Latest news

The failure of HM Courts and Tribunals Service to carry the support of lawyers for its ambitious modernisation plans has contributed to failing to meet its timetable, according to Parliament’s spending watchdog. The National Audit Office warned that the service was “behind where it expected to be at this stage” of the £1bn reforms

The government yesterday defeated a Labour attempt to annul the legislation changing the scheme through which criminal defence advocates are paid for carrying out publicly funded work in the Crown Court, which has led to over 100 chambers declining instructions. However, there was also recognition that the criminal Bar needed greater support.

A former senior servant with substantial experience of competition law has been named the new chair of the Legal Services Consumer Panel. Sarah Chambers replaces Dr Jane Martin, who resigned after just a year in post to become a member of the Office for Legal Complaints, the body that oversees the Legal Ombudsman.

City law firm Rosenblatt today became the fourth law firm to be admitted to AIM. The share placement, which was significantly oversubscribed, raised approximately £43m and gave the 19-partner firm, which is best known for its litigation work, a market capitalisation of £76m.

Lawyers will adapt to serve injured clients affected by its whiplash reforms, with “unbundled” advice one option, the government has predicted as it made the first concession on the Civil Liability Bill by removing non-motor vehicle users from its scope.

Profit per equity partner is down by 10%, although other performance indicators are up, according to an influential benchmarking report of SME law firms, published today. However, although PEP was down – from £120,000 last year to £108,000 – median fees per equity partner were up by an inflation-busting 5.4% to £539,000 last year.

The government has rolled out its online divorce service after a successful pilot. More than 1,000 petitions were issued through the new system during the testing phase – with 91% of people saying they were satisfied with it and barely any forms returned because of mistakes.

Leading HR company Croner has become the first unregulated business allowed to employ practising solicitors who can advise its clients. The move, facilitated by a waiver issued by the Solicitors Regulation Authority as part of its innovation ‘safe space’, will also allow Croner to offer training contracts.

Next week’s float of Rosenblatt will see the largest raise yet by a law firm after it revealed that it should raise £43m through the admission. The issue price will be 95p – coincidentally the same price on admission as the first listed firm, Gateley – and with 80m shares giving a market capitalisation of around £76m.

A partner has been fined £10,000 plus £28,000 costs for being “sloppy, lazy and careless” for acting in conveyances on the instructions of a third party without confirming them with the clients or conducting due diligence on the clients or transaction funds.