The Legal Services Regulatory Authority (LSRA) have authorised Jacob and Twomey Solicitors to operate as a Limited Liability Partnership (LLP) with effect from 25 May 2020.
LLPs have been a significant feature in the legal landscape in the UK and elsewhere for many years. The Legal Services Regulation Act 2015 provided for the possibility of the LSRA authorising firms to operate as LLPs in Ireland. However, the relevant section of the Act (section 125) was not brought into force until late 2019. More than 100 firms around Ireland have since applied for and obtained LLP authorisations from the LSRA.
In accordance with the 2015 Act, from 25 May 2020 "a partner in the LLP has no personal liability for any debts, liabilities or obligations which are incurred for the purpose of carrying on the business of the LLP (whether these are liabilities of the LLP, of himself or herself, of another partner or partners in the LLP or of any employee, agent or representative of the LLP) and however such liability may arise".
Clients and business contacts are requested to note that correspondence being issued to us should now be addressed to "Jacob and Twomey Solicitors LLP".