All articles by John Hyde – Page 359
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400 jobs saved as Cobbetts deal goes through
All training contracts will be honoured and more than 400 jobs saved at defunct firm Cobbetts, administrators today confirmed.
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MPs censure pre-pack deals as Cobbetts takeover goes ahead
‘Pre-pack’ deals like the one that this week saved defunct law firm Cobbetts face new scrutiny, following a critical report by MPs.
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Peers pursue low-cost arbitration service
A group of four peers will this week make the case for an arbitration service for defamation cases. In an amendment to the Defamation Bill to be debated tomorrow, the Lords want to follow the recommendation of the Leveson report and push forward a low-cost arbitration ...
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Major CMCs win argument on MoJ fees
Large claims management companies (CMCs) have convinced the government to reinstate a cap on the fees they have to pay for regulation. The Ministry of Justice, which regulates CMCs, had planned to remove the annual cap of £30,000 for companies with contractual relationships with clients. ...
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Firms sign up to beat fee ban
A claims management firm says it has signed up almost 100 legal practices to a business model designed to sidestep the impending referral fee ban. Chris Georgiou, managing director of Accidents Direct, said he has spent 18 months refining a panel scheme which he says will ...
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Exceptional case proves Jackson rule
Litigation lawyers should ‘ignore Jackson at their peril’ regardless of a landmark costs ruling that appeared to undermine imminent reforms, a solicitor in the case said this week. James Heath, from London firm Taylor Hampton Solicitors, warned firms not to be complacent about costs despite ...
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Warnings follow Cobbetts collapse
The demise of top-100 firm Cobbetts should serve as a wake-up call for legal practices with outdated structures and mounting bank debts, legal sector finance experts said this week.
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News Focus: Cobbetts
As the Gazette went to press, it was unclear whether a drinks party at national firm Cobbetts was going ahead as planned. In the uncertainty following the firm’s acquisition amid financial troubles, the atmosphere at the Birmingham event would hardly have been conducive to ‘a wind-down and a few celebratory ...
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A quarter of judges escape Grayling’s pension cuts
Judges within 10 years of retirement will be shielded from reform of their pension scheme, justice secretary Chris Grayling today confirmed. Those who were 10 years, or less, away from retirement at 1 April, 2012 – around 25% of the total profession – will continue in their current schemes and ...
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Mid-sized firms feel the pinch in Scotland
Scottish firms are emptying their bank balances as partners face up to reduced profits, a survey revealed today. Research commissioned by the Law Society of Scotland found that median profit was £64,000 per partner in 2012, £7,000 down on the previous year. ...
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Would you mourn if your firm was no more?
Just how much attachment do you have to your firm beyond an email address and headed note paper? Do you feel a surge of loyalty every time you walk past the water feature in reception? Do you relish rivals’ struggles and recoil in horror when your ...
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Small-claims revamp may hit portal
The future of the RTA Portal will become clearer on Friday when a protocol, forms and rules for a new small-claims system are finalised at a meeting of the Civil Procedure Rule Committee. The protocol will enable the system to deal with claims up to £25,000, ...
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‘Limited trust’ undermines SRA whistleblower plan - Society
Whistleblowers in the legal profession do not trust the Solicitors Regulation Authority enough to agree to report misconduct, the Law Society said today. The Society said there was no pressing need for a cooperation policy to encourage people to report colleagues for wrongdoing. ...
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MoJ reveals £600m in court fines are unpaid
The government failed to make any significant impression on the £600m of outstanding debt from court fines during the latest financial year. Helen Grant, justice minister, told parliament this month that outstanding impositions stood at £1.8bn at the end of April 2012. A Ministry of ...
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Cobbetts set to go into administration
National firm Cobbetts has announced it is seeking protection from creditors as a buyer is sought for the business.
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Lyons rebuts Admiral takeover reports
Personal injury firm Lyons Davidson has flatly denied press reports that it is in takeover talks with insurance giant Admiral. An article in the Mail on Sunday claimed that British insurer Admiral planned to buy the national firm, which last year became an alternative business structure, ...
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Civil justice advisers condemn PI fixed fees as ‘unrealistic’
Fixed-fee proposals for personal injury work are unrealistic and should wait until at least 2014, the Civil Justice Council (CJC) has advised. The independent advisory body chaired by the master of the rolls has told the government it should hold back from new costs plans before ...
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Pinsent Masons boosts outsourcing trend with Krakow deal
City firm Pinsent Masons has become the latest law practice to outsource key services by sending documents to be reviewed in Poland. The firm used Capita’s outsourced legal services operation in Krakow to review aspects of a large dispute. Both parties had ...
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Texas considers plan to open borders to foreigners
The US state of Texas is considering a plan to open its borders to foreign lawyers and compete with New York for the best international talent.
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Call for care failings disclosure laws
NHS trusts and their lawyers should be forced by law to reveal when care providers have made serious mistakes, campaigners have said in the run-up to the report of the inquiry into alleged failings at Mid Staffordshire NHS Foundation Trust. Peter Walsh, chief executive of ...