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We hope it will survive because there are a lot of good people who were members of long-established and respected firms there.

But whatever happens, I do not presently see any particular reason to fear that this might cost the contributors to the Compensation Fund a lot of money, or indeed any money. First there has to be a liability. Secondly, the Fund is there, broadly, to cover dishonesty (but not generally if there is at least one honest principal who would be entitled to indemnity from insurers) or failure to account. See SRA Compensation Fund Rules 2011 http://goo.gl/rfzyW1.

In answer to Anonymous 29 March 2016 10:48 pm as to the source of the article quoted by Anonymous 29 March 2016 07:34 pm (not me), the article appears in The Australian.