Finance


Tribunal issues tax warning after senior barrister’s late payment

21 December 2018

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.


Divorce is not a “blank cheque” for litigation, judge warns

27 November 2018

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.


High Court orders partner to sell his share of law firm

8 November 2018

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.


Biggest client’s “IT disaster” tipped firm into administration

29 October 2018

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.


Partner fails to strike out bank’s claim under guarantee

29 October 2018

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.


Bank backing for listed firm’s acquisition ambitions

16 August 2018

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.


Client bid to stop £33,000 repayment to law firm fails

31 July 2018

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.


Appeal court rejects firm’s £4.5m claim over “missing referrals”

27 July 2018

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.


Court of Appeal cuts QC’s £1m penalty for tax late payment

23 July 2018

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%.


Law firm insolvencies rising sharply, research finds

13 June 2018

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.

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Blog


BSB entities offer positive future for the Bar
3 August 2020

The chambers of the 17,000 or so practising barristers in England and Wales face, arguably, their greatest time of challenge and controversy since advocates first took up arms in the early 13th century.


My lockdown legacy – what will yours be?
30 July 2020

As we go back to work, we will not – and should not – forget the lessons we learnt during lockdown. I really hope that we drive change as a result and create a positive legacy for our industry.


Reports


Report Cover
Our latest special report, produced in association with Temple Legal Protection, looks at the role of after-the-event (ATE) insurance in commercial litigation post-LASPO. We are at a time when insurers, solicitors, clients and litigation funders work ever more closely to create funding packages that work for all of them, with conditional fee and even damages-based agreements now part of many law firms’ armoury.

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