Latest news
Listed Australian law firm considering UK opportunities
The first corporate law firm in the world to go public is eyeing up opportunities in the UK, Legal Futures understands. Integrated Legal Holdings has until now been an aggregator of boutique corporate, tax and private client firms across Australia.
Industrial disease specialists eye ABS to aid extraordinary growth spurt
A specialist industrial disease law firm in the north-west is looking to convert to an alternative business structure to take advantage of a period of extraordinary growth. Fee income doubled to £7m and staff numbers quadrupled to 170 over the last year.
Solicitor found in contempt following Legal Ombudsman enforcement action
A Birmingham solicitor has become only the fourth lawyer to be found in contempt of court as a result of legal action taken by the Legal Ombudsman. He was also hit with a fine of £5,000 plus costs, after holding on to important files and failing to update his clients.
AccessSolicitor to mine public data in latest ‘find a lawyer’ venture
An online legal directory aiming to aggregate the publicly available data about lawyers – including complaints information from the Legal Ombudsman – has launched with the outline details of nearly 13,000 lawyers.
Partners “in the dark” over their firm’s financial performance and risk of failure
Too many partners are unaware of their firm’s financial situation and the personal implications of the business going under, it has been claimed. Firms are in serious danger of going out of business because they do not have sufficient cash to meet their running costs.
Stuttering growth “pushing firms towards mergers”
A lack of growth is one of the factors behind the increasing trend towards mergers and acquisitions amongst small and medium-sized law firms, new research has suggested. Firms are also continuing to ignore the importance of lock-up to their cash flow, it said.
Law Society lays into government’s partnership tax reforms
The government’s proposed tax reforms for limited liability partnerships (LLPs) are “haphazard”, “incoherent”, backward looking, and would introduce a “bizarre distinction” between business entities, according to the Law Society.
From ‘America’s most familiar law firm brand’ to the UK’s? Jacoby & Meyers unveils ABS plan
Jacoby & Meyers – which claims to be the largest full-service consumer law firm in America – is to create a joint venture alternative business structure as a vehicle to acquire UK law firms and become a “significant” player over here.
High Court asks SRA to consider firm’s fitness to practise after contempt ruling
The incoming Lord Chief Justice has asked the Solicitors Regulation Authority to consider a law firm’s continuing fitness to practise having found its senior partner in contempt of court.
Conveyancers face new referral fee disclosure rules but no ban
The Legal Services Board has backed improvements to the transparency of referral fees paid by licensed conveyancers following a review that found absolutely no justification for a ban.
Blog
Divorce escrow: asset sales before final settlement
When significant matrimonial assets are sold before a final financial order is agreed, holding the proceeds safely and neutrally can present real practical challenges.
AML lacks clarity – and standards are suffering
If firms are buckling under the pressure of AML regulations, subject to ever-increasing fines, then something is clearly not working as it should be.
The power of participation for trainees and apprentices
It’s important as a trainee or an apprentice to get involved in the life of your firm – even under the pressure of discovering how to navigate professional life and now the demands of the SQE.
