The Law Society is embroiled in a rent dispute with the landlord of its premises, Tynwald heard.
A question was raised with acting Attorney General John Quinn about the solvency of the Law Society by Douglas North MHK John Houghton.
Mr Quinn replied that having considered the last audited accounts and made inquiries with the president of the Law Society, he had no reason ‘whatsoever’ to the believe the organisation to be insolvent.
The acting Attorney General added: ‘I am aware that there have been publicised in the press claims made against the society by their landlord in respect of non-payment of rent.
‘I am informed this non-payment arose as a result of an on-going dispute concerning the terms of the tenancy of the Law Society’s premises.’
Mr Quinn said that dispute is the subject of on-going litigation and so is sub-judice.
He added the president of the Society had informed him payment of rent is up to date in an amount it considers is a fair market value.