PHB donates unclaimed balances to the Ellen McArthur Cancer Trust
Payne Hicks Beach, in accordance with the SRA Rules 2011, has donated unclaimed outstanding client balances totalling £145.92 to the firm’s charity, the Ellen MacArthur Cancer Trust ("EMCT").
In accordance with the Solicitors Regulations Authority`s (SRA) Rules 2011, PHB wanted to clear their current backlog of unclaimed client balances. After conducting due diligence, we contacted former clients and duly returned any claimed funds. We were given the go-ahead by the SRA to donate the remainder of the balances to charity. We collated the leftover funds and donated them to the EMCT and hope that PHB’s donation will encourage other law firms to use unclaimed client balance funds in a similar way.
Unclaimed balances are common in our profession and can accumulate over the years. We were pleased to clear the backlog of unclaimed funds in such a positive way and to donate the funds to the firm’s charity, the EMCT.