The Axiom Legal Financing Fund scandal continues to cause a ripple
effect in the legal industry.
Not long after Axiom was placed into receivership by the Cayman court following
serious allegations of mismanagement and malpractice, Tandem Law put its entire
workforce on notice that they were at risk of redundancy. Now we see Ashton Fox, the Preston based law
firm, has been acquired by a rival in a pre-pack deal following its own collapse
into administration.
Both law firms were recipients of significant funding from Axiom to
finance client group action litigation, and were plunged into crisis following
the Fund’s sudden closure.
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