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A High Court has referred back to the Solicitors Disciplinary Tribunal the case of two partners he found to have displayed “manifest incompetence” in accepting £573,000 lent to their law firm by the controversial Axiom Legal Financing Fund.

Peers have expressed concern about the impact that Brexit is already having on the UK’s legal services market and urged the government to take action. It came in a report that warned that alternatives to the existing framework of civil justice cooperation “must be in place before the UK’s withdrawal is completed”.

MPs on the justice select committee have launched a “short” inquiry into the personal injury reforms contained in the Prisons and Courts Bill. The announcement comes ahead of the bill’s second reading – during which the principles behind it will be debated – on Monday.

Wanda Goldwag – a marketing specialist turned regulator with a connection to two high-profile alternative business structures – has been named as the Legal Services Board’s preferred candidate to chair the Office for Legal Complaints, the body that oversees the Legal Ombudsman.

Shares in Slater & Gordon (S&G) soared overnight – albeit from an historically low base – after it told investors that its new lenders “fully intend to implement a solvent restructure of the company”. Its share price rose 46% to 13c, having dipped to an all-time low of 7c a fortnight ago.

The Solicitors Disciplinary Tribunal has struck off a solicitor who was convicted for conspiring to supply cocaine and sentenced to three years in prison, despite his plea for a second chance. He was himself an addict and claimed he was trying to rid himself of the drug when he supplied one gram to an undercover police officer.

The expansion of consolidator Metamorph Law has continued after it took on the private client practice of a firm in Hampshire, its first venture in the south of England. Some 17 fee-earners and six support staff have set up new offices in Southampton, Lymington and Basingstoke.

A solicitor convicted of stalking her husband’s former lover has been fined £1,000 by the Solicitors Disciplinary Tribunal. In what it described as “wholly exceptional circumstances”, the tribunal said that “the reputation of the profession is enhanced by some consideration of humanity”.

A criminal law barrister whose case papers were found in bin bags has been fined by a Bar disciplinary tribunal, while the Information Commissioner’s Office has fined another barrister after a software update on her home computer placed hundreds of unencrypted client documents online.

A law firm which was duped into paying away the £333,532 proceeds of a property sale after failing to confirm a client’s email changing their bank details – which turned out to be faked – has been rebuked by the Solicitors Regulation Authority.