City of London Police-run service Report Fraud. City of London Police is the national policing lead for economic crime.
A South Yorkshire force spokesperson said: 'This is currently under review by our economic crime unit to determine next steps and the most appropriate agency to take this forward.'
