Re: Intervention into the Practice of Messrs Flora Lam & Co., Solicitors and Messr Li & Associates by the Law Society of Hong Kong
The Estate Agents Authority (“EAA”) was informed by the Law Society of Hong Kong (“Law Society”) that it had intervened (“Intervention”) into the practice of Messrs Flora Lam & Co., Solicitors and Messr Li & Associates (“Intervened Firms”) on 25 November 2021, as the Council of the Law Society had reason to suspect dishonesty on the part of some members of the Intervened Firms and it was satisfied that the Intervened Firms had allegedly committed breaches of the Solicitors’ Accounts Rules (Cap. 159F).
In case licensees are approached by clients of the Intervened Firms, they should explain to them about the Intervention and encourage them to contact the relevant intervention agents appointed by the Law Society who will advise them of the situation and the steps they need to take in relation to their matters including the need to engage alternative solicitors and how to lodge claims for return of money they have placed to any of the Intervened Firms.
In case clients have any difficulty to complete or proceed with the property transaction as originally scheduled due to the Intervention, licensees should encourage and assist their clients to communicate with the other party with a view to resolving the matter amicably (e.g. by mutually agreeing to a deferment of the transaction date to allow more time to work out a solution acceptable to all). However, as each case must be considered on its own facts, licensees should also advise their clients to seek independent legal advice, if necessary.
Licensees may read the press statement of the Law Society for more information regarding the above.
(8 December 2021)