In unprecedented times where the economic impact of the Coronavirus is destroying many organisations and causing many others to retrench and review their costs of trade, 360 Law Group continues to deliver innovation and evolution in remote law services.
In response to a request from a major insolvency practitioner to create a method of enabling a Solicitor to witness Members Voluntary Liquidation (“MVL”) documents so that the Insolvency Practitioners could continue to assist clients in these stressful times, 360 Law Group, along with a partnering New Zealand software house, developed its V-Sign – Video and Electronic Signature Solution. Created quickly to react to current economic times, the solution allows statutory documents to be signed by Insolvency Practitioners clients’ and witnessed by 360 Law Group’s Solicitors remotely.
Furthermore, the solution allows Solicitors to: i) hold video calls; ii) validate identity documents; and iii) digitally sign MVL documents in the same session. The sessions are recorded, and a wav file is then made available to the Insolvency Practitioner and their clients along with the signed and witnessed document.
Though the system was initially developed for Insolvency Practitioners, any statutory documents may be signed, with the exception of a deed.
Shortly after the service was launched, Companies House officially announced that they will accept “Declarations of Solvency sworn via video”.
Robert Taylor, CEO & General Counsel of 360 Law Group commented:
“This is a further example of our innovative approach and continued drive to make law more cost effective and accessible for businesses the world over. In these unprecedented economic circumstances, where meetings cannot take place, we can help by delivering remote law services to businesses. Our recent work will reshape the future of an industry which traditionally has been driven by face-to-face meetings.”