Barristers would be “well advised” to make proper provision for tax liabilities given the “episodic” nature of their income, a tribunal has cautioned after upholding a fine against a QC hit by legal aid cuts.
Litigation is not a “blank cheque” and divorcing people cannot behave on the basis that they are bound to be reimbursed for their costs, a leading family law judge has warned.
The High Court has ruled that a partner in a law firm who paid himself £16,500 after he had left the firm and was “effectively competing with it” breached his director’s duties.
A “disastrous IT failure” suffered by a law firm’s biggest client tipped it over the edge into administration and a pre-pack sale to fast-growing national firm Taylor Rose TTKW.
A former partner of a London firm that went into liquidation has lost his bid to strike out Barclays Bank’s claim to enforce a guarantee he provided to cover a loan and overdraft.
Knights Group – the Staffordshire-based law firm that listed in June – has secured bank funding to support its strategy to complete at least three acquisitions by April 2020.
A client who received a mistaken payment of £177,000 from a law firm and only paid back £144,000 has failed to overturn a judgment in default.
A personal injury law firm has lost its appeal against a High Court ruling that dismissed its £4.5m claim over referrals from an insurer that did not materialise.
A QC fined more than £1m for the late payment of both income and inheritance tax over several years has had the sanction reduced by 80%.
Insolvencies in the legal sector are set to double this year if trends seen in the first quarter of 2018 continue, indicating a possible downturn in the fortunes of law firms, it has been claimed. The figures also indicate that law firms may be waiting too long before seeking help.