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I'm not a corporate solicitor but I have seen, in my region, large firms (having gone on extensive acquisition sprees) going into administration/liquidation only for the assets to be bought back by the same controlling individuals who brought that firm to it's knees in the first place. They therefore inherit a firm (or certainly the assets) without the associated debts and the deferred payments due to the original firm partners.

Again, I don't know how these things would work with a listed company but it does strike me that there may be some sinister, pre-ordained policy at work here on the part of these large organisations which is not in the best interests of solicitors, clients, the Law Society/SRA generally.

Although I'm sure that there are serious questions about the S&G business model I think there may well be some "phoenix from the ashes" outcome here so I won't criticise their business acumen just yet!

I would be interested to know what others think...