Many jobs to go as Pagan Osborne enters administration

More than half the staff of Fife and Edinburgh legal practice Pagan Osborne are likely to be made redundant after the firm entered administration late on Friday.

Assets, goodwill and work in progress of the respected firm, which traces its origins back more than 250 years, have been acquired by leading Tayside practice Thorntons following the appointment of Tom MacLennan and Iain Fraser, partners with FRP Advisory, as joint administrators of Pagan Osborne Ltd.

The deal, for an undisclosed sum, will see the immediate transfer of 10 Pagan Osborne partners and 113 staff to Thorntons. However, a minimum 45-day redundancy consultation period will start this coming week, with Pagan Osborne’s offices in Edinburgh, Cupar and St Andrews set to close. All staff in those offices will be advised that they are at risk of redundancy pending a review of employment requirements. The Pagan Osborne office in Anstruther will be retained and rebranded as Thorntons, although some redundancies will be required there as well. Thorntons plans to save around 50 jobs.

Craig Nicol, joint managing partner of Thorntons, commented: “Pagan Osborne was a longstanding, highly respected firm with a high profile in Fife and Edinburgh. Our priority will be to provide a seamless transition for clients and to preserve the maximum number of jobs. We will be in contact with all Pagan Osborne clients imminently and I would seek to reassure them that they will receive continuity of service from the newly-enlarged Thorntons team for their legal or property matters in the coming days and weeks.”

Pagan Osborne can be traced back more than 250 years ago when the Grace family founded a law firm in St Andrews, subsequently becoming known as Pagan Osborne & Grace. The firm subsequently had its main office in Cupar while also opening in Anstruther and Edfinburgh.

Its chief executive, Alistair Morris, was President of the Law Society of Scotland in 2014-15.

Lorna Jack, chief executive of the Society, said the Society was "very sad" to hear the news of the administration. "It represents the loss of a long-established and highly regarded Scottish law firm operating across Fife and Edinburgh", she commented.

“There has been ongoing, significant change within the legal services sector which, combined with a challenging economic environment, continues to have an impact on law firms.

“We will work with both firms to help ensure a smooth transfer of and provide advice and support for our members. Pagan Osborne clients should continue to contact their solicitor about any ongoing business or transactions.”

The Society's website contains information about professional support for solicitors and for trainee solicitors affected by the administration.