2 July 2009
Former Homes Overseas legal columnist John Howell is to close his International Law Partnership firm following a collapse in income, according to Overseas Property Professional (OPP).
The UK-based law firm, which specialised in cross-border legal issues and international property, says that it will start to wind-up from 10 July 2009.
Howell told OPP that his company had written off in excess of £500,000 of anticipated income so far this year, while actual income had fallen by almost 75%. He also said that he had subsidised the firm with over £100,000 of his own money over the last year.
“Over the last few months our clients – and, in particular, our developer clients – have been going bust at a catastrophic rate and many of our other clients are unwilling or unable to pay their bills,” said Howell. “We have, therefore and with great regret, decided to close the business.”
See Also: International Law Partnership, John Howell, Legal, Marc Da-Silva
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