William Fry, like many other Irish law firms, has now been authorised by the Legal Services Regulatory Authority to operate as a limited liability partnership (LLP).  From 19 July 2021, William Fry is converting to an LLP, under the name William Fry LLP.  

LLP is a common business model for law firms internationally and was introduced into Irish law by the Legal Services Regulation Act 2015 (2015 Act).  From 19 July 2021, subject to certain exceptions, William Fry partners will not have personal liability for the debts, liabilities or obligations incurred in carrying on the business of the LLP.

However, this limited personal liability does not prevent or restrict the enforcement of any debt, liability or obligation of the LLP against the property of the LLP.

Our relationship with our clients, our aim to deliver outstanding client service and our contractual arrangements remain unaffected by our authorisation to operate as an LLP.  We continue as the same legal entity and we continue to maintain the same levels of professional indemnity insurance.  Except as modified by provisions of the 2015 Act dealing with LLPs, the law that applies to general partnerships (the Partnership Act 1890) continues to apply to us. 

The change will not affect service provider relationships or impact on the delivery of services to our clients.  

If you require further information on these changes please speak with your usual William Fry contact.