Market monitor
Small firms “hit hardest” by lockdown
Small law firms have been hit hardest by the lockdown, a survey of the impact of Covid-19 on the profession has found but overall firms have “largely seen only a minor impact on business levels”.
Advocacy services firm becomes ABS
An advocacy services firm which attended over 6,000 hearings last year has become an alternative business structure so it can add qualified advocates to its team of solicitors’ agents.
New instructions “returning to pre-lockdown levels”
New instructions have been running at about 70% of the pre-lockdown level over the past two and a half months, but there are definite signs of a revival, with conveyancing roaring back, data shows.
New contracts firm puts paralegals in pole position
Two young paralegals have launched an unregulated legal contracts business which provides fixed-price services for mainly online businesses in the UK, the USA and Europe.
Black lawyers launch initiative to fight racial injustice
A group of lawyers has begun crowdfunding to support a new initiative aiming to combat racial injustice by facilitating access to justice, funding and legal representation.
Covid-19 impact: Firms “desperately need” new instructions
Some law firms suffered “serious falls” in revenue during May and, without a pick-up in new instructions in June and July, “the pain may become unbearable”, new research has warned.
Revealed: Taylor Rose to pay £1.4m for McMillan Williams
Taylor Rose TTKW is set to pay £1.4m to buy McMillan Williams, which was sunk by slowdowns in both the property market and personal injury settlements, and its high level of gearing, it has emerged.
New justice fund issues £600,000 in grants
The new Community Justice Fund has already awarded over £600,000 in grants to the legal advice sector to help it cope with the Covid-19 pandemic.
Asons liquidators settle action against successor firm
The liquidators of Asons have settled their claim against its successor practice, after alleging that the controversial personal injury law firm was sold at an undervalue.
Solicitor and wife witness client’s will via WhatsApp video
A solicitor and his wife have used WhatsApp video to witness a will made by a man who was very ill with Covid-19, it has emerged.
Blog
The importance of benchmarking reports – and lessons on profitability
Regional firms reported the largest revenue growth this year (12%), outpacing their City counterparts. Yet many are not converting that growth into profitability.
Fixed recoverable costs: Sacrificing justice for predictability?
The extended fixed recoverable costs regime is failing to achieve its stated objectives. Instead of promoting fairness and efficiency, the rules are creating anomalies that undermine justice.
Expectations keep rising, so prioritise client experience
Law firms are facing growing pressure to place greater focus on client experience or risk falling behind in an increasingly competitive legal market.
