Latest news – Page 858
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Banking investments, loans and corporate takeovers
Energy boost: City firm Norton Rose advised the Jordanian Atomic Energy Commission on signing a uranium exploration agreement with French nuclear power company Areva, and is advising on negotiations over a mining agreement. Magic circle firm Linklaters advised Areva, while Jordan firm Aljazy ...
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Welcome in the valleys
Firms will profit form the emergence of Wales as a distinct legal jurisdiction.
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Discharge call
I am writing with regard to the article ‘Conveyancing warning’ (see [2008] Gazette, 16 October, 2). Perhaps the Law Society, particularly in view of the current financial climate, should consider approaching the main financial institutions to change what has become common conveyancing practice for undertakings.
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Arresting issue
I was interested to read the letter you received from District Judge Peter Glover concerning the abolition of powers of arrest in relation to non-molestation orders (see [2008] Gazette, 25 September, 7). I fully agree with the observations made by him that an issue of ...
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Exhibiting unease
The Legal Services Commission (LSC) Crown Court litigator fee scheme was introduced to cut costs by 10% and simplify the billing process. At training sessions, LSC staff were confident there would be few disputes and described the appeal procedure as unlikely to be used.
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Law Society's excellence awards
Saimo Chahal, head of the civil liberties and social welfare team at London firm Bindmans, was last week named solicitor of the year at the Law Society’s second annual Excellence Awards. Chahal (pictured) was cited for her work on behalf of vulnerable and disadvantaged clients in ...
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Contingency fees 'can work but risk justice'
Contingency fees could operate effectively in England and Wales with or without cost shifting, a major report is expected to say this week. However, the Gazette understands that the report, commissioned by the Civil Justice Council, warns of the risk that contingency fees may narrow access ...
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Sharp rise in stressed lawyers
Stressed solicitors have been phoning support groups in record numbers following the worst weeks of the financial crisis, the Gazette has learned. The three biggest groups – LawCare, the Solicitors Assistance Scheme (SAS) and Solicitors Benevolent Association (SBA) – all reported a huge spike in calls ...
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Whitehall retreat as VHCC fees up by 5%
The government has capitulated to fierce lobbying and increased fees in very high-cost criminal cases (VHCC) by 5% as an interim measure to avoid a potential crisis in the Crown Courts. Solicitors and barristers will see the same percentage increase, with a senior solicitor or QC ...
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CMC plans regulation for mediation providers
The Civil Mediation Council (CMC) is developing a voluntary registration and regulation scheme for mediators and provider organisations, it has emerged. The CMC aims to draft two registration schemes to replace the pilot accreditation scheme it has been running for the last three years. ...
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Sir Rupert to review costs
Sir Rupert Jackson, who was promoted this month to the Court of Appeal, is to head the Master of the Rolls’ fundamental review of the costs system, it will be announced this week. The review, which was first revealed in the Gazette in June, will begin ...
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Members reject Law Society affiliate plan
Members have rejected changes to the Law Society model that included creating an affiliate category for non-solicitors. In all, 17,568 eligible votes were cast, 12.7% of the voting papers sent out. Some 59.5% of solicitors voted against the plans, with 40.5% in favour. ...
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Consultancy targets law firm acquisitions
A consultancy with an initial mandate to acquire 25 law firms on behalf of larger practices was formally launched this week. The new business is also offering other services to support smaller firms – including putting them together to bid for large work contracts. The ...
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QC: judiciary 'scandal'
Leading discrimination and equality QC Karon Monaghan has labelled the make-up of the judiciary a ‘national scandal’. Speaking at the Royal Courts of Justice during the annual Inside Justice Week, Monaghan spoke of advances and improvements made in equality thanks to the Human Rights Act and wider legislation. But she ...
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Tories probe client rules
The government will be put under political pressure to clarify what would happen if a bank’s collapse wiped out client money held in law firms’ accounts, the Gazette has learned. Jonathan Djanogly, the Conservative shadow Solicitor General, told the Gazette he would press the Treasury for ...
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Cash hitch for KBF suitors
The search by Key Business Finance (KBF) for a new backer could be hampered because potential buyers will struggle to find cash in the current climate, accountants have warned. However, solicitors who have taken out KBF loans are unlikely to be forced to repay them if ...
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Market regulation overhaul call
Stricter regulation, broader regulatory powers and effective global cooperation are needed to ensure financial regulators can manage markets better in the future, markets watchdog the US Securities and Exchange Commission (SEC) warned lawyers in London last week. Companies and individuals responsible for the recent fall-out should ...
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Lawyer guidance on money laundering
Special guidance to help lawyers avoid money launderers was agreed by international organisations last week. The Financial Action Task Force (FATF), the inter-governmental body charged with combating money laundering and terrorist financing, agreed to publish new guidance in conjunction with the International Bar Association (IBA), American ...
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Purchases, developments and leasing
Energy boost: City firm Norton Rose acted for Vattenfall, the Swedish energy company, on its £52m purchase of Eclipse Energy UK, which was advised by City firm Watson Farley & Williams. West ...
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The bigger they are - the harder they fall?
A Law Society review of solicitor regulation is both timely and welcome.