Conversion to LLP Status
In common with other professional services firms, Godwins has converted to limited liability partnership (LLP) status.This change took effect on 1st April 2015. Please note the following information about the conversion.
What will our name be?
As from 1st April 2015 our name will be Godwins Solicitors LLP and any reference to Godwins Solicitors or Godwins shall mean Godwins Solicitors LLP.
Why are we converting to an LLP?
The principal reason is to ensure that Godwins trades with limited liability. In England a limited liability partnership is governed by the Limited Liability Partnership Act 2000, and is a corporate body which has members rather than partners or shareholders. The LLP itself is liable for any debts of the business and not the individual members. We also recognise that we need to operate our business in a modern and efficient way and a more corporate structure will help us in our objectives.
Will the fact that we are an LLP affect our clients?
No.We will continue to provide a quality service to our clients. Our team structures will remain the same as will our quality systems.As a consequence of the transfer of the business of the former Godwins partnership to the LLP, the LLP will accept all the rights and obligations of the former partnership performed after 1st April 2015. Accordingly, all client files and confidential information have been transferred to the LLP. All clients who deal with the LLP after 1st April 2015 will be deemed to have consented to this process. This is a technical change to the provision of our services, but will not affect the way in which we provide services on a day to day basis. Godwins Solicitors LLP is regulated by the Solicitors Regulation Authority under reference number 619783.
Will we still have Partners?
No.We will no longer use the term “Partners”. The owners of the LLP will be referred to as “Members”.
Will we still have professional indemnity insurance?
Yes. We will continue to have the same level of cover as that which was in place for the former partnership.