Outgoing law firm principal failed to do due diligence on buyers.
Survey suggests a quarter of barristers face up to a year-long wait to be paid.
Government amendments to rules against 'prohibitively expensive' proceedings need further clarification.
Costs experts believe implementation of Lord Justice Jackson’s proposals could be set back by up to a year.
Litigants told they can expect cost penalties if lengthy bundles hold up the justice process.
As portfolio deals become more popular, law firms backed by third-party funders will gain an edge over rivals.