Latest news – Page 746
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News
‘City firms don’t need capital’ - CLLS chair
The new chair of the City of London Law Society wants to see more lawyers in positions of power and influence, he said this week. Alasdair Douglas, speaking in his first major interview since taking over the role last month, told the Gazette he is determined ...
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Magic circle firms post solid results
Three magic circle firms have posted steady but unremarkable financial results as testing market conditions continue to prevail. Freshfields Bruckhaus Deringer, Linklaters and Allen & Overy all released figures for the 2010/11 financial year. At Freshfields, revenue fell marginally on the previous year, with profits per equity partner down by ...
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Clean bill of health
It seems to me that the judgment in Key v Key [2010] EWHC 408 Ch is open to criticism, because the judge did not apparently consider it in any way significant, or even relevant, that the testator’s experienced solicitor (whatever else his shortcomings) believed that the testator had capacity. ...
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Question of truth
I have not read the full survey by the Legal Services Consumer Panel (see [2011] Gazette, 23 June, 3), nor do I know what the actual question was. We do know the answer – the public believe that only 47% of lawyers are trusted to ...
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Paying the penalty
I read the article ‘Lenders vet solicitors on Google and note that lenders are monitoring the time solicitors take to register charges. The delaying factor in almost all cases is the time lenders take to discharge existing charges after receipt of funds from the seller’s ...
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Libraries matter
Martin Barber-Redmore makes some valid points about the possibilities of outsourcing and electronic resources, but misses some fundamental points in his paragraph on traditional legal libraries. Libraries still have a role within law firms, regardless of where they locate themselves or how the office is arranged. ...
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Cold calling
Over recent months, we have received information from clients that they have been contacted by companies via their mobile phone, indicating that they are currently pursuing a claim. The company is offering to settle their claim, typically for £3,750. These existing ...
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Security concerns
I have been appearing in our local magistrates’ court for over 32 years. I have recently had problems with a rather officious security officer. The other day I went to speak to the prosecutor in the Crown Prosecution room. ...
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Act on referral fees
In recent times three core institutions of society have been rocked by crises. In 2007, the banking system came to the brink of collapse. In 2009, parliament was shaken to its foundations when countless members were shown to have falsified expenses. ...
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Practising fee to fall 23%
The Law Society Council today approved a reduction in the individual practising certificate fee for next year of 23%, reflecting the ‘reduced funding requirement’ of the Law Society Group. The individual PC fee will drop from £428 to £328 to reflect the £94.8m net funding ...
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Mid-market firms review strategy ahead of alternative business structures
More than a third of mid-market law firms have changed their business strategies in the last year in response to the Legal Services Act. A survey of 101 firms, commissioned by legal information provider Lexis Nexis, also found that a further quarter will alter their structure ...
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ABS timetable in danger of slipping
The Solicitors Regulation Authority may not be ready to license alternative business structures from the target date of 6 October. SRA chairman Charles Plant told the regulator’s monthly board meeting today that the authority’s preparations for the change remain on schedule. ...
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Allen & Overy investigates allegations that it was tricked
Magic circle firm Allen & Overy has said it is ‘looking into’ the allegation made yesterday that it was tricked into handing over details relating to former prime minister Gordon Brown to a conman. An article in today’s Guardian newspaper claims that that lawyers at Allen ...
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IAS blames legal aid cuts for its collapse
The Immigration Advisory Service (IAS) has asked clients not to attempt to visit its offices and has blamed government legal aid cuts for going into administration. IAS, the UK’s largest provider of publicly funded immigration and asylum legal advice, went into administration over the weekend. ...
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NHS lawyers warned government that reforms would escalate its costs
NHS lawyers warned the government before it published its bill on legal aid reform that scrapping legal aid for clinical negligence claims would ‘massively’ escalate NHS legal costs, and leave some seriously injured people unable to bring cases. In its response to the government’s cost-cutting consultation ...
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ARP firms still owe £8.46m
Law firms in the Assigned Risks Pool still owe £8.46 million in premiums, despite debts falling during 2011. Outstanding premiums have come down from £9.3 million at the end of March this year as regulators clamp down on non-paying firms. The Solicitors ...
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Immigration Advisory Service in administration
The Immigration Advisory Service, a charity that gives telephone advice to 36,000 clients and opens 7,000 appeal files every year, went into administration over the weekend. Cuts to legal aid are thought to be one reason for the charity’s financial problems. According ...
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Thousands of clients ‘stranded’ following IAS collapse
The collapse of not-for-profit immigration advice provider the Immigration Advisory Service (IAS) will leave thousands of clients without representation, the Law Society warned today. IAS’s legal aid contract allowed it to take on 26,700 new cases a year. It is not ...
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‘No political will’ to reform marriage laws
There is ‘no political will’ to address the record levels of family breakdown that currently cost the country an estimated £40-100bn a year, a leading family lawyer claimed during a Law Society public debate yesterday. Ayesha Vardag, principal of London firm Vardags, one of a panel ...
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Government ‘sympathetic’ to introducing referral fee ban
The government is ‘sympathetic’ to the idea of banning referral fees, Ministry of Justice minister Lord McNally told the House of Lords yesterday. McNally said that if public opinion demands a ban, the government will respond to that demand. In ...