Latest news
Banks agree £60m funding facility to fuel “substantial” growth at Irwin Mitchell
Irwin Mitchell has signalled its intention to grow “substantially” in the coming years after securing a £60m four-year finance package with three major UK banks. The deal also includes a £30m ‘accordion’ facility for further finance if required for a big transaction.
Natwest survey: confidence and profits rise but firms must "spend more to make more"
Profits were up last year and confidence is buoyant for the coming year among small and medium-sized law firms, according to a major benchmarking survey. Nine out of 10 firms surveyed thought profits would increase during 2014.
Linder Myers refinancing avoids administration
Manchester firm Linder Myers has avoided administration by completing a deal which will see the firm refinance its debts and appoint a chief executive to lead the practice.
QASA's future on knife edge as advocates' boycott holds
A tiny number of criminal advocates has so far signed up to the Quality Assurance Scheme for Advocates (QASA), suggesting a profession-wide boycott of the scheme is holding.
LexisNexis awarded ABS licence to launch compliance service
LexisNexis UK has been licensed by the Solicitors Regulation Authority as an alternative business structure (ABS) to launch a compliance business combining content, technology and advisory services.
BT legal chief warns firms of new entrant threat as its ABS eyes expansion
There is no reason why you need a law firm to carry out many of the tasks that traditional firms have previously handled, the group general counsel of BT has warned. Dan Fitz also revealed that it was looking to expand the work handled by BT Law, the company’s ABS.
Judge cites Karl Marx in rejecting law firm’s bid to exit professional indemnity scheme
A global law firm has been knocked back by a judge quoting Karl Marx, after seeking a waiver from the Isle of Man Law Society’s indemnity insurance requirements.
Online barrister service seeks crowdfunding to back major expansion plans
A website that connects the public directly with barristers is the latest legal business to seek crowdfunding after it launched a bid to raise £150,000 in expansion capital. The site, myBarrister, wants to sign up 1,000 barristers by the end of the year.
Judge rejects solicitor’s anonymity bid to hide tax penalty from SRA
A solicitor has lost an appeal against an HMRC refusal to anonymise its decision, so as to prevent the Solicitors Regulation Authority from discovering that a penalty had been imposed on him for ‘deliberate inaccuracy’.
Sir Michael Pitt to be new LSB chairman
Senior civil servant Sir Michael Pitt will take over from David Edmonds as chairman of the Legal Services Board (LSB), it has been announced. Mr Pitt has no legal background and was chief executive of the Planning Inspectorate for three years from March 2011.
Blog
Small steps, big impact: how SME law firms are making legal tech work
For SME law firms, the priority is turning the potential of tech into measurable impact: success is driven not just by the technology, but by how firms approach planning and implementation.
Why housing disrepair claims against councils have leapt by nearly 400%
Housing disrepair claims against councils have surged dramatically in recent years, with some areas reporting increases approaching a staggering 400%.
Client accounts: Opportunity, obligation and the risks in between
The profitability gap between well-run firms and the rest is not primarily a function of size, location or practice area – it is a function of financial management.
