Acting for the SRA in another case arising from the collapse of Axiom, the Administrative Court considered the standards of integrity and competence expected of a solicitor.

The Court considered that solicitors who had applied the proceeds of a loan for purposes inconsistent with the terms of the written loan agreement had undermined public trust in the solicitor and the provision of legal services. The first respondent was also found to lack integrity.

The judgment of Holman J is being appealed by the respondents and the Court of Appeal will consider it alongside the SRA's appeal against the decision of Mr Justice Mostyn in Malins v SRA.