Latest news – Page 764
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News
Big four buoy partner profits in face of declining revenues
The UK’s quartet of billion-pound law firms have maintained healthy profits per equity partner (PEP) in the face of declining revenues, their financial results have shown. Industry observers said the firms had adopted a sensible strategy of cutting partners to bolster average partner earnings, enabling them ...
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Small firms will be ‘resilient’ in the face of ABSs
Small law firms are likely to be ‘resilient’ to the impact of alternative business structures, research has suggested. A report by consultants Oxera, commissioned by the Law Society, also concluded that ABSs are unlikely to be detrimental to geographic access to justice for consumers. ...
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ABI demands tougher indemnity terms
Insurers must be given better access to solicitors’ disciplinary histories before granting them indemnity cover, the Association of British Insurers (ABI) said this week. Outlining proposals for reform of the professional indemnity insurance (PII) market submitted to the Solicitors Regulation Authority, the ABI said insurers want ...
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Simon Young
Council members and staff at the Law Society were greatly saddened to learn of the untimely death on 3 July of former council member Simon Young. Simon was elected to the council in 2001 to represent the Society’s Law Management Section, which he did for ...
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AWS extends awards deadline
The deadline for entering the Association of Women Solicitors awards 2010 has been extended by one week to Friday 23 July. The seven categories are: best woman solicitor retaining and developing legal talent; and best woman solicitor managing a large practice, medium-sized practice, small practice, legal aid practice, probate ...
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Legal brands ‘missing out’ on social media
Top legal brands are missing out on ‘vital’ customer interaction by failing to set up social networking sites, according to research seen exclusively by the Gazette. A report on the legal sector by internet consultants Greenlight said that many of the most visible legal websites do ...
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European Commission seeks to increase client account protection
The European Commission has scuppered plans by the Financial Services Authority to vastly improve protection for client money held in solicitors’ bank accounts. The commission has announced that it wants to increase to €100,000 (£83,200) the maximum level of compensation available for deposits that are lost ...
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DLA profits hit by Middle East losses
National firm DLA Piper today reported partner profits down 18%, and blamed the fall on losses incurred by its hard-hit Middle East practice. For the year ending 31 December 2009, revenues at the firm fell to £581m from £585m in 2008, while average profits per equity ...
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MoJ axes training grants for legal aid
The Ministry of Justice has axed a grant scheme that helped fund the training of the next generation of legal aid solicitors because there are ‘too many lawyers’ conducting legal aid work. Legal aid minister Jonathan Djanogly said the government would save £2.6m a year by ...
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Circuit judge resigns over male prostitute allegations
A circuit judge has resigned after losing an appeal against a decision to remove him from office following allegations over his private life. Gerald Price QC, a judge on the Wales circuit, was the subject of media reports that he had had a relationship with a ...
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Barristers seek partnership with solicitors
Some 43% of barristers would like to go into business with solicitors, research commissioned by bar regulator the Bar Standards Board has shown today. A YouGov survey of nearly 2,000 barristers and 141 clerks and practice managers revealed that 43% said they would be interested in ...
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Scrapping HIPs has little impact on property market
The scrapping of home information packs (HIPs) has had only a ‘marginal’ impact on the beleaguered property market, solicitors said this week, as they predicted that the market will remain slow for the rest of the year. Communities secretary Eric Pickles, who axed the controversial sellers’ ...
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MoJ to publish draft Defamation Bill
The Ministry of Justice has announced it will publish a draft Defamation Bill for consultation in the new year, with a view to introducing a bill in the next parliamentary session. Justice minister Lord McNally outlined the government’s plans to review the law on defamation to ...
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Annual immigration cap could harm legal sector
Government plans to impose a permanent annual cap on non-EU nationals entering the UK labour market could have a ‘significant detrimental impact’ on the legal sector, the Law Society has warned. Home secretary Theresa May has announced a consultation process ahead of a permanent annual cap ...
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A place for sharia
I work in an area where there is a large Muslim population. I think that sharia law may, in some circumstances, have a role to play, providing: all the parties agree; there is no attempt to replace English law with sharia law; and representatives are given a seat at the ...
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Truth about CFAs
I was interested to see from your piece last week, ‘Urgent action’ demanded on CFA ‘scandal’ (see news), that Steven Heffer had written to the justice secretary Kenneth Clarke QC on behalf of Lawyers for Media Standards to voice its concerns about the proposal to reduce the maximum success fee ...
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Too old for the legal profession?
After selling my practice a few years ago I elected to work nine months a year on locum assignments and consultancy work for solicitors buying, selling or merging their firms. All went brilliantly for two years. Then the recession came and work dried up. Two years ...
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Matters of fact about recent mental health tender
Recent negative comments in the Gazette about the results of the Legal Services Commission’s mental health tender ignore a number of key points. The tender process itself was a success. The LSC actually allocated 1,500 more new matter starts than in 2009/10, and the allocations we ...
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'Typical' PC fee set to fall
Practising fees will fall by more than a quarter in 2010/11 for the ‘typical’ fee-payer, if proposals submitted to the Law Society Council are approved next week. October will see the introduction of the so-called ‘fairer fees’ regime, under which 40% of the cost of ...
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Call for 'international convention’ on parent relocation
A senior Court of Appeal judge has called for an international convention to establish a common approach in contested cases on the relocation of children, where one parent wishes to move abroad. Head of international family justice Lord Justice Thorpe said that English caselaw had consistently ...