Matthew Arnold & Baldwin’s conversion to LLP
Technical Changes to the Provision of Services
Changes Made on 1 April 2009
Before 1 April 2009, Matthew Arnold & Baldwin was a general partnership constituted under the laws of England and Wales. In common with other professional services firms, Matthew Arnold & Baldwin converted to limited liability partnership (LLP) status under English law. We are now Matthew Arnold & Baldwin LLP. This change took effect on 1 April 2009. The business, assets and liabilities of Matthew Arnold & Baldwin (the partnership) were transferred to the LLP as of 1 April 2009. The partnership ceased to trade on 31 March 2009.
The practical effect of the change is simply that, from 1 April 2009, the client relationship will be with the new limited liability partnership. The new LLP is now responsible to clients for all new and current work, rather than Matthew Arnold & Baldwin (the partnership) or any of its partners.
Money held on client accounts remains in the same accounts which are now run by Matthew Arnold & Baldwin LLP. Information we hold about our clients has been transferred to Matthew Arnold & Baldwin LLP, which now controls and is responsible for that information and will use it to continue to operate and conduct its practice.
Reasons for change
The main reason for the changes is to enable us to trade with limited liability – we consider it is appropriate that it is only the firm’s assets that are at risk rather than the personal assets of our members (formerly partners). Converting to LLP status does not affect the delivery or quality of service that we provide and nor does it fundamentally change the way in which we operate or work with you. We remain committed to you and the service we provide. The conversion simply means that clients are being advised by a firm which has adopted a modern and transparent corporate structure. The interests of our clients will continue to come first.
Clients With Matters Current as at 1 April 2009
The business, assets and liabilities of Matthew Arnold & Baldwin (the partnership), which carried on the practice in England and Wales were transferred to Matthew Arnold & Baldwin LLP on 1 April 2009 (the ‘transfer date’). This paragraph is only relevant to you if you were a client of Matthew Arnold & Baldwin (the partnership) prior to the transfer date in respect of a matter then current. In that case Matthew Arnold & Baldwin’s outstanding services on all matters for you which were current at the transfer date are to be carried out by Matthew Arnold & Baldwin LLP. New terms and conditions of business apply to all work which Matthew Arnold & Baldwin LLP is instructed to carry out on or after the transfer date. Existing terms and conditions which had been agreed with Matthew Arnold & Baldwin (as a partnership) in relation to our role, the services you have asked us to provide, the team working for you, costs, and timescales (or any other terms which have not been superseded by the new terms) will continue to operate as set out in your original retainer letter with Matthew Arnold & Baldwin (the partnership) but will now be terms of your contract with Matthew Arnold & Baldwin LLP. For the avoidance of doubt, all aspects of your relationship going forward are now with Matthew Arnold & Baldwin LLP. You should have received a copy of the LLP’s terms and conditions of business. If you would like a further copy, please speak to your usual contact.
If you have any questions or concerns, please do not hesitate to speak to your usual contact or for general LLP enquiries please contact Richard Phillips on 01923 202020.