All articles by James Dean – Page 32
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Lord Hunt consults on regulation
Lord Hunt of Wirral will today call for evidence from the entire legal profession as part of his Law Society-commissioned review of regulation.
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Liability fears over bad advice
Loopholes in partnership law could allow investors to sue individual hedge fund managers - and possibly partners in law firms - for giving bad investment advice, according to a former hedge fund chief operating officer. Jérôme de Lavenère Lussan, managing director of London law firm Lussan, ...
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No action against ‘touting’ libel firms
The Law Society and Solicitors Regulation Authority have said they will not act on an MP’s call in Parliament to investigate the alleged ‘active touting’ for business by libel law firms. Denis MacShane (pictured), Labour MP for Rotherham, made the allegation in December. He told an ...
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Clifford Chance signs best friends deal with Indian firm
Magic circle firm Clifford Chance has signed a ‘best friends’ deal with Indian law firm AZB and hinted at a possible future merger just days after an Indian court laid the foundations for liberalisation of the market. The best friends deal was signed with the intention ...
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Legal profession ‘snapshot’
An official quarterly report on the state of the legal profession is to be released for the first time this year, the Solicitors Regulation Authority revealed this week. The ‘snapshot’ will include the number of firms opening and closing and the number of solicitors practising ...
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'Name and shame' threat for top firms
Some of the biggest names on the international law scene are likely to figure in an investigation aimed at naming and shaming firms doing business in Burma, the Gazette can reveal. Pressure group Burma Campaign UK (BCUK) said this week that it is already ‘actively investigating’ ...
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PII insurers face standards scrutiny
Insurers and brokers offering professional indemnity insurance (PII) could be given a set of service standards following complaints over this year’s renewals. Because some brokers provided ‘bad customer service’ to solicitors, the Law Society’s PII crisis group will discuss ‘appropriate service levels’ with insurers and brokers ...
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Banks urged to increase cashflow
Law firms of all sizes are asking banks to provide them with secure pipelines of cash as the economy continues to deteriorate. In the coming weeks, Law Society President Paul Marsh and chief executive Des Hudson are to meet top executives at retail banks as well as the chief executive ...
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APIL slams Straw for attack on lawyers
The Association of Personal Injury Lawyers (APIL) has criticised comments about ‘ambulance-chasing’ lawyers, reportedly made by Justice Secretary Jack Straw. Denise Kitchener, APIL chief executive, accused Straw of taking ‘easy potshots’ at personal injury lawyers in an interview published in the Daily Mail. ...
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Legal 'super panels' for local councils
Three ‘super panels’ of law firms and barristers’ chambers are being formed to service about 30 local authorities across England, the Gazette can reveal. Birmingham City Council, the largest local authority in Europe, is tendering for a panel of around 25 firms on behalf of 17 ...
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Arbitration soars
Demand for arbitration has soared this year, figures from the London Court of International Arbitration reveal. The court has heard 198 cases to date – 61 more than last year and 66% more than the average over the previous four years. ...
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KBF court action threat
Key Business Finance (KBF), the legal lender currently in administration, has been threatened with legal action by 10 law firms over advance payments made to the company. The 10 firms feature in a list, compiled by administrators Ernst & Young last week, of 125 firms ...
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Insurance rethink
Staggered renewal dates for professional indemnity insurance (PII) and a return to the Solicitors Indemnity Fund (SIF) are being considered by the Law Society’s PII crisis group, as the number of firms in the assigned risks pool (ARP) looks set to register a six-fold increase. As ...
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Medico-legal collapse hits solicitors
Hundreds of medical reports for personal injury claims will be delayed following the collapse of one of the country’s largest medical reporting agencies. E-Reporting Group (ERG) fell into administration on 18 November, leaving 9,000 doctors unpaid for completed reports and pending reports due to be sent ...
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Sharia 'could have averted crisis'
The use of Sharia ethics might have helped avert the current financial crisis, the head of a legal think-tank said this week. ‘The continuing turmoil has cast Islamic finance centre stage,’ Malik Dahlan, principal and chief lawyer at Institution Quraysh, told a London seminar. ‘Were ...
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Kickback law to get reboot
Individuals who bribe public officials, or companies that negligently fail to prevent bribery, will be guilty of new offences if Law Commission proposals become legislation. In Reforming Bribery, published today, the commission recommends replacing a ‘morass’ of bribery laws with two general offences of giving bribes ...
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Laundering reports fall by nearly half
The Serious Organised Crime Agency (SOCA) wants solicitors to make more and better reports on suspected money laundering over the next year, after reports submitted to the agency fell by more than 40%. In its second annual report, SOCA says it will encourage organisations most ...
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Crunch skips court
The credit crunch has yet to create a wave of commercial litigation, according to latest Ministry of Justice statistics. Although the number of commercial cases launched in the High Court hit 64,046 in 2007 – the highest for seven years – this represents only a 1.6% ...
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Richard Alderman to shake up the Serious Fraud Office
The Serious Fraud Office (SFO) is trying to shed its reputation as unwieldy, expensive and blundering. In doing so, it is about to undertake the difficult task of cutting the amount it spends on barristers and train staff to do the advocacy work instead. This ...
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FTSE 100 to have say in review
The UK’s biggest companies will take part in Lord Hunt of Wirral’s corporate liaison group, the members of which can now be revealed by the Gazette. In-house counsel at FTSE 100 companies will be represented by Peter Maynard, chair of the GC100 and company secretary at ...